are used tool prices declining?

[Vinko]

I haven't participated as much on this forum as I would've liked over the past few months. It struck me, however, that the tools on the classifieds aren't going for as much as they used to. Or at least that there aren't as many people pouncing on the deals or with offers like there was a year or two ago.

Is this right? Does this observation ring true to you as well? Or am I just misremembering what it was like a while back?

If this is true, what are the contributing factors besides the economy? One factor might be that given the internet and the low margins, cutting out of the middle man, and so forth, that some really good quality new tools are priced pretty cheap. When you can get a few pairs of Knipex pliers new for cheap on amazon (esp. during the price drops), I wonder if this fact makes the appeal of used tools at former prices less enticing.


I noticed box prices in my area are declining as well. Or at least those that are priced like they were say 3 or 4 years ago, aren't selling (or don't appear to be selling for asking price or at least as quickly).

My SnapOn driver tells me business is good but he's got a work a lot harder than he has had to do in the past.

 

[diesel research]

Used basic tools are generally not very appealing to me except in cases of a "fire sale". Random used loose ratchets, sockets, screw drivers, or wrenches, don't particularly "rev my engine". Sets pique my interest quite a bit more.

Couple that with a personal "booming economy", and used just doesn't make a whole lot of sense in many cases. Some say they love the history of used tools. I say I couldn't care less, I am going to make my own history. Probably the biggest factor is simply already owning most of the garden variety stuff others are selling. Not to mention my recent philosophy on trying to own tools that serve the most flexibility with the least storage requirements. Example: a draw full of screw drivers vs a impactor and a handful of bits....

Specialty tools, storage, custom, unique or priced to sell, suddenly gain my interest quite a bit more.

 

[wolflrv]

I'm admittedly the exception to the rule, but I typically only buy tools when I need them for a job. I do however believe in the right tool for the job, so I don't hesitate if it will make the work better, faster or more comfortable to do.

That being said, I guess if I have any tool brand loyalty it would still be to Craftsman. It doesn't always mean I buy Craftsman though. I have tools from Harbor Freight, Lowes, Ace Hardware, Autozone, Oreilly's, Tractor Supply, Highland Woodworking and various Amazon purchases. I live in a small town with limited resources for equipment. We do have a booming flea market and a guy there refurbishes old tools and I've gotten several good deals there as well.

When I moved into my house and built my shop about 6 yrs ago, I had a circular saw, a drill and a small hand-carried toolbox with a few hand tools in it. Now I have a fairly complete woodworking shop and am also pretty good on auto/motorcycle maintenance and almost complete on HVLP spray setup.

I just don't add tools for the sake of "collecting". I shop very hard though when I do NEED something for a project. My goal thus far has been to have one of everything I need, as I need it. I've pretty much accomplished that now, so as older, cheaper tools die out or break, I'll be looking to replace them with upgrades as needed. I won't be looking for old, used tools either, but better more powerful, ergonomic tools that are more efficient for the task. So I guess the used tool market isn't high on my list of shopping sources and my needs are independent of any economic upturn or downturn. In fact I'm more likely to buy the good tool and do the work myself in this economic climate, but I want the price/value of that tool to be worth the investment.

 

[mrholeshot]

I would tend to agree with you. I'm not buying many used tools at the moment because they arn't reselling very well. I picked up a nice KRL1003 in a swap for a old Nova body so I put my KRL 1001 (very nice) on Craigslist for 2K. Not a single call. I just decided to see if the economy picks up before selling anything else. Thought about putting a bunch of new snap-on ratchets in the classifieds but after shipping I'd be giving them away. Tools seem to be in the toilet right now

 

[jose.olivo1]

i agree but in my area for some reason people are selling there used tools almost like new and expect to get almost the full price for the tool. i went to a pawn shop for some 3/8 impact sockets and for a torque wrench, they both were snap on well the guy wanted $250 for the impact sockets and one of them was really badly used while they wanted $200 for the torque wrench 50/250 that was not well calibrated. to me thats almost paying for a new one. so i guess depending on where you live prices are down but here in virginia people want what they almost paid for the stuff...

 

[SpiderGearsMan]

there are better ways of making money than selling old tools

 

[glenmore]

but he's got a work a lot harder than he has had to do in the past.

I think we are all pedaling faster to keep up.

It has always been difficult to sell a box but now even more so.

I'm dying to get this Lista box but I won't because I'm sure I'll have a rough time selling my Snap-On box for a reasonable price.

 

[Outlawmws]

It's always going to be up or down depending on supply and demand. What people are asking for their tools is irrelevant. It's what people are actually willing to pay that matters, and with the economy still slow, and a lot of people on hard times, generally almost everything is lower.

I have gotten some great deals on tools in he past year or two, and I have to say, this summer has been better as a buyer. There are lots of moving sale, and a lot of the baby boomer generation are leaving us and there families, and the resultant estates sales can be good pickings in the garage.

