dnschmidt
Well-known member
Stop this nonsense. I'm an SNA shareholder. Jack them up even more. Love that dividend! If your dumb enough to pay SNA prices I’m capitalistic enough to steal your money.
Never sell your tools
- Thread starter Shoreline_
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nbpt100
Well-known member
Not nessisarily for the Surgeon but for sure the VP of Engineering. There are always exceptions. Keep in mind the average student loan is about 30k. For an Engineer to still owe 250k after being out of college for a few years is probably rare..
nbpt100
Well-known member
Zacks agrees with you too!
This is Why Snap-On (SNA) is a Great Dividend Stock
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Snap-On (SNA) have what it takes? Let's find out.
If I'm remembering right the average change in price on most Snap On stuff from 2012-2022 is +30%. Doesn't seem like much but that's $30 extra every $100 and it adds up.
As for selling tools, I'll sell off stuff when it's not needed. Sold 40 Snap On 3/8 and 1/2 drive sockets that were partial sets and singles and 5 or 6 wrenches for a $1 a piece last month because they were taking up space and nobody wanted them all together or separately. Sold 2 Snap On F80s(2020,2021 date codes) for $60 a piece because I ended up with a half dozen after a few got misplaced by coworkers and showed back up a few months later.
End of the day you only have so much room and you can't just keep piling up stuff forever. It's a bit of a pain selling stuff off cheap and buying stuff expensive but that's how it works.
As for selling tools, I'll sell off stuff when it's not needed. Sold 40 Snap On 3/8 and 1/2 drive sockets that were partial sets and singles and 5 or 6 wrenches for a $1 a piece last month because they were taking up space and nobody wanted them all together or separately. Sold 2 Snap On F80s(2020,2021 date codes) for $60 a piece because I ended up with a half dozen after a few got misplaced by coworkers and showed back up a few months later.
End of the day you only have so much room and you can't just keep piling up stuff forever. It's a bit of a pain selling stuff off cheap and buying stuff expensive but that's how it works.
finn
Well-known member
Not necessarily true. They could, and probably do, have a couple million in investments at the same time.
Lots of education envy out there.
Dakotadadv8
Well-known member
- Joined
- May 30, 2021
- Messages
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We enjoy sharing hoping you spend on vehicles or other maintenance where the tech buys and uses SO tools. Keep the money flowing.
Retroman
Well-known member
Good for him that's how it's supposed to work.
Steve W.
Well-known member
Some time ago, someone here had a signature that said:
“When I die, I hope my wife sells my tools for what they are worth, not what I told her I paid for them.”
Many, MANY years ago (mid- to late 70s), I worked for a small trucking company. Our boss encouraged each of us drivers to carry at least a small box of basic tools, so we could at least get back on the road to the next place that could do a proper repair. One year (probably '75 or '76) he struck a deal with the Snap-On guy and got 10 sets of the SAE equivalent of what was shown in the first post. If I remember correctly, he gave about $90 for each set. The SO guy goofed on one set. It was metric, not SAE. The boss was going to have it switched out, but I said "wait, I have a Toyota and a Kawasaki, I can use the metric". I still have that set, and have filled it out at both ends with 6mm-9mm, 18mm and 19mm.
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slowtwitch73
Well-known member
When you're dead, you wont care.
100%. Money 101: if they are making more on investment than the interest on the debt, don’t pay off the debt.
Dunno about the US, but in the uk student loans are (were) some of the cheapest money you could ever borrow.
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Some years back, at the Detroit Autorama, one of the local tech schools had a display. I talked with a recent graduate, who was leaning on his shiny, new MAC Tools Macsimizer tool chest. Thru the course of the conversation, he revealed he was already in hock to MAC for $70,000. Hadn't earned a tech paycheck yet, didn't know whether or not he'd like the trade, but was already behind a 70 large eight ball. When I heard the news this week about loan forgiveness, I wondered if this kid would be in line.
finn
Well-known member
He could probably sell the tools for 40% or 50% on the dollar.
It’s not uncommon for young kids with dreams of glory to go into debt on shiny tools, only to shortly become disillusioned with the trade and drift (or gravitate) to some other line of work.
Same can be said of others, though. I personally know of one brilliant young engineer that decided his future was in another, non engineering field. He went back to school and got his MBA and ended up landing a lucrative job as an investment banker.
The difference is that his new degree was paid on the company’s dime.
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visionguru
Well-known member
Hasn't the price of everything gone up since 2000? One of my Rolexes was acquired for less than $3,000 in 2007 or 2008, 15 years later, some places are selling it for $12,000.
OP
Shoreline_
Well-known member
Which is why I'm saying don't get rid of your tools if you don't think you'll need them again. Because you never know and the cost to reaquire is much more now relative to income of a tech.
