am I asking a fair price

[BDT/NWMN]

two motor rebuilds.... pay him for one,, and load it up...,,... He got the use of your equipment and compressor;; you got the use of his building... It was a business agreement,,,,,that for you and your friend,,,,, has come to a close.... Life has changed for both of you.... The joint venture is no longer feasible, so the two of you are bringing it to a close........ This is the termination of a business arrangement,,,,,,,,,,,,,,,,,,,,,, NOT a friendship... If all is square, and you pitched in with heating and electrical expenses that covered your fair share of shop usage;;; this would put you guys pretty much square.. property taxes, building repairs??

 

[Brad54]

$1700 10 years ago isn't chump change. I wouldn't just walk away from it.
The fact that he repaired it without asking for money means he knows he did the lion's share of the work with it--he knows he wore out YOUR air compressor doing HIS business work.

A $1700 10 year old compressor with rebuilt components is still going to be worth $500-$800 (depending on factors I'm sure I'm not taking into account).

I'd ask him what half of the repair bills were and pay him that, then take the compressor to your shop and either use it or sell it.
OR, ask him what he'd like to do about the compressor... he'll probably say "How much do you want for it?" At which point YOU said about half what a new replacement is going to cost you... that way he gets a compressor for half-price, and you get half the money for your replacement.

One other question: who paid the electric bill when you guys were working out of the shop together?

-Brad

 

[T45]

$1700 is like a used car or something similar. Its a non-trivial amount of money, but on the other hand its $170/per hear for 10 years. IF you depreciate it a bit, its like maybe $800 dollars or $80 bucks a year. So, for at least that much I would consider things a wash. You didn't have to pay storage and got to use his space as needed, that seems like its worth $40 buck a year for each half (40+40=80) so you came out ok. The other amount is the value just lost to being seconhand, even if it was in mint condition. So that might be 20-25% discount right there as well. So, add all that up and I would say the most value still left to be talking about is somehting like $400 bucks. In otherwords, if he paid you $400 neither of you guys should feel completely ripped off here or slighted to such a degree to harm an otherwise decent friendship.

Add to that whatever else might be involved. If there was a huge amount of other tools...that would be something more you contributed. If he invested several hundered in parts and labour to keep this running for you, thats something also he contributed. So that is sort of a fair and objective way to look at this whole situation, IMHO.

Now, lastly is another issue that might be weighing in here even if unsaid: If one of you guys really needs the $$money for something. Like, if you need some money for something else and this whole compressor issue is something you always planned on liquidating to raise some cash to pay bills? Well, in that case I would also consider this in how you approach the situation. In that case, its more of a favour if he buys it from you so you don't have to put it up on CL and deal with the hassle. So, maybe he's willing to help you out as a friend and just throw you a couple hundred for it? That would be good perhaps. Likewise, if he doesn't have the cash to buy it anyays, you should be prepared to give hime some courtesy in case he is expecting it to be there for some project work or whatever. SO you really would want to raise the issue out of courtesy and give hime some time to finish up ore reschedule his works. Also, you should be respectiful of the idea that he might not think its worth the $$$ to buy a 10 year compressor from you anyways. He did not take on an obligation to buy your depreciated asset at market value once you decideted it was time to monetize your asset !! He may now think its better use of his money to invest in a downpayent or whaever on a NEW working piece of gear. You should also respect this, and thus be prepared to take you gear home/sell it on your own with no hard feelings.

In other words, this is a lot like you had an old used car. It was sitting in hs garage and he could use it. He mainteined and kept an eye on it ifor you. Is it his for free? probably not. Is it your right to charge him a new car price? LOL hell no either. You would have had to pay good money to store and fix the car on your own. So the truth probably lies somewhere in the middle that if he wants it, you should strike a deal for the value of the car that is left, one below market value for sure because (a) he's your friend; and (b) you don't have to take it to market which is a service he is providing you, too.

Anyways hope this helps to see it from another Point of view.

 

[Smokenarrow]

If he has maintained it for ten years and you're friends and he was man enough to never ask you to pitch in for repairs :

Shake his hand, it's his.

You wanting any amount for a ten year old compressor is not something I would do.
You wanting full price is a bit odd.

This.

 

[wild cowboy]

if you didn't pay for the multiple repairs to this pile of junk, not sure how you could claim it as all yours now - frankly, I wouldn't want it, the motor, at a minimum, is a lemon - besides, older compressors are not worth a high percentage of new value anyway, you are worrying over a $250 compressor, tops.

 

[oldldh]

It's his...

