Snap-on resale value dropping?

[Hiball]

I'm not trying to add fuel to this thread going off topic, but here's a thread with a letter a member received from Snap-on when he tried to warranty some tools. He sent some tools in and they sent the old tools back to him with this letter. They may not do this to you every time, but it could happen.

http://www.garagejournal.com/forum/showthread.php?t=145787

You can expect letters like that when you don't follow the guidelines set forth in the warranty statement, before you can just box up a bunch of tools and send them on there way you must first contact Snap on (personal use only) and request a "RGA" number. There have been plenty of threads of late, where members haven't had receipts and snap on warranted there stuff. I think this New system is to only track warranties to keep the flea market hounds at bay.


To get back on topic... The prices on ratchets has seemed to flatten out a bit, but the market has to be getting damn near flooded.

 

[lennoxlennox]

anyway... sorry OP.... i've completely hijacked your thread, point has been made excessively.

as for snapon pricing going down, my experience works like this, if i'm selling an item, yup the pricing has gone down because i can't get what i've seen others get

when i want to buy a used item, seems like the pricing is going for a premium every time because i can't buy it for the price i've seen others get it for

 

[purplezr2]

Honestly why does this keep coming up? I have had no problem walking on to a dealer truck and getting warranty service when I didn't buy something. I have had no is getting stuff warrantied over the phone. You can expect to warranty 20-30 item at once when that have 20 year old part numbers. I usually warranty one item at a time. Though before I moved I did bring like 10 items to my dealer and he took care of them all no issues or questions asked.


As for the orginal topic pricing is still all over the board in my opinion, I still see ratchets go for great money and some go stupid cheap. Same with sockets.

 

[ChevyEFI]

Short Answer...Yup....Isnt a quality tool SUPPOSED To be handed down? Heck I want to say I remember a scene of a Father handing down a SnapOn wrench or other SO tool to his son plastered on the liftgate of a couple SnapOn trucks....forgot the saying, but for some reason thats sticking in my head.

What about tools which were purchased new and given to me as gifts?

What about them? The date code supports that you were alive and using tools when the item was made. Minor griping will get it warrantied.

My TH737 I got as a gift should be covered; who is disputing that? Not me. The 3/8" breaker bar I got free that's date coded when I wasn't born, I don't expect a replacement for.

Have you even run into a "you have no receipt, so forget about it" or do you just enjoy debate?

I'm not a huge fan of having to wade through lies (we can't warranty that for you) just to get something fixed. But that's how businesses are now run.

 

[woody 73]

Maybe I am wrong but I was always under the impression that the public wants the latest products whether it be electrical goods to the shoes you wear; with that being said the price would drop for the older merchandise and stay up in price for the new gadgets just released.

At least that is my understanding...

 

[vintagefan]

I would have to say that resale value is not a very big consideration to the majority of my customers.

Other than warranty and quality, retention of value is the reason that I see repeated over and over by owners, as a justification for the expense of their SO tools.

In fact, almost every "why choose SO" discussion I've seen features retained value quite prominently.


For me, it's the final reason that I buy SO versus other brands. IMO, there are other tools available that are equal in quality and significantly cheaper, specifically Wright and Proto... but once you buy them, they're essentially worthless in comparison (especially wright)

I won't say that there aren't other reasons, but retained value is huge for me, it's the reason I own a Toyota, and it's the reason I own Snap-on.


I think that there is some disconnect between franchise owner's perception of their customer base's views, and the views of the rest of Snap-on's customer base. For instance, I heard repeatedly that the majority of customers "didn't care about USA stamping", yet obviously quite a few people did care, as admitted by SO corporate, not an exact quote, but "we were surprised by the response from customers". I have a feeling that not all of that response was the whiny internet crowd, either.


I think you guys have a sub-ecosystem and you are probably 100% correct about the majority of your customers, but SO's customer base is much, much larger than that alone.

anyway... sorry OP.... i've completely hijacked your thread, point has been made excessively.

as for snapon pricing going down, my experience works like this, if i'm selling an item, yup the pricing has gone down because i can't get what i've seen others get

when i want to buy a used item, seems like the pricing is going for a premium every time because i can't buy it for the price i've seen others get it for

No problemo, just started the thread for curiousity's sake, didn't intend anything heavy.

 

[glenmore]

For me, it's the final reason that I buy SO versus other brands. IMO, there are other tools available that are equal in quality and significantly cheaper, specifically Wright and Proto... but once you buy them, they're essentially worthless in comparison (especially wright)
.