PugetDude
ALLIANCE MEMBER
finn
Well-known member
The pint is that sometimes it makes sense to sell one’s tools, particularly if there’s a career path reassessment and change invoked and one has a significant investment in tools of a trade they’re leaving.
That applies to almost any trade I can think of. Would a Dentist hang on to several hundred thousand dollars of equipment if he switches careers to become Real Estate professional.
It even goes into businesses getting rid of assets that no longer fit their strategic plans. You sell what you don’t need.
The other thing that’s uncalled for is the inference that anyone that chooses to advance their education is destined to be a Starbucks Barista. That’s just myopic.
OP
Shoreline_
Well-known member
But what if they decided to get back into dentistry.
speed bump
Well-known member
Sell tools as needed or it makes sense. I've got a lot of tools that I have sold, rarely regretted it. I always figure what does more garage space cost, when was the last time I used it, and can I acquire a replacement easily. If it takes up space, I haven't used it in a year or two, and the replacement isn't terrible to acquire it can be sold, worst case is I pay more than I want to for it's replacement.
But on the other hand, it may be smart to sell the tools for 35-50% of new and invest the money back into something that makes you money. Leaving stuff in a box isn’t always a good financial decision.
isb cornbinder
Well-known member
A mechanic, where I worked, is getting nearly $50/hour plus a very good health and retirement package. I have to say this, "If the tool truck does not work for you or your budget, move on. Don't spoil another person's day."
I have a variety of manufacturers tool in my toolbox. I have to say this, the higher end tools last longer and are better. I never regretted buying expensive tools that worked well. I have suffered long and many regrets over wasting money on cheap tools that failed.
Never admit to being the VP of Engineering to a mechanic.
That's not true. 10mm sockets are haunted.
finn
Well-known member
You say that like it's a bad thing.
finn
Well-known member
Actually, I know a few baristas. Most rather enjoy their job.
More yet are using it to pay for their tuition while working on advanced degrees.
That’s the route my daughter in law went. She’s a CPA now.
AffableCurmudgeon
Well-known member
Agreed, a 1000%. A lot of things I read in this forum are about tool collections and how everything has to be a just the certain way or the rituals that a lot of people have when they do anything. Once you are dead, all of this **** will be thrown away.
100 more years, all new people.
BarrelRoll
Well-known member
Nope, it's pretty hard under the current tax code. My employer gives us $1,500 a year tool allowance which helps.
I work in the mining industry, we just hired on our 19 year old intern at $28 + bonus and built in OT though we only work 168 hours a month, he'll push $100k a year. He can afford a couple snapon tools and doesn't carry a balance on the truck. 3 of us on the crew have either just bought or have Snapon boxes on order. Luckily the kid is smart enough to take the free garbage hand me down box from one of the guys who bought a snapon instead of paying his life away to the snapon man. I buy tools off the truck, usually when it's on special or it's something I have from a different brand and have broken once. It's usually cheaper to buy it once from him than twice elsewhere. When I break something from the truck warranty is super easy vs. having to deal with trying to get other things warrantied. On my days off I have to deal with sending back an air drill to amazon because a different brand was in a CP box, that issue wouldn't happen on the truck.
Good or bad most tool trucks will let you have a truck account at 0% interest. In a perfect world you would pay cash for everything though it's not reality for most. When you factor in someone buying a cheaper tool on a credit card at 21% interest vs buying a higher end tool at 0% the actual price of the tools will be a lot closer once you factor in interest. I carry a balance on the tool truck because there's no reason not to. Boxes on the other hand usually aren't a truck account and are financed through snapon at 4-25% interest.
isb cornbinder
Well-known member
I was doing a very special job in my home shop and I needed a special tool. I called the SnapOn guy and he delivered to my home within an hour. How can I or anyone fault that? Did I pay too much? Not at all. Job done. The price might have bee a little much if I were a tool polisher and or collector.
Attachments
To the OP: For half that SO price you can get a set of Stahlwille Open Box 13 AND Open Box 14* from Amazon de which you will find a lot more useful, double the tools, half the price.
FFS with SO
*I got the 14s for 85eur shipped, sizes 8 to 22mm
FFS with SO
*I got the 14s for 85eur shipped, sizes 8 to 22mm
isb cornbinder
Well-known member
I like to buy Made in North America as often as I can. I do not think that thoughts and prayers will make our manufacturing great again. Someone has to buy something made here.
I am not in a position to start a business, but I can buy made here. This is like contributing in a small way to running a business. I hope it is not too late to recover. I would not like to have my choice removed because I failed to support the company that is making product in North America. If I must pay a little more for North American Made, I like to think of this as a small investment in my country.