 

[BDT/NWMN]

This is why I caution people from buying any IR compressor that is less than $5K, they are ****! - believe me, you are not giving him anything to speak of, if you let him keep it for free!

and FYI, the unheated part of the garage is just fine for any well built compressor, I have owned compressors that have run with nothing but oil changes and normal belt replacement for 30+ years and living outside (under an awning blocking direct sun or rain/snow) the entire time.

a 10 year old compressor having had the motor or the pump rebuilt even once is just ridiculous!

It gets way colder up here.. -30 is hard on man and machine... NO WAY would MY large compressor be operated in an unheated room.. I wonder if the motor failures were due to inadequate wiring or overload due to the cold..??????????.. Is the compressor worth $1700 after a ten year life of being murdered, rebuilt and remurdered again??? Not in my thoughts... In the eyes of the owner; it is still a $1700 compressor.. He may as well load it up.... Nobody in their right mind would pay that...

 

[Cypherian]

Quick background. About 10 years ago my buddy and I built a shop together. The building is his with most of the stuff inside mine. We did a lot of side work together plus working on our own junk. Last few years I have done less and less there. He has pursed side work to the point he LLC the shop and has a small business fixing cars beside his day job. I just bought a new house that has a second garage that is pretty much a turnkey shop for myself. Ownership of idems in the shop are clearcut so removing my tools and equipment is not a problem. Where my question lies is with my air compressor. I have a 7.5 HP 80 gallon IR I bought brand new for $1700 and it has been in that shop since day one. I feel life is easier for him to buy it from me instead of me moving it. I will be buy a new Quincy or Saylor Beal in a year or so. We have briefly discussed this in the past. In the 10 years I have had it, he has taken care of the issues with it. Sitting in the unheated part of the shop, it had eaten a couple of belts. Also the motor has been rebuilt twice. All times, he has gotten it fixed by himself and told me about it later. Never asked to settle up. So what do I ask for price? My feelings is since he had had use of it since brand new, I'd like what I paid for it. Do I have my share of use, yes, but he is the one racking the real hours on if. Am I asking for a fair price, if not what is. I what a sound train of thought on this.

I would say it is his with the motor rebuilds which can't be cheap , belts and basic up keep besides it's age. I would not even mention it just get all your other stuff and if he asks just shake his hand and tell him no worries it is yours.

Cypher

 

[twertsy]

Either take it or give it. I personally would be offended if it were my shop and you asked me for money for a piece of cheap equipment I maintained for 10 years, particularly if we were "friends," which I'm seriously doubting based on your position on this issue.

 

[kf4zht]

I almost left my compressor with my buddy when I moved out. It was only a $600 unit, but about 3 years old so the cost per year matches. I only took it with me when he decided to move in with his fiancee and rent that house.

I would say Merry Christmas or at least give him one heck of a deal on it ($100 and beer).

 

[Shoester]

I imagined myself in your shoes, and I couldn't stand the thought of actually charging my friend for it!

 

[robertwhite]

Who built and paid for the shop that YOU used?

As others have said, it's a **** move to ask for anything. Dude has repaired it twice at his expense, but you used his shop. Take whatever he offeres and be happy.

Oh, and I have a 25yr old 5hp/60gal POS Craftsman that has sat inside, but unheated for the entire time and never needed a single thing. Choose wiser next time.

Just the fact you think it is worth full retail after all this time and money tells us a whole lot about you.

 

[abk241]

Hold the train a minute. After all that your seriously want money from this guy? I thought you said you were friends?

Agreed....and why would you expect anyone (friend or not) to pay what you paid 10 years ago?

To answer your question IMHO...NO, you are not asking a fair price.

 

[Parrothead]

I will go against the grain (or just be honest) and say that I probably wouldnt give it away. I dont think that most of you would give away something you paid $1700 for.

I think you're wrong, as it's happened both ways. In both circumstances I think either party (friend or me) could have used the money. We looked at it as a pay it forward situation.

 

[Parrothead]

See this where I wanted to test my train of thought. The repairs he had made is really what muddies the water in this decision. He has been given the use of the compressor, but I'm not giving it to him. I will even up on repairs and pull it out before giving it away. I already have plans to leave him a number of things that do not fit my need. He is making out very well on other stuff.

If I were the shop owner (former friend), I would happily remove and deliver the compressor to your residence, and oh yea...the locks are changed.

 

[veks]

If I were him I would have a brand new one installed and yours out in the driveway waiting for you when you got there

This along with anything else that is also yours. Oh yeah that friendship you can... for asking retail.

I would ask for dinner and unlimited free use of the shop when permitted. Matter of fact i wouldn't even say anything. What's the friendship worth to you?

