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Need help determining value of machines and tools

Bettaguy

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Greetings all. I am helping a recent widow part with tools and equipment from her late husbands shop. It is like traveling back in time. I have no idea fair value of older items. Is this forum an appropriate place to ask for help with this? I would provide make and model and photo's. Thanks in advance for your help and time.
 
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bad_idea

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There is a definite wealth of knowledge on this forum. They have helped me ID plenty of older tools. Fair chance you can find some buyers on this forum too. There is a sub forum down a few specific to discussing tools, I suggest you start a thread there.
 
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Bettaguy

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There is a definite wealth of knowledge on this forum. They have helped me ID plenty of older tools. Fair chance you can find some buyers on this forum too. There is a sub forum down a few specific to discussing tools, I suggest you start a thread there.
Thanks for some direction. Your user name is deceiving, lol :)
 

RoninB4

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Help evaluating machinery should include model/make, photos showing condition of critical components (sliding surfaces, precision machined surfaces, etc.), and location. Location can make a big difference in value.
 

Bondo

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Greetings all. I am helping a recent widow part with tools and equipment from her late husbands shop. It is like traveling back in time. I have no idea fair value of older items. Is this forum an appropriate place to ask for help with this? I would provide make and model and photo's. Thanks in advance for your help and time.
Ayuh,..... Tell her to hire an auctioneer to liquidate the stuff,......

Auctions bring the true value of things,....
 

finn

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There’s also a significant difference in wholesale and retail value.

If you’re looking for full retail value, you have to consider the cost and labor of cataloging, storing, cleaning, and advertising the collection. It could conceivably take hundreds of man hours and a number of years to do that work. That’s why bulk sales and auctions should be considered. Be wary of cherry pickers after only the items easiest to turn over for a profit. You may get top dollar for a few prime pieces, bit could be stuck with a lot of low value items that will eventually end up in the dumpster.

As you can tell, in situations like this, I am in favor of rapid and total liquidation, and then getting on with life. That’s how we did it with my parents and in laws estates. Meanwhile, my daughter in law couldn’t deal with her parents estates like that, and still has three storage units crammed with things she will never use four years after they passed.
 

laser3kw

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There’s also a significant difference in wholesale and retail value.
there is also a difference between here and there. I might value an item for a price that it would sell for around here and in the OP'S area it wouldn't bring near the money.
 

bb29510

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value is what you can get somebody to buy them for, worth zero on estate sale, you will never get any where close to their real worth.
 

Zeke

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I have done this. FOA, eBay is the modern what's it worth standard. Major items will always be found in all sorts of conditions. Some USA made tools will have value while imports, especially in the last 20 years, are scrap value.

There are 2 types of buyers, flippers and bottom fishers, and people who know what they can pay when the can use what you have. No connection to a buyer, no sale. so the larger the exposure, the better.

I've been selling stuff on CL. It takes time for a buyer to swim by and take a sniff. I've sold things in a day and things in months.
 

FredWanaker

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There is a question - what is a glass of water worth to a thirsty person in the desert compared to its value at home. As someone else suggested, if you have lots of large items hire an auction house or an appraiser in that industry to consider the items and local markets. Willing seller and willing buyer is what sets price. Frankly, the US is floating in a sea of equipment that the current generation has no desire for. 5 to 10 cents on the dollar is not uncommon these days on old equipment, even if maintained.
 

Garcky

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The only possible answer, with the information at hand, is: It depends. It depends on many, many things. Too many to list, really. What tools? How old? What brands? How old? What condition? What is the demand where you are? How will they be sold?

If there is going to be an estate sale, run by an estate sale specialist, just leave all that to them. If it's a professional machine shop full of machine tools, then get an auctioneer out there. If it's an average DIY shop, with tools over 20 years old, their value is anyone's guess. Have a "Man Sale," and advertise it on Craig's List and Facebook Marketplace, with several photos. Put prices on the individual items, based on whatever basis you have. Then take any reasonable offer that is made. You get one day to sell the stuff, then it's still there if it doesn't sell.