I am not in a position to start a business, but I can buy made here. This is like contributing in a small way to running a business. I hope it is not too late to recover. I would not like to have my choice removed because I failed to support the company that is making product in North America. If I must pay a little more for North American Made, I like to think of this as a small investment in my country.
Professional Tool User
Well-known member
The problem is that US and Canadian made products tend to target the high end market because of competition from cheap imports unless capital intensive manufacturing can narrow the competitive gap. So you may have to pay a lot more. If the goods being produced aren't mass market and relatively affordable, you aren't really supporting that many jobs. In a lot of cases it makes absolutely no sense to buy made in Canada. For example, the bicycle tariffs resulted in lackluster bikes assembled in Canada with imported parts while Taiwanese bikes kept on improving and moved into the high end market. As a Canadian, I treat having the made in Canada label on the product as a bonus and nothing more than that if all else is equal.
CHI_Tool&Die
Well-known member
My shop will pay for any tool with the caveat that the need is justified and that upon purchase it becomes the shop tool so anyone on any shift at any time can use the tool. It works for things like a 6" outside micrometer but most of the guys buy the necessaries for themselves. Snap-On isn't the only dudes playing the increasing prices game. Proto is out of their damned mind and Wright (outside of ratchets) are getting really pricey too. Starrett is a freaking joke too. Everyone is buying imported tools and I'm not talking Chinese-made stuff. German/Euro/Japanese tools have maintained their price stability in a way that most US companies have not. I bought an entire Mitutoyo mic set for the price of one Starrett mic. That is insane! And Taiwan stuff is getting really, really good for hand tools. A warranty will only get you so far in today's economy. I don't know how you auto techs do it.
That being said, I typically donate tools that I do not have a need for anymore. I've donated to the local community college or the guys at the shop starting out or building a toolset. I don't mind selling stuff, but I often find the hassle is not worth my time.
That being said, I typically donate tools that I do not have a need for anymore. I've donated to the local community college or the guys at the shop starting out or building a toolset. I don't mind selling stuff, but I often find the hassle is not worth my time.
wantedabiggergarage
Member Emeritus
Well, can't you pick up a hammer and a rusty pair of pliers at just about any garage sale? Aren't there liquor stores pretty close to the barber/dentist shops?
That said, I would certainly disagree with the never argument.
A friend at the shop, introduced me to his friend, selling off some of his tools (got my first worm drive Skill saw), because of cancer. His wife had no idea what they were or weren't worth, and he used the money for both quality of life and memories he wanted to make with the grandkids, while trying to give deals to friends he knew would put things to good use and if his family needed help, help them.
Another friend had his truck and a bunch of tools stolen. Only vehicle ad in the paper, was an old timer with a low mileage, older truck at a fair price. Old timer only had calls from low ballers until my friend called and showed up. He didn't haggle as he thought it was fair and they struck up a conversation about why he was buying the truck. Old timer loaded him up with tools to replace his stolen ones, as he was going into assisted living.
I picked up a Tormek sharpener, from a guy who helped his dying friend sell off his shop, before he died, so his wife didn't have to deal with it. The dying one gave this woodworker his Tormek as a thank you. The woodworker preferred his set ways and I got it because I was local, with cash (he asked less then $200, with everything), and gave me all the contacts of the people who wanted to buy it for more because of shipping (and then probably flip again on Ebay).
I agree with the sentiment of the OP - I don't know how the beginner techs make it in todays world.
HVAC tool and testing equipment has gone ridiculous on their prices. Just a basic set of the specialty tools required would require a bank loan. Not to mention all the "usual" hand tools mechanics use. Plus all the new mandated electronic **** they're requiring mean lots more diagnostic equipment. I just don't see how they do it. Maybe that's one of the reasons why A/C companies are hurting for workers? Young people think they can make a lot of money doing it but then they see what the tooling will cost and they pass.
As for what I have, most of the tools and equipment I started with in 1987 I still have. Quality counts, and consistent maintenance pays. So when I pass the Mrs. could throw it all out - or donate all that stuff - and not miss a dime. I've gotten my money's worth out of all of it. The collectible stuff? I'll tell her to post it up here at the GJ - and you guys will hand her gobs of money!
HVAC tool and testing equipment has gone ridiculous on their prices. Just a basic set of the specialty tools required would require a bank loan. Not to mention all the "usual" hand tools mechanics use. Plus all the new mandated electronic **** they're requiring mean lots more diagnostic equipment. I just don't see how they do it. Maybe that's one of the reasons why A/C companies are hurting for workers? Young people think they can make a lot of money doing it but then they see what the tooling will cost and they pass.
As for what I have, most of the tools and equipment I started with in 1987 I still have. Quality counts, and consistent maintenance pays. So when I pass the Mrs. could throw it all out - or donate all that stuff - and not miss a dime. I've gotten my money's worth out of all of it. The collectible stuff? I'll tell her to post it up here at the GJ - and you guys will hand her gobs of money!