 

[-Brent-]

To add to the OP's line of thinking, perhaps your "buddy" can take his repairs back, too?

Then you've got something worth it's weight in scrap and you don't "owe" him anything.

Seriously, Bobcat, read what you're writing... like out loud.

 

[Hpozzuoli]

Like the others have said...Shake hands and give him the compressor. He has maintained it for you all these years. It's 10yrs old now and probably seen its share of hours. It's his now.

 

[PugetDude]

Apparently you value a ten year-old high-maintenance compressor more than a 10+ year friendship?

Personally, I'd leave the compressor as a thank-you for letting you use his building for the last few years until you got your own place.

No one likes a cheap ******* who has to wring every last cent (and all of the fun) out of every transaction. Try life on the other side for a change; you'll find it refreshing.

 

[JohnX14]

I'd pay him back for the 2 motor rebuilds/ replacements and take my compressor home.

(Actually I'd give it to him, but above is my advice based on what I've read from OP)

 

[-Brent-]

Apparently you value a ten year-old high-maintenance compressor more than a 10+ year friendship?

Personally, I'd leave the compressor as a thank-you for letting you use his building for the last few years until you got your own place.

No one likes a cheap ******* who has to wring every last cent (and all of the fun) out of every transaction. Try life on the other side for a change; you'll find it refreshing.

Perfectly said.

 

[ranger302]

if he has maintained it for ten years and you're friends and he was man enough to never ask you to pitch in for repairs :

Shake his hand, it's his.

You wanting any amount for a ten year old compressor is not something i would do.
You wanting full price is a bit odd.

this x2

 

[steveo3002]

let him have it , you never know you might need some help one day

 

[abvw]

Not worth losing a friend over a piece of used equipment. Sure it's $1700, but sometimes a favour is worth more than that.

 

[blackedout12v]

its not $1700 anymore regardless of who used it. it is used!! my advice is never go halfsies on anything else in the future.

 

[Fretters]

Quick background. About 10 years ago my buddy and I built a shop together. The building is his with most of the stuff inside mine. We did a lot of side work together plus working on our own junk. Last few years I have done less and less there. He has pursed side work to the point he LLC the shop and has a small business fixing cars beside his day job. I just bought a new house that has a second garage that is pretty much a turnkey shop for myself. Ownership of idems in the shop are clearcut so removing my tools and equipment is not a problem. Where my question lies is with my air compressor. I have a 7.5 HP 80 gallon IR I bought brand new for $1700 and it has been in that shop since day one. I feel life is easier for him to buy it from me instead of me moving it. I will be buy a new Quincy or Saylor Beal in a year or so. We have briefly discussed this in the past. In the 10 years I have had it, he has taken care of the issues with it. Sitting in the unheated part of the shop, it had eaten a couple of belts. Also the motor has been rebuilt twice. All times, he has gotten it fixed by himself and told me about it later. Never asked to settle up. So what do I ask for price? My feelings is since he had had use of it since brand new, I'd like what I paid for it. Do I have my share of use, yes, but he is the one racking the real hours on if. Am I asking for a fair price, if not what is. I what a sound train of thought on this.

Unless there's a lot of other information which you haven't mentioned regarding this 'friendship', I'd honestly say you'd be doing the other chap a favour by going ahead and asking full price. It might wake him up a bit regarding choosing whom he acquaints with in future, and with regards to tweaking and cropping his current list of acquaintances.

It sounds like you've had a ****** good deal all round over the last ten years or so, but it sounds like that friendship is most definitely skewed. Let him have the ****** thing. Considering asking full retail is simply insane, even if you don't like each other that much.

 

[Tronyadorable]

All just opinions

 

[Lookin4'67Galaxieconv]

You sir, are a **** for even thinking about asking full price.

Wow. You're a real douche. So, you think you can still make money by paying him back for repairs, then have home give you that money back, and then some? I thought I was the only piece of work around here.

Responses like this are why I would never ask a question like that on this forum. A lot of people look for any excuse they can find to rip you, facts be damned. Just b/c you jerks don't agree with him doesn't mean you have to call him what you did. Pathetic.

OP did say the guy was making out like a bandit on a lot of other stuff, but I guess that doesn't matter to you.

I agree with Brad54's response.

 

[anotheroldguy]

Give it to him. You don't really want it, it's old and worn out. Ypu've already stated that you want a new one. Have him come over and help you bring in your new one when you get one. Then he can tell you about his new one and the chump that paid him a grand for your old one! I suspect that is your fear above the "friendship" you claim to have with him. Money over friends? You needs that kind of friend?