 

[woody 73]

The one shop i visit the man has very good deals on his used tools but here of lately he is selling only a few tools and now he is selling used furniture. I did manage to talk to him about why more furniture and less toos and he told me that the furniture was paying his bills and the tools were not!

 

[theoldwizard1]

People around me are still asking a lot for used power tools. I don't know if they are getting it.

 

[diesel research]

i agree but in my area for some reason people are selling there used tools almost like new and expect to get almost the full price for the tool. i went to a pawn shop for some 3/8 impact sockets and for a torque wrench, they both were snap on well the guy wanted $250 for the impact sockets and one of them was really badly used while they wanted $200 for the torque wrench 50/250 that was not well calibrated. to me thats almost paying for a new one. so i guess depending on where you live prices are down but here in virginia people want what they almost paid for the stuff...

1. pawn shops are not in the business of selling goods, they are in the business of high interest loans.
2. if you insist on shopping at them, understand they are to be negotiated with, but feel free to walk away.
3. I have no idea how you verified the calibration in store. Is this one of a few mythical pawn shops with a torque tester on the counter? Or are you taking a wild guess at the calibration?

 

[jose.olivo1]

1. pawn shops are not in the business of selling goods, they are in the business of high interest loans.
2. if you insist on shopping at them, understand they are to be negotiated with, but feel free to walk away.
3. I have no idea how you verified the calibration in store. Is this one of a few mythical pawn shops with a torque tester on the counter? Or are you taking a wild guess at the calibration?

i know that about pawnshops, the reason i know that there not calibrated is cause none of them were on the zero, i think you know how it goes as far as springs goes and how they retain memory after a while if not put back to zero the same is true for micrometers, so thats why i know that the tool was not worth buy. at the end if you buy it then you will have to send it in to snap on to get it calibrated and they charge $80 bucks.

 

[franzdom]

i know that about pawnshops, the reason i know that there not calibrated is cause none of them were on the zero, i think you know how it goes as far as springs goes and how they retain memory after a while if not put back to zero the same is true for micrometers, so thats why i know that the tool was not worth buy. at the end if you buy it then you will have to send it in to snap on to get it calibrated and they charge $80 bucks.

Uh, ok, they are NEVER supposed to be on zero, but on the lowest setting.

 

[warmpancakes]

in the us prices are down ive been shipping alot to austrailia and after shipping the are at or above USA retail

 

[jose.olivo1]

Uh, ok, they are NEVER supposed to be on zero, but on the lowest setting.

ok ill correct my self the lowest setting would be the lowest number, which in terms would not be zero but can be considered a zero...

 

[Packard V8]

It struck me, however, that the tools on the classifieds aren't going for as much as they used to.

FWIW, the question was about the classified section here on GJ. What I've seen happen is a huge increase in the number of sellers. We've gone from a few guys trading extra tools and finds to a lot of guys trying to feed the family by selling used tools here. Prices aren't down so much as supply and competition for the same buyers is up.

jack vines

 

[american lockpicker]

Not good I was about to put up some tools for sale.

 

[Danglerb]

Real prices are often not public, people asking $$$ for months and accepting $$ or $.

Flippers skew pricing, and represent much of the low price buying activity and high price selling activity. When low price sources dry up, flippers can't buy and sell and make the profit they want to make, so even though the seller price is more than it may have been in the past, a buyer dealing with them directly will be paying less with the flipper out of the deal.

 

[dwm]

The OP was about the classified here, but it's happening locally here too. Since I almost never sell tools, I'm fine with it; I'm a buyer much more often than a seller. However, I am occasionally a slight casualty. I was watching a KRA2411 on eBay this week that was only a few miles away. Excellent condition, the auction was going to end today. I had a snipe set on it. The seller didn't use a reserve, and the high bid only went to $710 the last I checked. He pulled the listing before the auction was going to end. Possibly because he was dismayed by the bids, or maybe someone offered him a more reasonable price outside of eBay.

 

[AZ_Catskinner]

My girlfriend does a lot of selling on Ebay (mainly random clutter that has been deemed useless to us) and the selling prices on most stuff have been declining slightly. I think it's just mainly that school is starting up again, and people are starting to rathole a little for the holidays.

 

[Gary S]

I'm seeing exactly the opposite. Around here, used tools in good-as-new condition command a price equal to similar new tools simply because the old tool is made in the USA while the new one on the dealer's shelf is made in China.
I am willing to pay for used "made in the USA tools" rather than new ones "made in China" that are selling for the same price, and apparently lots of other people are willing too because prices reflect it.
Now, I'm talking about tools that have been taken care of and sets are complete. People's left over junk of odd parts don't count as tools. I don't want an odd collection of junk cluttering my tool boxes.