Or take photos of everything, in groups and advertise on Craig's List and Facebook Marketplace. Ask for the best offer for the entire lot. Set up an inspection time window. One day or two, with a two hour window to look at the tools. Get written offers. Give it a week, then sell it to the best offer. They haul away within 48 hours.

It's a lot of work. Is that something you want to handle? Very often, estates are most interested in closing it all up and dealing with it.

Many years ago, I was good friends with a guy who was a mineral collector. I visited him numerous times and even sold some of his stuff for him on my website. He died. His relatives, who had no interest whatsoever in his very large collection. Most of it was low end specimens, with a few good pieces sprinkled in here and there. His son, the executor, got in touch with me. He said that his Dad had told him to contact me about his collection. The son asked if I would be interested in buying everything. He said, "We have to clear this all out, so we can put his house on the market. I was interested, but didn't have a ton of money, and there was a whole bunch of stuff in boxes that was mostly rockhound stuff. There were also cabinets and drawers, etc. Whoever bought it would get a lot of stuff, and have a lot of work.

So, I did some calculations in my head. I told him that the most I could offer was $2500, and explained the issues, which involved time to get all that stuff, including the storage furniture, etc. His son said, "That much?" So the deal was done. I spent the next two days with a rented uHaul truck moving everything out and into a storage unit I had rented to hold it all. I hired a kid to help me move it, and paid him twice the going rate because it was hard work in very short time frame.

Anyhow, over the next year, I sold most of the good and moderately good specimens on my website. I sold the rough rockhound stuff to one guy for not so much, since he'd have to haul the two or three tons of it. The storage and display furniture went into my office suite and got used to help manage the stock for my online mineral specimen business. In the end, I probably had $12,000 in gross sales from that collection. It was a decent investment of the $2500. The heirs got the stuff cleared out and got some money, which was all they wanted. That's how estate clearances work.

See, it all depends.
 
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Bettaguy

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There’s also a significant difference in wholesale and retail value.

If you’re looking for full retail value, you have to consider the cost and labor of cataloging, storing, cleaning, and advertising the collection. It could conceivably take hundreds of man hours and a number of years to do that work. That’s why bulk sales and auctions should be considered. Be wary of cherry pickers after only the items easiest to turn over for a profit. You may get top dollar for a few prime pieces, bit could be stuck with a lot of low value items that will eventually end up in the dumpster.

As you can tell, in situations like this, I am in favor of rapid and total liquidation, and then getting on with life. That’s how we did it with my parents and in laws estates. Meanwhile, my daughter in law couldn’t deal with her parents estates like that, and still has three storage units crammed with things she will never use four years after they passed.
Sound advice. I am looking to liquidate for some type of reasonable return. Problem is, I don't know values let alone if someone could actually use what we have. When you say bulk sales, do you mean advertise ourselves and let someone take all or go through an estate broker/auction house?
 

jack stand

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I'll 2nd an auction house, or at least talk to one. The bigger ones will haul it off to their location and possibly have or wait for similar items to maximize the crowd. They'll be advertising it for weeks ahead of the sale. This will push the prices and increase the auction "fever" that loosens the bidders wallet.
Just watch their terms and see if you can wiggle an estimate from them. If they're good, they'll know what to expect.
 

DocsMachine

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The common outcome for this sort of thing is the family checks Google or eBay for the same model machine, spots one that was in top shape and sold for a high price, and then thinks the one Gramps had, which is badly worn, has broken parts and is missing accessories, is worth the same amount. They list it as such, get no takers, and when it get down to the last few days before the house has to be emptied, wind up calling a scrapper to come and get it.

I've seen that exact scenario in half a dozen boards like this, and at least twice in person.

When you're talking about a machine tool, as Gark notes, everything matters. Brand, condition, location, tooling, wear, accessories, you name it.

One other pitfall is that bigger machines are NOT more valuable. A huge lathe or mill, regardless of condition, is generally worth a small fraction of a smaller one- because the smaller ones are handier for the home-shop or small-shop guys. A 10" Southbend of Logan is far easier to move and fit into a small garage.

