Question about selling tools

[Finditforu]

My husband passed away a little over a year ago...and he had been a mechanic for over 40 years...he had Snap On and Mac and Matco boxes and lots of tools from just about everyone lol but a large part are name brands with lifetime replacement and there are a lot of of tools...he was a fabricator, welder and worked on large machines so there are huge wrenches ...I am getting ready to sell them and had gotten a few appraisals from a few resellers that they would be worth around $6500 for all..if I sold in one lot or I could make more selling sets...I keep getting asked for the price and so I have quoted $5500 whole...and had some interest....had lots to ask to break up the sets...what I need to know...is 1/2 price reasonable asking price for sets that are from Mac or Snap on...since they have a lifetime guarantee ...I need some help figuring out what I am doing I cant afford to just let them go for nothing...one guy offered me $500 and when I told him no he got up to $2000 if I would let him take them and send me a check lol...I am not dumb ...

 

[xin]

My husband passed away a little over a year ago...and he had been a mechanic for over 40 years...he had Snap On and Mac and Matco boxes and lots of tools from just about everyone lol but a large part are name brands with lifetime replacement and there are a lot of of tools...he was a fabricator, welder and worked on large machines so there are huge wrenches ...I am getting ready to sell them and had gotten a few appraisals from a few resellers that they would be worth around $6500 for all..if I sold in one lot or I could make more selling sets...I keep getting asked for the price and so I have quoted $5500 whole...and had some interest....had lots to ask to break up the sets...what I need to know...is 1/2 price reasonable asking price for sets that are from Mac or Snap on...since they have a lifetime guarantee ...I need some help figuring out what I am doing I cant afford to just let them go for nothing...one guy offered me $500 and when I told him no he got up to $2000 if I would let him take them and send me a check lol...I am not dumb ...

You may hold on to them for a while.

 

[Pontiac787]

Hello,

One thing to note is that the warranty does not carry over to the new owner. That being said, these are quality tools so it isn’t really a big deal. You should look for similar items on eBay to get a sense of the going rate.

 

[Finditforu]

I would not mind hanging on to them but I moved from a large 3 br house with a huge 2 car garage into an apt that is small...I have a walk in closet that is full of the tools we had for the house..mostly Craftsmen etc...I gave my son the bigger things like drill presses...table saws etc...but the Big red tool box is in my living room at the moment and I will be moving into a different apt in 4 months and it would be a huge deal to move them...they had been stored in a storage unit in Alabama and I had to bring them down here to Florida ...and I am still working on getting them all back into the boxes and out of the floor

 

[Musicinabottle]

I really like that Napa 1/2 inch Napa ratchet!

 

[rlitman]

If you can take the time to put together sets, document the part numbers, and if the tools are in good shape with no markings, then 50% of retail MAY be a reasonable price to shoot for.

However, with some tools, newer versions are better, and that hurts the value of the older stuff in comparison to current retail prices. In those cases, 50% may be reaching.

 

[dkroth]

Take the $5500.





.

 

[Toothaker]

I'm sorry for your loss.

I believe that 50% of new is a little optimistic on your part. Yes, if you search Craigslist you will see a lot of used name-brand tools listed for 50% of new prices, but I wonder how many of them really sell for their asking price. A much better gauge of used tool values would be to search on eBay for completed auctions of the items you have for sale. And remember, selling on eBay there are sellers fees, PayPal fees and shipping costs. You may find that sometimes a fair cash price in person is worth more than a great selling price on eBay.

A while back there was a guy on eBay who sold off his grandfather's tools. He had literally hundreds of auctions going, and he let the market decide what the tools were worth. It had to have been a lot of work on his part to manage all that, and apparently he had the time.

Is there an auction house in your area? That would be a quick way to move them out of your living space, but you're certainly not going to get as much as selling it yourself.

 

[isr2kba]

Sorry for your loss. Getting rid of a large lot of tools is a tough spot to be in. Not feeling ripped off at the end of it is even tougher. The thing to understand about appraisals is x number of dollars TO WHOM?

Generally the kind of buyer who shows up with the ready cash to take that lot off your hands intends to resell all or some of it and intends to make a profit doing it. Is the appraisal number referencing that buyer? It is more likely the appraisal is for fair market value of the lot. In this case you have to find a buyer that needs nearly that exact set of tools AND has over 5 grand cash to pay. You should assume that’s going take significant time or luck.

