Got $65,000?

[Damian]

$65K for a tool box/tools in this economy? The guy is in for a reality check, plain and simple. I'm sure after getting 700 emails about splitting up what's in the box he'll either take the ad down or get the hint that he needs to split things up to make any money off his investments.

$65K worth of tools is very common over a 20+ yr span. I'm into for 15 years, and I'm probably in the 30-40K range total (air compressors and all). But expecting some dude to knock on your door and hand you 65 grand for a box of tools is a bit ridiculous.

 

[Toolhorder]

The problem with this forum is most here are not professional techs and don't see the value in truck brand tools unless they are at C-man prices. This forum has always had this issue and probably will always have this issue so you're going to get different opinions about the price.
Personally I think it's too much but I'm sure I have more tools than that picture and I paid more than 65K. Offering a guy $6500 for that lot though is just as absurd.

 

[Skin]

dont disagree but as a seller you'd have to question who exactly you're marketing to? I cannot think of anybody who is going to have 65k just lying around for some guys tool collection. He needs to be realistic and start parting that stuff out as opposed to living in la-la land where new or current mechanics just have 65k sitting in their bank waiting for a used tool lot.

And unless there are a lot of expensive diagnotics equipment in those compartments he'll realistically be lucky to get 20k after all is said and done [i'm assuming theirs more filling his drawers than sockets and combo wrenches] . Basic hand tools and a medium size box with all its add-ons is not worth anything close to 65k.

 

[route246]

Expecting someone to come up with $65K is about as absurd as offering $6.5K for the goods. Anyone with $65K cash laying around is not going to buy used tools, plain and simple. That is some serious cash. You can get a real nice set of tools and cabinet off of a truck for $65K and they would be all tools you hand pick, not someone else's liquidation assortment.

The problem with this forum is most here are not professional techs and don't see the value in truck brand tools unless they are at C-man prices. This forum has always had this issue and probably will always have this issue so you're going to get different opinions about the price.
Personally I think it's too much but I'm sure I have more tools than that picture and I paid more than 65K. Offering a guy $6500 for that lot though is just as absurd.

 

[TheGrooveking]

The Studer A827. Quite possibly the finest 2" 24 track analog deck ever built. I got to get to know one at the first studio I worked at.

To me it sounds night and day better than any ProTools rig I've worked with/on, give me analog anyday. I'll give digital the control but my ears always miss something when I listen to music that is digital. My Micro Seiki & Dual turntables and Nakamichi cassette decks still see regular use along with my B77 Mk II and my Otari 5050.

TheGrooveking

 

[dirtrider]

Expecting someone to come up with $65K is about as absurd as offering $6.5K for the goods. Anyone with $65K cash laying around is not going to buy used tools, plain and simple. That is some serious cash. You can get a real nice set of tools and cabinet off of a truck for $65K and they would be all tools you hand pick, not someone else's liquidation assortment.

I agree ^^^, I mean c'mon with the economy the way it is I don't know many techs or any for that matter that would have 65 thousand laying around to buy tools with . Most people that have that kind of money laying around are not the people out there actually doing any kind of manual labor work themselves (just saying), so they probably don't need those tools in the first place and if they did why not buy brand new,make a good relationship with the dealer, hand pick the tools you wan't, receive them brand new and get service from the dealer. I bet this ad is one of those I don't want to sell my tools, but I'll ask a ridicules amount and if someone pays that amount I'll be set and if they don't well I didn't want to sell them in the first place type of deals. I mean there is no listing of any of the tools no descriptions no anything just the box and a few drawers and the price, this guy is obviously shooting for the moon and knows he won't hit it just so he can tell his wife he tried to sell it LOL.

 

[catfish]

Can you recommend a high quality cassette player.

http://en.wikipedia.org/wiki/Nakamichi
Or for lower end (IE practically free nowdays) Technics/Pioneer Japanese made models.Get seperate components and not a inbuilt CD/tape/radio stereo setup.

 

[Skyline]

The problem with this forum is most here are not professional techs and don't see the value in truck brand tools unless they are at C-man prices. This forum has always had this issue and probably will always have this issue so you're going to get different opinions about the price.
Personally I think it's too much but I'm sure I have more tools than that picture and I paid more than 65K. Offering a guy $6500 for that lot though is just as absurd.

There's nothing wrong with the evaluations made by the folks here. A large number, myself included, actually do buy collections of used tools from time to time. New retail price has little bearing on used value. Only an idiot would pay $65k for this, this will NEVER sell at anywhere near that price. $5-6k is all the box will bring, and 20% to 25% of new value for the rest if sold as a lot. If he breaks it up into 250 eBay auctions, he could up that 20-25% to 35-40%.

