Pricing Used Tools

[Shocker]

So I hope this topic is OK, but I need some advice. I have spent the last hour searching but nothing quite like it.

I have been collecting up a ton of tools this last year. Just about every era and brand. I have quite a bit of Snap On stuff all of a sudden.

How do you guys who move out tools do your pricing? Do you check eBay and other similar sets/items on Craigslist etc? Just have the massive knowledge of the market?

The only thing I have sold in the last 2 years are rolling tool boxes. Otherwise I just hold on to stuff.

I guess I need to get them all sorted out and check the wanted section as I do have a ton of 50's and 60's USA tools....

Any advice would be appreciated!

Sample idea of what I got going on.

 

[four.cycle]

I'm just pulling numbers out of the sky. Sometimes it works.

 

[neophyte]

Even pawn shops check eBay nowadays for pricing. (Usually the auction sale prices, or purchased Buy it Now items)
eBay can of course fluctuate, with the occasional High bid or sale price, and stuff that just doesn’t get interest occasionally.

The better personal option, might be to figure out what you would pay to purchase a comparable set or item, if you suddenly found yourself wanting or needing that item again, and then compare that to the above eBay pricing.

 

[four.cycle]

no, really.... I just make **** up.

I posted some stuff earlier.

it didn't sell within 10 minutes.

I dropped the price ten bucks.

if it's not sold within 24 hours, I'll raise it back up and repeat the cycle.

wash, rinse, repeat.

 

[seber]

If I don't already know, I check Ebay sold prices and lower by 25% to start. If it doesn't sell, I may or may not lower the price. Baldor grinders for instance never go down. Big in the way equipment goes down until it sells and get it out of the way.

 

[Shocker]

Hehe, well, I guess I will just start at eBay and go from there. I don't plan on keeping the Snap On stuff. I am not a pro and I have a ton of Cornwell that I primarily use along with a ton of various other brands.

Time to start clearing out the extras.

 

[Davefr]

Just check Ebay sold listings to get a feel for what you can expect. If you want quick sales then price competitively and provide high quality images. Ebay will likely get you the highest prices with the least hassle. (especially with Snap On sets). CL/Marketplace will likely get you lower prices with a lot more hassle.

 

[Shocker]

Yeah, but I don't want to mess with eBay and the $600 tax reporting etc. Waaaay more hassle with that IMHO.

I have had pretty good luck with CL. A few flakes, but most folks show up and buy stuff.

 

[Steve_P]

Yeah, but I don't want to mess with eBay and the $600 tax reporting etc. Waaaay more hassle with that IMHO.

I have had pretty good luck with CL. A few flakes, but most folks show up and buy stuff.

I think they postponed the $600 limit for another year.

 

[Dig Doug]

I would post some items for sale here on garage journal


The way to do it is post your for sale ad and ask if it’s to expensive or to cheap what do you think of this wrench set for $125 etc etc

 

[LNKMK8]

It really depends on where you are going to sell them at...

Selling on eBay will provide eBay results, Selling on FBMP locally will produce FBMP local results, and so on. If you are are going to list them on Craigslist then you will have to modify your prices if you are using eBay as a guide.

 

[cgrutt]

Probably do best with ebay as far as price goes but figure only netting 75-80% after fees etc. Anything Snap on is in pretty high demand. Good pics help for example the angle wrench set above looks pretty beat up worn/missing chrome etc. Not sure if thats actually the case but cleaning tools up and posting decent pics helps. Also tools with owner marks or other defects won't bring as much interest or command higher prices. And metric will likely sell faster and at higher prices than SAE. Off top of my head you'd probably get $100-$125 for the angle wrenches and $200-$250 for the combination wrenches but that's just my opinion and WAG lol. Good luck!

 

[Shocker]

I think they postponed the $600 limit for another year.

It is in force as of Jan 1st 2023. Bummer deal.

 

[Shocker]

Regarding the pics, they are straight out of the box I bought with them in it. Nothing has been done to clean up. No peeling chrome, but they need some polishing. Thanks for the ideas on pricing those exact items.!

Probably do best with ebay as far as price goes but figure only netting 75-80% after fees etc. Anything Snap on is in pretty high demand. Good pics help for example the angle wrench set above looks pretty beat up worn/missing chrome etc. Not sure if thats actually the case but cleaning tools up and posting decent pics helps. Also tools with owner marks or other defects won't bring as much interest or command higher prices. And metric will likely sell faster and at higher prices than SAE. Off top of my head you'd probably get $100-$125 for the angle wrenches and $200-$250 for the combination wrenches but that's just my opinion and WAG lol. Good luck!