Breaking the lot into pieces makes more likely the event of finding ‘end users’ with available cash and need for the items. This also requires significant labor (researching, advertising, meeting people, negotiating and maybe packing/shipping, etc) — if your time has measurable cash value then you should take that into account.

I personally buy quite a bit as an end user. I try to only buy cosmetically and functionally perfect hand tools and only the best in a given category. I pay up to 75% of current list on smaller tickets and no more than 50% for larger items that I want. Everything I buy is for my personal collection and I never resell because I detest the hassle and at the prices I pay it would be ludicrous to expect to make a profit.

All of this to support my opinion that if you’re trying to maximize the proceeds, break it down and sell it piecemeal— else if you want it gone as a lot, start getting ok with the idea of forty cents on the appraised dollar.

 

[Finditforu]

Thanks...I will be going thru it all and sorting it this weekend. I know he spent a huge amount on tools lol..but that was his livelyhood ...and he was really good...one of those guys that if he had to could build something from anything...there are a few tools he modified for certain things lol...but I know that selling can take a bit of time and effort...it took me 2 weeks just to sort thru and take out the cheap stuff and odds and ends that were in the boxes...like washers and screws and tubes of gasket sealer lol...and we sorted by brand and then by type..put back in the boxes when we took it to storage...and then of course had to take them out to move it again..but pretty much kept them in the same boxes and so now is just organizing them.

I saw that there was a classifieds posting on here...is there much traffic...?
I am realistic as I do sell on Ebay lol vintage lingerie...so this should be interesting...but I had hoped to sell it all together but...maybe it is best I split it....my son was upset that he didnt get it...but honestly I gave him so many tools and such...he isnt doing without....I just know that these are tools I will never use and want someone that will use them to get them. He never met a tool he didnt need lol....I am thinking about getting the boxes repainted and restored....I will need to think about it...they are losing paint...when putting the side boxes on I noticed that I had paint transfer on my tshirt...I think that one set of the boxes are from the 70s so thats 40 years at least

 

[Richard Cranium]

to be able to post on the classified on here you would need 100 posts or buy into the Alliance, which I think that is like 60.00 per year, not sure but you can look it up on the top of this page.
I am going to guess that most of your late husband's tools are Sae. or inch. Which are not going to be very valuable being most every thing is metric these days.
I am very sorry for you loss.
My guess is that a local auction would be your best bet, so you are not tying up months of your time.
Good luck. Rich

 

[DadsTools]

As others have mentioned and you're contemplating yourself, it all depends on how long you want to hold onto them and how much time and effort you're willing to put into selling them.

It's really hard to put a value on them individually. From my selling experience with Snap-on tools, I think about 40% of today's retail value on those in really good condition is a good figure. You'll turn them over quickly and get a fair price. Once you start getting around 50% or more of retail, sales start slowing down. You'll still sell them, but it will take longer to do so. Certain select items like ratchets, I'd hold out for the higher end--they're hot. Complete sets of end wrenches or sockets are hot. Complete sets of anything Snap-on are hot. Onesies-twosies can be a little harder.

It's the eternal struggle in sales. An item is only worth so much as long as you can put the product together with the right buyer. The more time and effort it takes to do this, the less worthwhile it is. Recently had an antique dealer I know sell a MCM bedroom set in Central Florida for $600. I know it would have fetched about $3500 in a major city in the Northeast. That's what it was worth. But putting it together with the right buyers up there was too hard, and not worth putting other matters of life on hold to do that. So she flipped it and made something on it.

I think the fundamental question at the heart of it you need to ask yourself is, "Am I prepared to go enter into a part-time job selling tools?" If you try to piece them out, that's exactly what you'll be doing. If you can use the part-time work, then great. If you don't want to take on a second job, then you should try to sell the entire lot. Auction might be best--unless you're in a po-dunk depressed area like I am where a $3500 item will only sell for $600.

 

[cgrutt]

Sorry for your loss. Pretty much agree with what was said. Another big factor in potential value is if there are any owner marks on the tools (e.g. your husband's initials, etc). Some guys like to mark their tools to keep them from developing legs in the shops they work in. This significantly decreases their resale value and marketability. From my experience Snap-on in complete matching sets in good condition with no owner marks can bring significant value on eBay and if you have any it's worth the effort to sell them there. All other brands including MAC, MATCO, SK, CRAFTSMAN and even loose or incomplete or not matching Snap-on brings far less value. I love that MATCO bottom box but it's not worth much. I bought the same one with a matching top for under $200 about a year and a half ago. Certainly not worth repainting if you don't plan to keep it. Personally I'd give it to your son as it would probably bring far greater value to him than a stranger. Good luck.