The only tools I have sold over the years I can remember are something obscure that I got as a gift and deemed that I would never use.
And….
Air tools. I kept a supply of new air tools when I was working and sold them when I changed careers as I thought they would Rot sitting unused for a long period of time. Plus I knew technology would improve and they would be relics. I do miss my Mac die grinder. That little guy was bad ***.
I am not sure most hand tools will become relics as technology has little bearing on them becoming obsolete.
And….
Air tools. I kept a supply of new air tools when I was working and sold them when I changed careers as I thought they would Rot sitting unused for a long period of time. Plus I knew technology would improve and they would be relics. I do miss my Mac die grinder. That little guy was bad ***.
I am not sure most hand tools will become relics as technology has little bearing on them becoming obsolete.
Mikeske
Well-known member
IN 1983 I was separating from the Air Force and had lined up a job 6 months before I was to get out. It was a heavy line mechanic at a dealership. I took competitive bids from the 4 major truck brands. Cornwell never even gave me a bid so I dropped them like a hot potato. Snap-on was even then the most expensive for the basic tool set of metric and SAE at $5,400 without a toolbox, next up was Matco and they were right at $4,500. Then Mac came in at around $3,900. I finally went to Grainger and they had a complete set of Bonney for $3,500 and threw in a Waterloo lower and upper box branded as Bonney.
So with a google search I found on a inflation calculator my Cost today for the Bonney set I got was $10,411. Now I had saved for the entire time I was in the Air Force and had right at 10K when I was discharged in 1984.
BTW the Bonney set is still with me today 5 years after I retired but in my home shop and it still used almost everyday. After a couple years as a heavy line mechanic using my GI Bill I got my Airframe and Powerplant certificate and went to work at Boeing in 1987 and retired out in 2017.
The only missing from my Bonney set is the toolbox after 30 plus years of abuse I retired the box to a neighbor kid and got a some Harbor Freight US General toolboxes.
ON thing that annoyed the heck out of me was dealership provided speciality tools either broken or missing. I went more then once to get the engine bar to hold the engine up when I was doing a transmission removal and it be missing. I finally just made a couple of them after getting the measurements and welding up ones only I would use. I have them chained to side of my toolbox with a padlock.
So with a google search I found on a inflation calculator my Cost today for the Bonney set I got was $10,411. Now I had saved for the entire time I was in the Air Force and had right at 10K when I was discharged in 1984.
BTW the Bonney set is still with me today 5 years after I retired but in my home shop and it still used almost everyday. After a couple years as a heavy line mechanic using my GI Bill I got my Airframe and Powerplant certificate and went to work at Boeing in 1987 and retired out in 2017.
The only missing from my Bonney set is the toolbox after 30 plus years of abuse I retired the box to a neighbor kid and got a some Harbor Freight US General toolboxes.
ON thing that annoyed the heck out of me was dealership provided speciality tools either broken or missing. I went more then once to get the engine bar to hold the engine up when I was doing a transmission removal and it be missing. I finally just made a couple of them after getting the measurements and welding up ones only I would use. I have them chained to side of my toolbox with a padlock.
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I hate to say it, but anyone who’s been on the MAC truck lately can attest to the dive in quality. It’s like they’re purposely going out of their way to race to the bottom.
For the professional who buys from the tool truck… I bet SnapOn knows this and it’s a part of the reason why they price gouge. Their direct competition doesn’t give them much competition anymore.
For the professional who buys from the tool truck… I bet SnapOn knows this and it’s a part of the reason why they price gouge. Their direct competition doesn’t give them much competition anymore.
richfinn
Well-known member
I'm all for supporting local businesses and blue collar workers, it is 100% the correct thing to do. I don't even mind paying a little extra for all the hoops they have to jump through to manufacturer good stuff in the first world.
But when they artificially jack up the prices to exploit me and pay wealthy shareholders a larger cut, I'm pretty much done.
If Stahlwille can make high quality spanners in Germany for 40% the cost of Snap-On, or Ko-ken can do the same with Sockets in Japan, that's where my money is going.
CHI_Tool&Die
Well-known member
To be fair, that would imply Mac, Cornwell, and Matco actually had trucks that swung by.
That’s probably another reason our Snap-On dude gets away with it…zero competition from the other big names. Exactly. MiUSA and wrapping one’s self with the flag should not lead to unquestionable loyalty to these companies. How is it that US companies have to constantly raise their prices while their overseas competitors have been able to maintain their pricing? It’s not making sense. Europe has terrible supply chain and inflation issues too. As does Japan and Taiwan. So what gives? Us blue collar guys have to be smarter with our finances. It’s the only way to bring about change.