 

[JRPAviator]

Just please don’t be the person on eBay trying to sell new or USED snap on stuff for more than on the Snap On website… it’s becoming a really annoying pattern. The whole point of used on eBay is a deal off new for a buyer and a seller reaching a much greater marketplace with a good chance of a very nice profit. Almost as bad as the Snap on gougers selling are the morons buying used snap on stuff for more than just buying it off their actual website new… it’s cray cray.

Edit: sorry I vented. To answer OPs question. Check the snap on website for new price, subtract 25-30% then check eBay complete sales like everyone else said. If you can gouge, gouge but man I hope no one here is that dumb to buy gouge items.

The Snap on website is already over priced and typically you can get stuff cheaper off the truck with cash.

 

[Bubba Fett]

Whatever you are selling, price it as low as possible.

 

[four.cycle]

@Shocker -

"... but figure only netting 75-80% after fees ..."

I just did the math this morning after selling the other Firestone set last night.
Ebay is skimming just under 14% right off the top (including on the shipping and sales tax, so it's a big hit for you and me because of the sales tax rates here - now about 10.9% here in T-town. (actually about 13.8%, but who's counting?)
Then PayPal nicks me for another (approx.) 3% (I need to crunch numbers on larger dollar numbers on that one.)
My ebay selling prices have both of those built in to the price - same as any sensible retailer would do. No reason to give away the store.
GarageJournal.com members in good standing are, of course, entitled to special promotional discounts on selected items. (Just ask.)

 

[Rickster]

As mentioned above, prices depend on where you're selling. A good starting point are eBay sold listing. Then you need break it down by where you intend to sell.

Ebay will get you top dollar, but you better know how to ship tools safely and cost effectively. Shipping will burn you every time if you don't know how to handle it. You will also need to become Ebay savy and know the rules.

FBMP, Craigs List, flea markets, garage sales; those customers are a mix of 70% re-sellers and 30% end users. Resellers expect you sell lower so they can resell and profit. Double edged sword, lower sale prices but they buy in bulk, pay cash and don't usually screw around on showing up. End users are looking for a deal.

Also what are you selling. Metric sells, SAE not so much. Older low tooth count ratchets, not so much. Complete sets of sockets/wrenches sell, missing a few pieces, not so much. Good luck!

 

[msharley]

So I hope this topic is OK, but I need some advice. I have spent the last hour searching but nothing quite like it.

I have been collecting up a ton of tools this last year. Just about every era and brand. I have quite a bit of Snap On stuff all of a sudden.

How do you guys who move out tools do your pricing? Do you check eBay and other similar sets/items on Craigslist etc? Just have the massive knowledge of the market?

The only thing I have sold in the last 2 years are rolling tool boxes. Otherwise I just hold on to stuff.

I guess I need to get them all sorted out and check the wanted section as I do have a ton of 50's and 60's USA tools....

Any advice would be appreciated!

Sample idea of what I got going on.

If you were to have a complete set of SAE DBE Snap on SIX POINT wrenches? Say from 7/16" to 7/8"? or even up to 1"?

Shoot me a PM! (they are the best for working on chrome plated fasteners without damaging the chrome)

Figure about $20 per wrench...a bit more for complete set in good shape...a bit less for ones that have initials engraved in them...

Sockets are about $10 or $15 per socket....until you get to specialty or really large (over 1-1/4"?)...

Hope this helps!

 

[Davefr]

It is in force as of Jan 1st 2023. Bummer deal.

No, 2023 is the old $20k/200 transaction threshold for 1099K's. In 2024 it drops to $5000.

Ebay fees are around 14% and Ebay manages the payment process. (not Paypal)

IME the selling prices on Ebay eclipse what you can get on CL/Marketplace with much less hassle.

IMHO it's silly to sell SO on any other venue. Easy to list, easy to ship, tons of demand and the best ROI you'll find. You can start listings at $.01 and you'll end up doing well.

 

[Shocker]

Man I tell ya, the IRS website says it still starts in 2023. Can't they update their own website?

I really don't like using eBay but I might put the most valuable stuff on there to see what happens.

 

[four.cycle]

^ from comments posted in this regard in other threads, it looks like we're off the hook until the end of 2024. sell NOW while the IRS is looking the other way.

 

[Davefr]

Man I tell ya, the IRS website says it still starts in 2023. Can't they update their own website?

I really don't like using eBay but I might put the most valuable stuff on there to see what happens.

Take a complete set of mainstream SO tools like wrenches, sockets, etc and list them on Ebay with a starting bid of $.01 (no reserve, free shipping and include Ebay managed global shipping). Include lots of high quality images. The entire planet will be your potential customer base vs. a few time wasting local low baller/flakes on CL.

You'll do very well and may even come close to MSRP!

 

[four.cycle]

the figures I posted above (post #17) are not correct.