The only way to come out whole selling a collection of tools is if you bought them used to begin with, AND you split it all up.

 

[mrholeshot]

The problem with this forum is most here are not professional techs and don't see the value in truck brand tools unless they are at C-man prices. This forum has always had this issue and probably will always have this issue so you're going to get different opinions about the price.
Personally I think it's too much but I'm sure I have more tools than that picture and I paid more than 65K. Offering a guy $6500 for that lot though is just as absurd.

I am and I can tell you where the problem is. Every technician builds his tool collection around his skill set and past to current job position. Many things like air tools are of personal preferance and just arn't worth much on the used market despite the original high cost. I had 1" IR impacts that sold for 65 dollars and were is very good condition. Years and years of scan tools and other diagnostic equiptment that won't bring enough to justify selling them. Bottom line is that the only thing that really sells and brings a decent amout of money are hard hand tools. Then many may be old and outdated, owners marks or no longer made. Then you have to find someone who likes that paticular brand that you own and if it's a truck brand people nomally won't buy unlesss they have a good dealer. The the toolboxes. You take a huge hit in tool boxes when you sell them. I had a top, bottom, full length side and short side based of my 1350 Macsimizer. Nobody wanted to buy the entire set up so I sold the top to one person, the full length side to another and the bottom and short side to someone else. It brought about 25% of new value and were in excellant condition and only about 4-5 years old. In reality I doubt he would find someone that would pay him 6500 dollars cash for the entire collection in one stroke. He would need seperate it and sell it off. He will do good to recoupe 12K if the box is nicely filled with top line tools. Tools are like buying a set of custom built golf clubs. They are built around your every need and skill. It's doubful you will find someone with the exact same fit. It's a hard reality check but one I've been through.

 

[wchamberlain]

I concur with Skyline and Mr Holeshot. 65K is crazy for any tool collection........If it was all new and the box as well, he could warrant some pricing, but not for used and approximately 20+ years old. But ebay has certain fools out there with more $$$$$$$$$ than brains and I have seen some crazy sales.

 

[poprockcrusher]

I was at 65k in 1989

190k now ..retail with 5 3/4 sales tax paid too

 

[mrholeshot]

I was at 65k in 1989

190k now ..retail with 5 3/4 sales tax paid too

Not even close

 

[jessemac]

It's funny I feel like a couple posts ago everybody was talking about building tool equity and the investment in tools for future resale by buying the more expensive tools. (maybe a craftsman dogging post I can't remember) I think if you're a professional and you need a quality tool you can trust will hold up buy the best possible or if you open a tool box drawer 200 times a day buy the best tool box otherwise if you want equity buy property (maybe). I’d rather spend 65k on some land to build a shop on and stick with my craftsman tools and boxes. Then again I don't feed my family with my tools, but if I did I wouldn't expect good equity out of them.

 

[ehegwer]

some of those mechanics think they are gonna get instant retirement money by selling the whole lot at once.

the toolbox and both lockers might bring $5000, i don't even see that because that toolbox is like 17 years old

I agree - I think he wants to sell his tools to fund his retirement. You'll get a better return in the stock market - but barely.

 

[ehegwer]

It's funny I feel like a couple posts ago everybody was talking about building tool equity and the investment in tools for future resale by buying the more expensive tools. (maybe a craftsman dogging post I can't remember) I think if you're a professional and you need a quality tool you can trust will hold up buy the best possible or if you open a tool box drawer 200 times a day buy the best tool box otherwise if you want equity buy property (maybe). I’d rather spend 65k on some land to build a shop on and stick with my craftsman tools and boxes. Then again I don't feed my family with my tools, but if I did I wouldn't expect good equity out of them.

I only buy quality tools because the cheap ones break on me, and it saves on hospital bills.

 

[Boiler]

If there was 100k retail in relatively clean, unmarked, unbeaten tools there (after 30 years...) and they were all snap on, I'd give him $15k in a heartbeat. Box is worth 2-3 to me and I would try to avoid getting it unless I got a great price on it.

Problem is you know there have got to be things other than snap on there, which pretty much means a lot of it won't reliably get 40% of its retail price when resold.

I've seen it over and over. Ask guys to separate tools from boxes or snap on from craftsman and mac, and they say no. They truly think they'll get more if they sell it all in one chunk. Guys with money have what they need already, guys who still need a lot of stuff don't have the money (or they would have bought what they needed). About the only people I can see buying a whole collection like that are resellers, old farmers, and guys with insurance checks looking to replace stolen / burned tools. If he can get $20k he should run! I see very few people willing to deal with the effort involved in turning a profit on it that would put over 10k in it. Spending 10k for the opportunity to work a second job cleaning, organizing, listing, packaging....pretty hard sell.