 

[rsanter]

Sorry for your loss.
50% of new is very fair and if you look at how old the tools are what we’re paid for them back then it could be more than was actually paid for them.

It’s easier to sell as a whole lot but you make more more money piecing it out.
Sell as sets. Set of sockets, wrenches, extensions..etc
Be prepared that some tools will not sell or won’t sell for a long time. You can drop the price on those till the sell or put in a lot and sell for whatever you can

Might want to post where you are, location effects price and also there may be local members to help out. If you were local to me I would offer to look at them and even help sell them for you

 

[gte718p]

Sorry for your lose.

It is impossible to say for sure without seeing all of the drawer, but I've gotten pretty good at making assumptions off of limited information on craigslist. Assuming the rest of the drawers look the same as the ones posted $5500 is going to be generous to about right depending on your market.

Unfortunately the boxes are not worth a lot. They probably have more sentimental value then monetary value. They are great boxes, but the market wants bigger boxes with ball bearing slides.

The tools are all show signs of wear. Someone obviously used them, unlike a lot of the show boxes that appear here. They are also of an older vintage. It is a niche market that some people want, but not as desirable as the new stuff. That hurts the value.

The loose sockets scare people like me. If you are missing one in a set, the set goes from very valuable to fairly worthless. To get top dollar it is worth getting some socket rails and wrench holders so that it is very obvious that you have entire sets. The sure cheap rails are fine. They run $3 for a set of 3 at HF.

Very few people are going to be equipped or interested to buy entire sets. They are all people like me. I'm going to break it up and sell it. However a full set of tools can take 100's of hours to break up, prepare, advertise, and sell. I factor my time into what I am willing to pay.

If you enjoy doing that kind of thing, you will make the most money that way. If it is going to be a struggle will come out way ahead in taking the low offer reseller. It is not uncommon for people to be insulted by my offer, but call me back in a couple of months. The wrenches, ratchets, impact wrenches go quick. Then it becomes a grind to sell the specialty tools.

 

[Empty Pockets]

Ma'am, I, too am sorry for your loss.

You can look up similar items on eBay, don't liik at asking prices but rather actual sale prices to determine the approximate value of the tools.

If you take the auction route, you'll pay a commission and unless there are 2 or more interested buyers, the value you receive will be relatively low.

If you could find someone to buy the entire lot for $5000 to $6000, I'd let the tools go

 

[gnpenning]

Sorry for your loss. I know you said you have given a bunch of tools and equipment to your son. I don't know if he needs them or just wants them. Myself and many on here are very proud to use dad's and grandpa's tools. Depending on your financial position and if your son would use them I might reconsider selling. How about grand kids?

If not for you there have been some good suggestions above. I agree with not painting boxes. No ROI.

 

[BDT/NWMN]

There are five mismatched boxes that would be easier to sell individually . Empty them out, clean them up and take plenty of pictures for CL.. List the dimensions, make and model number of each box. Note any flaws or damage, and whether they have friction or ball bearing slides. Have the keys in the locks.

Clean up the wrench sets and take pictures of both sides. Note the brand and sizes in the ads, and mention if there are initials or personal marks on the tools.. Please do not take pictures of piles of tools, or describe them that way.. Piles equate to junk pile or neglected heap when compared to a set of wrenches neatly lined up for a photo shoot.

 

[3baygarage]

My thoughts on the whole 50% of new thing only applies to recent tools in nice condition.

A Snap On ratchet from the 80’s can’t be compared to a price from today. Asking half the cost of buying new today would be outrageous.

Even wrench sets, if they are older no one will pay anywhere near 1/2 the cost of new.

Asking 1/4 of new is way too high for older tools. So no, I don’t think 50% a good starting point.


If the tools are older, on most things maybe take 1/4 of today’s price and then drop it even more if you want to sell it.

 

[turbowoodworker]

I have to agree with rsanter's post. Give us your approx location. There are a lot of good people who are local to you and will try to assist in valuation and or sale. Heck, they might even buy from you. Good luck.