An 18" Pacemaker is a considerably better lathe, but it also weighs three tons, needs heavy 3-phase for power, and would cost a couple thousand just to have moved.

The seller, who doesn't know these things, sees that the 10" Sheldon is valued at $4,000 with tooling, but the 18" Pacemaker, which is ten times the machine, is valued at $1,000. So they think you're undervaluing so you can get it cheap and "scam" them.

To paraphrase the old Latin, helper beware. :)

Doc.
 
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Bettaguy

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So far I have a radial saw, band saw, wood workers lathe, air compressor, disc sander, table saw, and a drill press. Tons of hand tools. This stuff is very old. I have pictures to give an idea but don't want to flood the forum with things of no interest. Opinions?
 

jimindm

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Most of what you listed above sells for less than $100 each, at the weekly auction I go to.

As others have mentioned you can go down the road of doing it yourself, but it is a lot of work. Even a garage sale only get rid of the better stuff, and leaves you to deal with what is left.

An auction company should have a pretty good idea of values and what a total sale could net you. The biggest thing about going the auction route is, it is all gone and you get a check at the end.

Be very careful about culling out the good stuff to sell on your own. Auctioneers and estate buyers are in business to make money. Every day they buy or sell at auction twenty items that have no value, to get the twenty or so items that have value.

Personally know estate buyers and auction owners, it has to be worth their time to deal with it.

A lot of truth to what you have and who your market is. My mom passed with a store full of custom fitted bras and intimate apparel. My brother called a few thrift shops and no one would take it. A few women's shelters would take the basic unintimate stuff. I got hold of a business selling the same product lines my mom had, 300 miles away. She was here the next weekend making an offer on the thing. We negotiated for a few days and she came with a $30k the next weekend and loaded it up.
 

zendriver

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I'd call an auctioneer.

If, they turn up their nose, then it's a garage sale with "no reasonable offer refused"

A radial arm saw almost cannot be given away around here.

Good luck.
 

nadogail

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Sadly, the cash value of anything is what a willing buyer will pay for it.

I have given up on "Garage Sales" my experience has been that i received offers so low that I was further ahead donating my stuff to a charity and taking a tax deduction.
 
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mogandave

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It absolutely depends on the quality, condition and brand of the equipment. If pops bought high quality, name brand stuff new, did not use the heck out of it and maintained it properly, it could have a lot of value.

If he bought a bunch of cheap cr*p from yard sales and wore it out, it's almost worthless.

I wish I could buy a decent radial arm saw where I am for not stupid money.
 

BombShelter

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Different auctions will have very different results. There's the online kind that sells everything, you won't get top dollar on those, guys like me swoop in on the bargains. The other online sales is geared more towards industrial/factory tools, these shoppers tend to know what they're buying. Locally here, the industrial guys will let you sell your good stuff during their once a month a-la-carte sale, it might also include a small lot from a shop for around 400-500 items. The seller might have you bring your equipment to their warehouse and he might reject some of it, they tend to know the products and what you should expect.

Good Luck, maybe some of the big stuff you could put on here for sale and see if there's any bites.
 

DocsMachine

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A year or so ago, a local-to-me CL ad listed a Hardinge HLV-H lathe, and Hardinge horizontal mill.

Both, when in good shape, can bring a fair price. But this guy was asking $40,000 for both.

And the pictures showed very basic, unrestored and well-used machines, that had minimal, if any, tooling, and hadn't even been cleaned. The mill still had something bolted to the table.

I'm positive that the seller looked on eBay, found a pristine, late-model, well-tooled HLV-H, selling in the $32-$35K range (which, to be fair, they do go for- in top shape) and a similar well-kept or even restored horizontal, for about $5K (which they can also fetch, on occasion.)

His, given the condition, weren't worth half that. The lathe would have been fairly priced at 8K, and the mill for maybe $1500 to possibly as much as $2K.

And I'd bet money that if you offered that to him- a quarter of what he was asking- he's have thought you were trying to full a fast one on him, and kicked you to the curb.