 

[Moose97]

OK, You've got a 10 year old compressor you paid $1700.00 for. He built a shop. You've both used it but him more. He rebuilt the motor twice plus other maintenance. Who paid the electric and water bills? Who paid the taxes? You can't possibly expect to get full "new" value from it. At best if you should get anything it would be half of what current "used" value is.

If it were me, I'd walk away and leave the compressor with him.

Keep the friendship.

 

[LEVE]

Hummm... I'm getting the impression that no one believes:

"This ain't personal, it's business."

 

[Casey69]

If he has maintained it for ten years and you're friends and he was man enough to never ask you to pitch in for repairs :

Shake his hand, it's his.

You wanting any amount for a ten year old compressor is not something I would do.

i agree. the most $$$ i would ask is for a comparable used one. i'm assuming it's had it's share of wear & tear if the motor's been rebuilt twice. granted, he's the one that's put most of the wear & tear on it. if i were him, i'd just tell you that you can have it & i'll buy a new one.

 

[sawbuck]

we have a different definition of what a friend is...

 

[Chasbec]

If I were him I would have a brand new one installed and yours out in the driveway waiting for you when you got there

X2. This is what you deserve.

 

[Richard Cranium]

Bobcat, I have read this whole blog, True no one ever wants to loose 1700.00. This I can agree with you on. I look at it this way. It is 10 yrs old so that is like 170.00 per year or less than 15.00 per month. I would gladly give some one a 1700. compressor for use of a shop. In fact if some one is in central Washington hit me up I am game. Unless this friend is being a total **** and it don't sound that away just give him that ten year old worn out and rebuilt compressor. 14.67 per month is cheap rent, use fee or what ever you want to call it. Give it to him. Go buy your self a nice compressor and feel good about your self and be a man. Rich....

 

[BDT/NWMN]

Hummm... I'm getting the impression that no one believes:

"This ain't personal, it's business."

business,,, maybe a bit skewed,,, but still business...... BobCatDan didn't mention anything about a war zone..... but the number of members grinding axes, drawing swords and loading muskets is unreal...... skewed perception??? The compressor , some repairs to it, some other un-named equipment , and use of a building were the only info we had to go on.....

Use your diagnostic skills .. how can anyone make any conclusion without reviewing the ENTIRE situation...... Knowing little about the building, taxes, heat and electric expenses, snow plowing, building repairs, and who paid what is still in question... But it is obvious what the major conclusion already is...
Dan, that compressor is not worth the $1700 you think it is,,,,unless,,,,,you feel that he abused it or neglectfully destroyed it... I never met the guy,,, Did he repair your compressor so he could finish his work,, or to be a nice guy??? There may well be too much red tape and detail that is beyond the scope of a GJ Forum

 

[PugetDude]

business,,, maybe a bit skewed,,, but still business...... BobCatDan didn't mention anything about a war zone..... but the number of members grinding axes, drawing swords and loading muskets is unreal...... skewed perception??? The compressor , some repairs to it, some other un-named equipment , and use of a building were the only info we had to go on.....

Use your diagnostic skills .. how can anyone make any conclusion without reviewing the ENTIRE situation...... Knowing little about the building, taxes, heat and electric expenses, snow plowing, building repairs, and who paid what is still in question... But it is obvious what the major conclusion already is...
Dan, that compressor is not worth the $1700 you think it is,,,,unless,,,,,you feel that he abused it or neglectfully destroyed it... I never met the guy,,, Did he repair your compressor so he could finish his work,, or to be a nice guy??? Threre may well be too much red tape and detail that is beyond the scope of a GJ Forum

Which branch of government do you work for?

 

[Fretters]

I look at it this way. It is 10 yrs old so that is like 170.00 per year or less than 15.00 per month. I would gladly give some one a 1700. compressor for use of a shop.

That's the main way I look at it. I'd kill for a deal like that on workshop rent. Plus, there's also the other side of the coin, regarding the compressor. His mate might have got some totally different brand or type and ended up spending far less on it over time if someone elses compressor hadn't been taking up that space in the workshop. He used it as it was available, but that doesn't mean it would have been what he would have chosen if sorting his own.

 

[packofqtips]

why stop at $1700 after all he made money using your compressor why not ask for an even $2k?

 

[Whitworth]

A 10 year old, well used, consumer grade compressor is worth not much in my opinion.

Sell it in Craig's for $300 or so and then split the cash between the two of you.

Just amazingly aweful to want $1700 at this point. It's like a nasty breakup fighting over the cost of an engagement ring. But he just can't take the compressor and fling it at you.

G