I crunched the numbers on the cumulative total I've sold thus far on ebay (a total of a whole 9 transactions- woohoo!), and ebay is skimming exactly 19.5% right off the top.

Unless I am mistaken, PayPal is dinging me another 3%, but I'll have to wait until mid-January to see their "statement".

All prices went up across the board.

YMMV

 

[Davefr]

the figures I posted above (post #17) are not correct.

I crunched the numbers on the cumulative total I've sold thus far on ebay (a total of a whole 9 transactions- woohoo!), and ebay is skimming exactly 19.5% right off the top.

Unless I am mistaken, PayPal is dinging me another 3%, but I'll have to wait until mid-January to see their "statement".

All prices went up across the board.

YMMV

Most final value fees range from 13.25% (most common) to 15%. (straight from Ebay). You get 250 free listing insertions/mo. for most categories.

I don't see how you're paying 19.5% and Paypal has nothing to do with Ebay any more as a seller. Paypal only dings me 3% when I sell outside of Ebay.

Security Measure | eBay

www.ebay.com

 

[cgrutt]

Most final value fees range from 13.25% (most common) to 15%. (straight from Ebay). You get 250 free listing insertions/mo. for most categories.

I don't see how you're paying 19.5% and Paypal has nothing to do with Ebay any more as a seller. Paypal only dings me 3% when I sell outside of Ebay.

Security Measure | eBay

www.ebay.com

They charge FV fee on sales tax and shipping which understates nominal fee on a percentage basis e.g. that 13% stated fee is actually closer to 15% on selling price of item. They also charge other fees such as ad promotion, which of course are optional, but gives listing wider exposure these fees can add on 4, 5% or more. Then there's other costs such as packaging (packing paper and bubble wrap, shipping tape, boxes, etc that aren't necessarily ebay fees but still cost of selling online and shipping product. You wouldn't incur any of these additional costs selling locally through CL or FBM. Ebay fees typically cost me 17% to 19% after all is said and done. This excludes the other costs which is why I said figure on 75 to 80% net.

 

[Chrome Vanadium Cody]

I got into selling some stuff on the internet after moving recently and downsizing my home-use tools. Ebay after fees seems to net about 3x what the going rate selling in person locally is unless you really want to haggle hard with people in person, which I don’t. I also use another site called Mercari which is similar to ebay but no auctions. I find some items do better on there and you can just copy/paste your listings in.

I can understand not wanting to deal with e commerce though. And really, forget selling tools, the biggest racket I’ve come upon in this period is realizing I can sell my worn out Carhartts to people who wear them for fashion!

 

[Tynee]

I got into selling some stuff on the internet after moving recently and downsizing my home-use tools. Ebay after fees seems to net about 3x what the going rate selling in person locally is unless you really want to haggle hard with people in person, which I don’t. I also use another site called Mercari which is similar to ebay but no auctions. I find some items do better on there and you can just copy/paste your listings in.

I can understand not wanting to deal with e commerce though. And really, forget selling tools, the biggest racket I’ve come upon in this period is realizing I can sell my worn out Carhartts to people who wear them for fashion!

Interesting. I've got a 20 year old coat with a rip in the sleeve that I outgrew 75 lbs ago. May have to run 'er up the flag pole...

 

[Davefr]

They charge FV fee on sales tax and shipping which understates nominal fee on a percentage basis e.g. that 13% stated fee is actually closer to 15% on selling price of item. They also charge other fees such as ad promotion, which of course are optional, but gives listing wider exposure these fees can add on 4, 5% or more. Then there's other costs such as packaging (packing paper and bubble wrap, shipping tape, boxes, etc that aren't necessarily ebay fees but still cost of selling online and shipping product. You wouldn't incur any of these additional costs selling locally through CL or FBM. Ebay fees typically cost me 17% to 19% after all is said and done. This excludes the other costs which is why I said figure on 75 to 80% net.

Shipping/packaging fees shouldn't be lumped in with "Ebay fees". They are a distinct and separate line item of selling expenses just like cost of goods sold.

Yes, the total cost of selling needs to be part of the ROI comparison between online and direct selling. For me, Ebay usually offers overwhelmingly better ROI than another other method and far less hassle but YMMV.

 

[metaldad]

i bought waaay too much in tools while i was working
now retired, im realizing i really dont have a need for 50 8'' adjustables (an example)
selling on ebay, i stay away from.
listing on forums, like this one, is basically all i do.
i usually ship via USPS priority shipping
lot of tire kickers out there.
not alot of folks willing to open their wallets

 

[seber]

Most final value fees range from 13.25% (most common) to 15%. (straight from Ebay). You get 250 free listing insertions/mo. for most categories.