 

[route246]

I am a serious photographer by hobby, not by profession. I buy the equivalent of Snap-on for my gear. While lenses doesn't have the lifetime warranty they do retain good value. But, I can tell you from personal experience that you would never recoup much money trying to sell a collection of anything. It has to be broken up. People just don't have that kind of cash laying around and if they do they buy new. When I buy gear I use it and I use it like a pro (I don't pamper it and I don't covet it, I shoot photos with it and I am a little rough with my gear, but I am not abusive). In other words, I get good use out of it. I received value for my money just like this guy did for his tools. In a lump sum of that magnitude he is going to be lucky to get 10-cents on the dollar. Nobody, and I mean nobody is going to give him a sniff. There is nothing collectible that I can see so asking for that sort of premium is just not realistic.

I am and I can tell you where the problem is. Every technician builds his tool collection around his skill set and past to current job position. Many things like air tools are of personal preferance and just arn't worth much on the used market despite the original high cost. I had 1" IR impacts that sold for 65 dollars and were is very good condition. Years and years of scan tools and other diagnostic equiptment that won't bring enough to justify selling them. Bottom line is that the only thing that really sells and brings a decent amout of money are hard hand tools. Then many may be old and outdated, owners marks or no longer made. Then you have to find someone who likes that paticular brand that you own and if it's a truck brand people nomally won't buy unlesss they have a good dealer. The the toolboxes. You take a huge hit in tool boxes when you sell them. I had a top, bottom, full length side and short side based of my 1350 Macsimizer. Nobody wanted to buy the entire set up so I sold the top to one person, the full length side to another and the bottom and short side to someone else. It brought about 25% of new value and were in excellant condition and only about 4-5 years old. In reality I doubt he would find someone that would pay him 6500 dollars cash for the entire collection in one stroke. He would need seperate it and sell it off. He will do good to recoupe 12K if the box is nicely filled with top line tools. Tools are like buying a set of custom built golf clubs. They are built around your every need and skill. It's doubful you will find someone with the exact same fit. It's a hard reality check but one I've been through.

 

[IndyGarage]

Obviously a touchy subject, but it's just economics.

As someone said earlier, noone buys 65K worth of 10-20 year old used hand tools - unless they were $300+K new. Expecting to get 65% of your money back on tools is ridiculous.

Here's why: When you buy those tools off the truck, they are really only worth a percentage of what you paid for them, right off the bat.

Some of the money you spent on new truck tools went to taxes, some of it went to financing, some of it paid for the guy to get it from the warehouse and drive it to you, some of it went to warranty and profit.

And so, that brand new tool that you just got off the truck, might in reality only be worth 65% of what you paid the day you got it. Now if you have a job and a use for the tool, it's well worth it, but you used that 35% up immediately in convenience.

Now, you start to use the tools, some of them get wear on them, some of them get damaged. Some of them become obsolete, because something better comes along, or they are no longer used on the equipment you are working on. Some of them get lost, or broken or "borrowed" and the set becomes mismatched. Now you lose another 30% or more because of wear and use.

Now, new technology or new competitors enter the picture, and build something that's maybe even better or more durable, or maybe just as good but cheaper. Maybe the brand you spent your money on is no longer as desirable as it once was. You lose another 10-20% of the value of the tools.

Now your down to 15-20% of what you paid for it, which is what it's really worth.

There are a few folks here who are tool collectors, who love them for what they are. They are willing to pay a premium to have just the right models, and styles and condition. But for 99% of the people out there, tools are just tools. The things tools are used to build or fix or maintain are the valuable things, not the tools.

Don't get me wrong, I love my tools. However, I love them for what they allow me to do, and I hold no illusion that if I were to go tomorrow, nobody would know what half of them are, and they would get sold off for nothing.

When you are done with them, with 90% probability, you or your heirs will have the same experience this guy is going to have. You will think about all the money you spent on them, and wonder why nobody else wants to pay near what you did. It's not likely anyone will, unless you have something really rare, or really specialized, so enjoy them for what they are now.

 

[poprockcrusher]

Not even close

I added it up

 

[route246]

Restaurant owners face the same problem. They can never get what they put into a place when they go to sell and can't understand why people are not willing to give them a price they want for it. The truth is, they are competing for the same dollars that buy on ebay, flea markets and garage sales. The only possible way to recoup even 20% is to have something of value to go along with it such as a route, loyal shop clients or a real good lease on a prime location. Just peddling a bunch of used tools is not going to yield you something in excess of the wholesale price of new which is what this is.