Doc.
 
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FredWanaker

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So far I have a radial saw, band saw, wood workers lathe, air compressor, disc sander, table saw, and a drill press. Tons of hand tools. This stuff is very old. I have pictures to give an idea but don't want to flood the forum with things of no interest. Opinions?

go here, put in each search and see if there are any like yours. Now you know the floor. It will also show when posted so if someone has something for $500 and has been sitting for two weeks, the price is probably too high.


 

laser3kw

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I've sold things in a day and things in months.
around here, that would be fast. I had a Honda HS520 snowblower, looked like new, one pull it starts, new spiral paddles, for sale for 4years! Bumped every month, was not over priced ($350), never an inquiry. Finally got it sold for $300. Honda name should of sold it in a month
 

banjopete

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around here, that would be fast. I had a Honda HS520 snowblower, looked like new, one pull it starts, new spiral paddles, for sale for 4years! Bumped every month, was not over priced ($350), never an inquiry. Finally got it sold for $300. Honda name should of sold it in a month

If something takes 4 years to sell, you're waaaaaay off on your pricing. If you get no inquiries, you're not even close. If no one shows up or talks about buying you're even farther away from reality.

I'm a frequent buy and sell buyer and seller and I see this a lot. Not saying this is you but I see ads that are asking nearly all of the store price, and the vibe of the ad is "I know what I have". A quick search around the larger areas B&S, or ebay quickly shows they're close to 2x the real price things sell at. I assume the folks selling are ugh very experienced in life, and have no idea that it's a global marketplace and that you need to offer a tantalizing price these days to get people to physically come to you and buy things. 50-60% of store price is a get it sold price, and adjust from there for interest.
 

HoosierBuddy

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Had this discussion with a coworker at work last week.

As a ballpark "starter" number. I feel like any tool in good usable condition asking price is 80% of new. Selling price is somewhat lower.
 

WisJim

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You say "old" tools, but how old? 1970s, 1920s, 1850s? The age, condition and brand are all significant.
 

stingry

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Yes, she could sell on eBay or CL but it’s generally a PITA and will be restricted to the local marketplace unless she is willing to ship. IMHO the best way to sell is to have a well advertised on site auction using a known and reliable auction service. Here in Western Nebraska the commission would be 15-25% depending on the amount and quality of the goods. They will know the best way to present and group the tools for sale and it will be over in a day and she will have a check a few days later. There is no better way to set the value of an item than to have two buyers bid on it. Also, most auction services have internet bidding which reaches more potential buyers.
 
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Bettaguy

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So far I have a radial saw, band saw, wood workers lathe, air compressor, disc sander, table saw, and a drill press. Tons of hand tools. This stuff is very old. I have pictures to give an idea but don't want to flood the forum with things of no interest. Opinions?

go here, put in each search and see if there are any like yours. Now you know the floor. It will also show when posted so if someone has something for $500 and has been sitting for two weeks, the price is probably too high.


Excellent, excellent suggestion. I knew how to do this but lost sight of it thinking I had something uncommon in the marketplace. Dare I say I had the potential to be a "fool" if not for the feedback I've been receiving here. For curiosities sake I'll post here how the liquidation went.
 

laser3kw

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f something takes 4 years to sell, you're waaaaaay off on your pricing.
not around here. small engine equipment never has sold well. Most people rather buy new Big Box store junk and replace it every couple years. Hard to make a living in lawn equipment. The shops I know well, struggle to keep work. When it does come in the door it is a hot mess, not worth fixing. So the cycle continues.
The same Honda snow blower brand new is pushing $850. This was the proverbial "cream puff" used half a dozen times, owner didn't want because it wouldn't start. Got it home, spritz with ether, fired right up. Every year, drug it out, choke, pull, start.
I have a great deal of patience, they will sell when they sell. I would rather have decent money than go upside down on it. I also have donated a few to churches to help out those who need.
 

banjopete

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not around here. small engine equipment never has sold well. Most people rather buy new Big Box store junk and replace it every couple years. Hard to make a living in lawn equipment. The shops I know well, struggle to keep work. When it does come in the door it is a hot mess, not worth fixing. So the cycle continues.
The same Honda snow blower brand new is pushing $850. This was the proverbial "cream puff" used half a dozen times, owner didn't want because it wouldn't start. Got it home, spritz with ether, fired right up. Every year, drug it out, choke, pull, start.
I have a great deal of patience, they will sell when they sell. I would rather have decent money than go upside down on it. I also have donated a few to churches to help out those who need.

