Looking For Help in Finding Value

[archulmk]

Hi, This is my first time here. My name is Michelle. I need help in placing value on my father's tools. He had a major stroke 4 years ago, leaving him unable to speak. He has two large toolboxes in his storage facility that we are trying to sell, along with all of the tools in them. He was a heavy equipment mechanic for over 30 years.
Many of his tools are large versions of regular socket wrenches and impacts. I simply do not know what a lot of this stuff is to even search the market value.

I recently received a quote from an auction house, $200 to sort the tools and price them; then a commission of 40% sold under $100, 25% $100.01-$500, 15% $500.01-$1000.00, etc. It seems like he would lose a ton on what is sold.

My dad is permanently disabled. I would like to get as much money from the sale as possible. Looking for advice.
P.s. I have pictures of everything if that helps.

 

[pizza]

if you want to sell things yourself instead of an auction house, i'm not sure how to do that aside from ebay, facebook, and craigslist. could be a lot of work.

if you want to know what things are called, sure, post pics. i agree, it's hard to know what things are worth if you don't even know what they're called.

i heard that you might have to make a few posts to be able to post pics, idk. just make a few random posts around the forum.

 

[theoldwizard1]

Hand tools really do not sell for much unless they are matched sets and in good condition. Wipe them clean (do not use soap and water; they will rust). If they are rusty, a few minutes with Scotch-Brite and/or steel wool will help a lot in increasing value. Check on eBay and/or Facebook Marketplace for pricing. Some people ask ridiculous prices.

You can do a lot of sorting on you own. Place all the slotted screwdrivers in one box and all the Phillips (looks like a cross or X) in another.

Sort wrenches, first by metric (mm) vs US (fractions of in.). Try to keep like brands together.

Sort socket, first by metric (mm) vs US (fractions of in.). Then sort by the "drive size" (the square hole on the back; either 1/4", 3/8" or 1/2"). A set of matching 1/2" drive Craftsman brand sockets might go for $50. Not matching, $20

 

[Old tool guy]

Hi, This is my first time here. My name is Michelle. I need help in placing value on my father's tools.

Where are you located.

 

[dcg9381]

P.s. I have pictures of everything if that helps.

I'd start two places:
1) If you can identify the tools and brands, look at ebay, search under "sold" for similar items. This will give you an idea of what they are worth on ebay. Subtract shipping and hassle factor.

2) We have a whole bunch of tool snobs here that, if you post pictures, can give you detailed descriptions on what they are and maybe a ball park value. (IE if you don't know what they are)

I'm not sure that "heavy equipment" tools are necessarily the gold standard of tools, it's a bit niche, but lets see what the experts say.

With all tools - it's going to be more profitable to sell the valuable ones individually and it'll take a lot more time. Once you have a description you can try Facebook or Nextdoor locally versus ebay.

I don't like the 40% margin on the auction house. That's nuts.

 

[finn]

This question comes up frequently here, so you might do a search.

Having said that, my take from the other threads is that you should probably go with the auction place. The sorting and cataloging will take time, and $200 is only about two hours labor. The commission sounds high at first, but then consider it takes as much work to sell a $1.00 screwdriver as a $5000 toolbox, and the rate structure might be ok. Not many businesses can survive at a margin less than 40%.

You could do it piecemeal on Marketplace, but then you have to deal with the rif-raf, most of who want to give you far below market value so they can resell at a profit. The auction gives you real market value at the time, date, and market when you sell, not a pie in the sky value or a lowball value. It’s a real number.

Also, consider your time investment in time to piecemeal the sale, and you’re going to be stuck with some things that will probably end up in your basement forever, or you’ll donate to Habitat.

Lots of people will want to cherry pick (and lowball). If you let that happen, even the auction house won’t entertain selling the worn out, worthless remnants.

 

[archulmk]

Where are you located.

Denver, CO

 

[Zewnten]

The auction is going to be your best bang for the buck unless you’ve got nothing more profitable to do than maximize the amount each tool sells for. Pawn shops will rob you but are a good place to dump the auction left overs.