This is a distress sale for all intents and purposes. It is being done because there is no need for these tools anymore. Buyers know this. They know that there are alternate sources of the same stuff at a much lower price. It is simple economics. It's just supply and demand.

I have a friend who tried to sell a car at way over market price. He tried for a year and nobody was interested. He dropped the price multiple times. I told him it's too expensive. He told me it was a nice car and he took good care of it. I told him to list it at low book and when he finally did offers started trickling in. He eventually settled for $400 under low book which is about $2000 under what he was originally expecting. When harsh reality settles in deals are made. Until that time the seller is just wasting his time.

Obviously a touchy subject, but it's just economics.

As someone said earlier, noone buys 65K worth of 10-20 year old used hand tools - unless they were $300+K new. Expecting to get 65% of your money back on tools is ridiculous.

Here's why: When you buy those tools off the truck, they are really only worth a percentage of what you paid for them, right off the bat.

Some of the money you spent on new truck tools went to taxes, some of it went to financing, some of it paid for the guy to get it from the warehouse and drive it to you, some of it went to warranty and profit.

And so, that brand new tool that you just got off the truck, might in reality only be worth 65% of what you paid the day you got it. Now if you have a job and a use for the tool, it's well worth it, but you used that 35% up immediately in convenience.

Now, you start to use the tools, some of them get wear on them, some of them get damaged. Some of them become obsolete, because something better comes along, or they are no longer used on the equipment you are working on. Some of them get lost, or broken or "borrowed" and the set becomes mismatched. Now you lose another 30% or more because of wear and use.

Now, new technology or new competitors enter the picture, and build something that's maybe even better or more durable, or maybe just as good but cheaper. Maybe the brand you spent your money on is no longer as desirable as it once was. You lose another 10-20% of the value of the tools.

Now your down to 15-20% of what you paid for it, which is what it's really worth.

There are a few folks here who are tool collectors, who love them for what they are. They are willing to pay a premium to have just the right models, and styles and condition. But for 99% of the people out there, tools are just tools. The things tools are used to build or fix or maintain are the valuable things, not the tools.

Don't get me wrong, I love my tools. However, I love them for what they allow me to do, and I hold no illusion that if I were to go tomorrow, nobody would know what half of them are, and they would get sold off for nothing.

When you are done with them, with 90% probability, you or your heirs will have the same experience this guy is going to have. You will think about all the money you spent on them, and wonder why nobody else wants to pay near what you did. It's not likely anyone will, unless you have something really rare, or really specialized, so enjoy them for what they are now.

 

[Packard V8]

FWIW, I've been part-time building and selling rods, customs, race cars and just plain used cars for fifty years.

With a used car, it is easy, book is book. Dealers I know are on line watching auctions all over the country in real time. They know to the penny what a used car is worth on a given day. Some numbnuts think they can sell a used car for high book themselves and beat the dealer. Like the friend above, they usually learn the hard way.

With a rod or custom, consider it lucky if the sale brings back half the dollar cost of the base car and parts, nothing for the labor. As was said about the $65,000 box of tools, a built car is one man's vision of what he personally wanted. After 20-30 years, he's already gotten the shiny off the new and it is difficult to find anyone else who is going to have exactly the same need or see the same value.

Naturally, a race car gets used up. With a complete race car, many sell for 25% on the cost of parts, nothing for labor. Everyone either thinks he can build a better/faster car, or wants a new turnkey.

Your results may vary on any specific car, but the above holds true in the long run.

jack vines

 

[metalhead212121]

skyline- just for shits... how much would you give the guy if you bought the box and tools? It's none of my business what you would MAKE on the deal... just wondering what you'd pay for it.. Obviously you'd have to see everything in the box to make a offer.... just curious on your thoughts..

Dan

 

[route246]

It's funny how supply and demand works in a marketplace. A friend of mine who is a CPA told me that it is never difficult to sell a home. It's just difficult to sell a home for more than what the market will bear. He told me he can always sell a home almost immediately and have multiple offers if he prices it correctly. He told me there is no such thing as a slow or soft market. The market will always be 100% correct at any given time. If it is out of whack one way or another the smart money will make sure it gets corrected immediately. The only thing that makes it appear to be slow or soft is sellers' unwillingness to face reality.