I don't see how you're paying 19.5% and Paypal has nothing to do with Ebay any more as a seller. Paypal only dings me 3% when I sell outside of Ebay.

Security Measure | eBay

www.ebay.com

The last welder I sold on Ebay cost me 22%. It went 2000 miles by freight. Ebay charged me their full extortion for the product plus freight.

 

[Chrome Vanadium Cody]

Interesting. I've got a 20 year old coat with a rip in the sleeve that I outgrew 75 lbs ago. May have to run 'er up the flag pole...

Sounds “perfectly worn in” to me!

 

[cgrutt]

Shipping/packaging fees shouldn't be lumped in with "Ebay fees". They are a distinct and separate line item of selling expenses just like cost of goods sold.

Yes, the total cost of selling needs to be part of the ROI comparison between online and direct selling. For me, Ebay usually offers overwhelmingly better ROI than another other method and far less hassle but YMMV.

I didn't say shipping was part of Ebay fees. The 17 - 19% is just Ebay fees. Calculated as net amount they send to my account less shipping cost (just postage) divided by selling price (1 minus if we're being technical). I sell on eBay alot certainly more than CL and I don't even have a FakeBook account so never sold there (although my son has lol).

 

[Davefr]

I didn't say shipping was part of Ebay fees. The 17 - 19% is just Ebay fees. Calculated as net amount they send to my account less shipping cost (just postage) divided by selling price (1 minus if we're being technical). I sell on eBay alot certainly more than CL and I don't even have a FakeBook account so never sold there (although my son has lol).

I don't have the answer. I just know they charge me 13.5% transaction fee on the total sale just like their website says. I don't sign up for any of their extra services. I just checked at my account and confirmed this.

Keep in mind that the "total sale" includes the item, any seller shipping charge and any sales tax they have to collect from the buyer. If you calculate the transaction fee % on just the bare item itself it can be higher depending on shipping charges and sales tax.

(ex: if you sell a $50 widget and charge $20 shipping the transaction total is $70 and Ebay will take $9.40 which is 13.5%. As a percentage of only the widgets price that's 19%. But the Ebay fees on the sellers shipping costs should really be part of the sellers overall packing/shipping expenses. If the same widget sells for $70 with free shipping the Ebay fee will still be $9.40 or exactly 13.5%.)

 

[four.cycle]

I don't see how you're paying 19.5% and Paypal has nothing to do with Ebay any more as a seller. Paypal only dings me 3% when I sell outside of Ebay.

I calculated percentage discounts and markups in the retail and wholesale automotive parts business for over 30 years.
That's how the math works out.
Other people have different methods of computing percentages, but that is the way I have always done it, and that is the way it was done in the industry I spent my entire working career in.
It's 19.5% - they take it right off the transaction total (which includes the 10.3% local sales tax and shipping.)

I do not know if PayPal is dinging me on ebay sales - it may well be only on sales outside of ebay, as you noted, but as I said, I will have to wait for a statement to look at the numbers.

Again, it's really a moot issue for me - I just raised all the selling prices on my listings to offset the hit I'm taking from ebay.

 

[cgrutt]

I don't have the answer. I just know they charge me 13.5% transaction fee on the total sale just like their website says. I don't sign up for any of their extra services. I just checked at my account and confirmed this.

It's all good we're probably saying the same thing but interpreting it differently. If by "Total Sale" you mean selling price of item plus shipping plus sales tax, then yes, eBay is charging 13.5% (or whatever fee for that item) as stated in their disclosures. All I'm saying is the net cost to me reflects a higher fee (percentage wise) than stated.

Quick example might clear up any confusion. Say I sell item for $100 with $10 sales tax (round number for clarity). The sales tax is collected and paid to state by Ebay I don't have anything to do with that. So eBay charges me a fee of $14.85 (13.5% of $110) and remit a payment to me of $85.15 ($100 less $14.85). I'm calling that a fee of 14.85% not 13.5% because I sold an item for $100 and Ebay charged me $14.85 ($13.50 fee on selling price and additional fee of $1.35 on the sales tax).

Anyway, all good no worries.

 

[Davefr]

It's all good we're probably saying the same thing but interpreting it differently.

Agree!! Selling inexpensive items with high shipping costs to buyers that have to pay tax will inflate the fees as a percentage of the widgets selling price.

 

[Shocker]

Well I went and listed 15 items on eBay to see how it goes. No tools. Just computer stuff.

 

[four.cycle]

Again, it's really a moot issue for me - I just raised all the selling prices on my listings to offset the hit I'm taking from ebay.

which apparently didn't have much of an effect, because I just got a bid on one of the sets I raised $10 bucks. (net 26% increase)
BK

 

[four.cycle]

Something tells me that the average consumer just isn't as put off by the current inflation trend as GarageJournal.com members.