My two arrivals for the day. The Olsa magnets are for home and the Lisle tool is for work. I sprung for the red magnets. The orange are a few bucks cheaper.
The Olsa Tools simple and compact design allows you to magnetize and demagnetize all of your bits on the go with only one swipe.
olsatools.com
A comment on demagnetization. To demagnetize a ferromagnetic material (steel alloys) you cannot usually do so (except under extremely specific conditions that you will NOT meet) with a static magnetic field associated with a permanent magnet array like the Olsa tool. Yes, if oriented correctly, that "tool" might take out part of the magnetized alloy field. But it is unlikely to take it mostly out and very very unlikely to take it completely out. Plus if you insert something magnetized (say screwdriver tip) in it pointing the wrong way (just rotate the blade and you will do this) it will then enhance the residual magnetic field to make it *worse* in the sense of being more strongly magnetized up to the material limit. The proper way to demagnetize something Ferromagnetic is to insert it in an oscillatory-current driven electromagnet that is slowly driven (slow here in the sense of material response times which is fast by our perception) while reducing in drive (coil current) amplitude to zero. This should almost always leave the Ferromagnetic material to a state of very low residual magnetization (meaning demagnetized).
I recommend that people avoid buying such a junky "demagnetizer". I feel it is irresponsible for a company like Olsa to sell something like this as a "demagnetizer". Whiha sells something similar. Both border on false advertising. Unfortunately, demagnetization is not so simple.
I looked up a cheap device that *could* work as a demagnetizer for small tools on Amazon. Something like:
is not precluded from working by materials science/physics. It is possible to make more substantial demagnetizers with a driven circuit electromagnet, but that would be expensive and a lot of trouble. I did NOT buy the instrument in the link above so I cannot promise it is quality. But if anyone has one let me know if it works ok on screwdrivers etc, and I might buy one myself.
By the way, the reserse process of manetizing a screwdriver tip or tool is pretty simple. You can just inset the part you want magnetized in a strong dipole magnetic field (say from a permanent magnet). Unfortunately, demagnetization is much more involved.
I hope this helps some people. My late fater used to ask for stuff like this and buy tools like the Olsa device and then he would complain about them not working. He ignored my explanations (thanks Dad!) and an offer to build what he wanted. He tried a few iterations of devices like Outlier showed. None came close to working as one would expect from basic principles.