Listing things on eBay is a skill to maximize price. One of those professional lister would probably take about the same as the auction but you would have the ability to set your prices.

A tool truck would be the best option for selling the boxes. Did your dad have a tool guy still in business? I used to live in Denver and might be able to put you in touch with some tool trucks and they might know who would be able to sell it. All of it is going to require patience and if you need money now or for them to sell before a certain time like Medicare kicking in I’d go with the auction.

 

[RTM]

There is a fantastic 2nd hand tool store in Denver that might make you an offer on everything, but it won't be your highest $$ return. The auction house route may return more, especially if you find one who does online sales. Check HiBid to see who is in your area, to see if they have previously done tool heavy auctions. (Some really make a mess of them.) Others bundle stuff so a cherry item is paired with junk that won't sell easily, so they don't need to dispose of the dregs later. You want one that takes good pix, and gives good description, so the buyers can find the good stuff.

Individual sales will generate the most $$, but also require the most work, by you or other family members.

Charlies Denver on Larimer, website acting up on my phone.

https://www.usedtoolsplus.com/

Good luck, keep us informed, he may have stuff someone here wants.

 

[FJ 432]

Denver, CO

I would be happy to help.

 

[Shiftless]

I would be happy to help.

That’s the spirit of GJ

 

[Rusted Nut]

You might try going back to the shop your Dad worked at, and ask if anyone there is interested or know who would be interested in buying the tools. They could also possibly help with value.

 

[isb cornbinder]

Hi, This is my first time here. My name is Michelle. I need help in placing value on my father's tools. He had a major stroke 4 years ago, leaving him unable to speak. He has two large toolboxes in his storage facility that we are trying to sell, along with all of the tools in them. He was a heavy equipment mechanic for over 30 years.
Many of his tools are large versions of regular socket wrenches and impacts. I simply do not know what a lot of this stuff is to even search the market value.

I recently received a quote from an auction house, $200 to sort the tools and price them; then a commission of 40% sold under $100, 25% $100.01-$500, 15% $500.01-$1000.00, etc. It seems like he would lose a ton on what is sold.

My dad is permanently disabled. I would like to get as much money from the sale as possible. Looking for advice.
P.s. I have pictures of everything if that helps.

I would suggest that you talk to the instructors in a local trade school. A graduate will need lots of expensive tools that will put a burden on his finances. An instructor will be able to help you pick out the best person. Maybe you might be able to connect with a female grad.
If you can afford it, a gift of tools will never be forgotten.

 

[BDT/NWMN]

eBay is often mentioned in these posts, but bear in mind, it is not a free service. Plus, the seller has to identify, sort, and "correctly " list the item with plenty of photos, then handle the shipping. The Auctioneer's offer may be your best choice, when all this is considered.

 

[Johnny Generic]

I would suggest that you talk to the instructors in a local trade school. A graduate will need lots of expensive tools that will put a burden on his finances. An instructor will be able to help you pick out the best person. Maybe you might be able to connect with a female grad.
If you can afford it, a gift of tools will never be forgotten.

This.

 

[Steve_P]

...... I don't like the 40% margin on the auction house. That's nuts.

That's on the first $100. Would you spend hours of work for $40? Their 15% on $500-1000 seems very fair. Then I assume it goes down after that. So, if you sold $5k in tools, maybe you'd give up $700 to the house? Ebay would charge you ~10%, or $500 assuming the same selling price, and you'd do all the work. Figure that by the time she figures out what she has, photographs, creates the listing, answer moronic questions, pack the item..... it's going to be about an hour of time invested- per auction; 30 minutes for sure.

I'm not a fan of auction houses, and most likely won't bring the max profit, but how much time are you willing to invest to try and make more $?

The bottom line is that decades old tools used in a professional environment are well-used and beaten up, by nature. They will overall bring pennies on the dollar. I know that *****, but it's the reality. If it was a bunch of 3 year old metric Snap On tools then that's going to have value.