When I collect enough stuff for a garage sale I usually piggy-back on a neighbor's setup. I sell good stuff only and donate clothes and other things that don't have much value in a garage sale environment. By "good stuff" I mean stuff that I would be interested in, not old dishes or junk furniture. I price my stuff at such a level that it is irresistible to buyers. My stuff always sells out within 30-60 minutes. People are amazed. I usually offer the neighbor 50% of whatever they can sell. This is all stuff that for whatever reason I don't want anymore, such as this guy's $65,000 tool hoard. Either I want it or I want to get rid of it. I have to figure that out. I don't care how much I paid for it. If I want to get rid of it I will price it so that it will sell almost immediately. I want my buyers to be so happy that they think they ripped me off, if that is possible. If I were so attached to my $65,000 tools I would not sell them because I know that they are worth that much to me and worth only 10%-20% of that to someone else. Sure, someone else is going to get a good deal off me if I reduce my price 80%-90% but I will be rid of it and someone else will be very happy.

Right now I am getting ready to peddle my table saw. It's a Delta (made in USA) Woodworker so it is a decent homeowner's saw. It has a nice Vega Pro 50 aftermarket fence which ups the value. I'm still trying to figure out what to price it at on CL. I want local pickup and I don't want to deliver it. It has a nice roller stand, too. Truthfully, I just want to get rid of it because it is too big and bulky. I love that saw. I am attached to that saw. But, I want to price it such that it will sell immediately. The only thing that's holding me up now is I need to clean it up and prep it for sale (it's dusty and loaded with sawdust and needs to be blown out and vacuumed). I'm trying to figure out what to sell it for. I will keep the blade (Forrest) and I have a brand new DeWalt blade for it. I'm thinking $200 for the saw and fence. I think someone is going to be getting a very good deal but I'm not sure. Maybe I should price it a little higher and I'm still trying to figure out what the magic number is. The point is, I'm even willing to give it away to a close friend or relative if they can use it and appreciate it, but so far, no takers. It's definitely worth $200 to someone in my opinion. If I am totally out of whack at $200 like this guy with the $65,000 hoard of tools, the lack of CL response will tell me that very quickly. I don't know what a fair price is for my saw and fence, but I will soon find out as soon as I get it ready and list it.

FWIW, I've been part-time building and selling rods, customs, race cars and just plain used cars for fifty years.

With a used car, it is easy, book is book. Dealers I know are on line watching auctions all over the country in real time. They know to the penny what a used car is worth on a given day. Some numbnuts think they can sell a used car for high book themselves and beat the dealer. Like the friend above, they usually learn the hard way.

With a rod or custom, consider it lucky if the sale brings back half the dollar cost of the base car and parts, nothing for the labor. As was said about the $65,000 box of tools, a built car is one man's vision of what he personally wanted. After 20-30 years, he's already gotten the shiny off the new and it is difficult to find anyone else who is going to have exactly the same need or see the same value.

Naturally, a race car gets used up. With a complete race car, many sell for 25% on the cost of parts, nothing for labor. Everyone either thinks he can build a better/faster car, or wants a new turnkey.

Your results may vary on any specific car, but the above holds true in the long run.

jack vines

 

[american lockpicker]

Good post route246. I often sell stuff I get bored with to dealers at flea markets I only have quality and my prices are great so I always have an easy time selling.

 

[A_Pmech]

Where in the world is that cnc grinder sitting? It looks like an operating room. Give me one day with that sucker and I'll break her in properly, there will be grinding dust and coolant flying everywhere

No computer on that grinder, unless you count the guy spinning the handwheels.

The Swiss are fanatical like that. Note the coolant-proof curtains.

 

[Scooterfish]

Market Value = what a buyer will pay & what a seller will sell for today.

 

[Garage_Mahal]

eBay has free listings if you list the item for ninety-nine cents. A harsh lesson in "what the market will bear" try it sometime.

 

[Gregg33]

Over the years I've sold just about everything imaginable, from Mastercraft (Taiwan) socket sets, to beadlock racing wheels, to WWE action figures, even firewood. Basically I've always been cash strapped and if I want to buy new stuff or better stuff I have to sell what I'm replacing. While everything is different, overall I found most things are worth 50-60% of new if they are like new and in very good condition and find a good (not necessarily one in a million) buyer. Around 25-30% of new if the stuff is used but not really tired. Beaten up stuff, outdated stuff or if you need to sell in a real hurry 10% of new or less. As others indicated, dividing stuff up, while time consuming will get you more $. Without knowing the entire contents of the tool box(es) I'd say buddy can realistically get $6000 to $8000 and probably easily double that if he divides everything up, especially if he finds a good buyer for the tool box. $65 000 is a joke unless the tools are only a couple months old!