It's a shame that folks don't value the older and quality equipment vs something brand new, it's really strange, and just a psychology experiment playing out all over. It's just kind of the way it's all gone with everything though. New build homes, new cars, new tools. False security in the "nothing can go wrong it's brand new" vs "if anything was wrong with it, it'd be in a landfill already".

Glad you were able to make it work for yourself. Sounds like a great place to scoop up quality old equipment and tools at steep discounts though.
 

banjopete

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Excellent, excellent suggestion. I knew how to do this but lost sight of it thinking I had something uncommon in the marketplace. Dare I say I had the potential to be a "fool" if not for the feedback I've been receiving here. For curiosities sake I'll post here how the liquidation went.
Keep in mind if you're chasing top dollar for the lot or trying to get it moved. How much price difference from the dream total price are you willing to take or happy with to get it all sold and gone quickly. Folks love a deal, and being willing to move and be reasonable will get stuff gone quickly.
 

finn

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Had this discussion with a coworker at work last week.

As a ballpark "starter" number. I feel like any tool in good usable condition asking price is 80% of new. Selling price is somewhat lower.
No way am I even going to look at anything used that’s listed for 80% of the new price.

Maybe 40% or 50% to start, and we’ll barter down from there.

At 80%, I’ll just order a brand new one online, get an unused product or tool, and a manufacturer’s warranty.

Plus, it will be delivered to my door.
 

Zeke

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Yeah, rule of thumb is half of new unless you are talking about a near new expensive piece. I don't expect to buy a low hour engine driven welder for half. That wouldn't last an hour and I'd definitely want not only a BOS but the original invoice or BOS from the seller as to where he got it.
 

HoosierBuddy

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No way am I even going to look at anything used that’s listed for 80% of the new price.

Maybe 40% or 50% to start, and we’ll barter down from there.

At 80%, I’ll just order a brand new one online, get an unused product or tool, and a manufacturer’s warranty.

Plus, it will be delivered to my door.

I used to be at that same 50% level. But what I'm seeing now is people asking 80% to 110% of new cost for old on FB Marketplace and eBay. This change has occurred since 2019. Obviously pandemic related, but not seeing it cool down yet.
 

NORTON'S SHOP

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Go to a Habitat For Humanity Restore store sometime. The one near me is almost comical. Contractors will bring their worn out sh*t there and donate it for a tax write off and the Restore store will ask ninety percent of new price. Quite a racket for contractors.
 

NDJ

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The common outcome for this sort of thing is the family checks Google or eBay for the same model machine, spots one that was in top shape and sold for a high price, and then thinks the one Gramps had, which is badly worn, has broken parts and is missing accessories, is worth the same amount. They list it as such, get no takers, and when it get down to the last few days before the house has to be emptied, wind up calling a scrapper to come and get it.
This. Also, Usually some local "friend/expert" comes by and states a bunch of high values for this and that etc, Then the family has that stuck in their head and is very reluctant to sell for 1/2 to 1/4 of that. I am also going thru this right now.
 

ecotec

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No way am I even going to look at anything used that’s listed for 80% of the new price.

Maybe 40% or 50% to start, and we’ll barter down from there.

At 80%, I’ll just order a brand new one online, get an unused product or tool, and a manufacturer’s warranty.

Plus, it will be delivered to my door.
I am a bottom feeder’s bottom feeder. I try to find tools for 5% of msrp.

If it is vintage, I like to get it below the price in the catalog it was in… so I got a deal on it…
 
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