This is the unfortunate truth. Buy just about any other non-Snap-On tool for your box, use it, it'll work just fine. But try and sell those tools? You almost have to give them away. This goes double for Snap-On tool boxes. Are they functionally that much better than the other hi-end boxes? Maybe a little, but basically splitting hairs. But Snap-On is what people WANT.

There may come a time when everybody has all the tools they want. Heck, even Apple stock is coming down now that just about everybody has an iphone5.

 

[kc-steve]

. . . There may come a time when everybody has all the tools they want. Heck, even Apple stock is coming down now that just about everybody has an iphone5.

You didn't seriously mean that, did you?

Steve

 

[sberry]

Why would you pay 4 times as much today just so you get a little more if you want to sell it? It retains value alright, at about half what you paid for it. Buy a 10$ proto wrench use it 10 yrs get 5 for it. Cost 50 cents a year. Pay 40 for one get 20 out of it cost 2$ a year most of iin yesterdays dollars up front, cost 20 to use it, twice the original purchace price of the Proto not including you had to come up with 4x up front.

 

[purplezr2]

Why would you pay twice today just so you get a little more if you want to sell it?

Why do you hate snap on?

 

[sberry]

I saw China wrenched on a tir wire at an auction, was an Amish stove shop with a bunch of adolecent kids as the manpower, wrenches beat to ****, seen a lot of hard use brought as much at auction as you could have walked down to the store and got new for, the fancy stuff went about 25 cents on the dollar. Classifieds here full of like new chrome for near 50 cents on the new dollar.

 

[sberry]

Why do you hate snap on?

I dont hate snap on, not at all but the argument that it makes financial sense is engineered by 1st grade math students.

Same salesman wants to sell me a tractor based on resale value,,, let me get this straight,,, I should pay 10K more today in hopes I get 5 more out of it 10 yrs from now? Who does this math?

 

[glenmore]

You didn't seriously mean that, did you?

Steve

OK, strike that first part!

 

[kc-steve]

. . . There may come a time when everybody has all the tools they want. Heck, even Apple stock is coming down now that just about everybody has an iphone5.

Strike BOTH parts. Apple stock is over priced. I don't have an iPhone but want a smart phone of some sort. I'm waiting for prices to come down. I don't really need one either.

Even if the market is saturated by any product, the market is dynamic, and always changing!

Steve

 

[glenmore]

Why would you pay 4 times as much today just so you get a little more if you want to sell it? It retains value alright, at about half what you paid for it. Buy a 10$ proto wrench use it 10 yrs get 5 for it. Cost 50 cents a year. Pay 40 for one get 20 out of it cost 2$ a year most of iin yesterdays dollars up front, cost 20 to use it, twice the original purchace price of the Proto not including you had to come up with 4x up front.

Well, here's my math.

Buy used SO wrenches for average about $10 each. And not just use them but ENJOY using them. Sell them for about $10 each. Cost of ownership = about 0.

 

[sberry]

I don't knock snappy at all, in fact if someone comes along that says they got a fistful a mansion and a yacht they want the best, don't matter what it costs then great advice for him but some poor type or handyman is getting hot air when anyone insists he should be saving up his pop cans to make the first of 24 payments on a combo set to "get value" is full of **** and giving poor advice.

Someone that suggests a set of sockets from Walmart so the guy can get on with his life, do what he needs to do, get to work if he has to, save a buck is doing the guy a favor especially since you can get a nice shiny piece for a dollar that blindfolded you couldn't tell apart and after using the stuff in severe heavy duty shop for extended periods of time by multiple mechanics can say for a fact it works.

We had one here the other day figured he might need big dollar stuff cause his hands are pansy *** and with gloves etc didn't want to slip and hurt themselves, where do people learn to make value judgments? No wonder American politics is so fud up, a certain amount of obvious must be irrelevant.

 

[sberry]

Well, here's my math.

Buy used SO wrenches for average about $10 each. And not just use them but ENJOY using them. Sell them for about $10 each. Cost of ownership = about 0.

I cant argue with that,,, the point of paying 10$ is way different than new retail making payments or even at student discount.

I would buy a few snappy wrenches if I needed them at 10 but I don't enjoy using them anymore than any other, my enjoyment personally if you could call it that is to meet the man and a sufficient tool to a well enough maintained machine it doesn't take a 40$ wrench to move every bolt or make adjustment. My enjoyment id finding I have a 2$ wrench in what ever I am riding in to solve a problem at hand, it isn't worth putting a 30$ wrench in the way of this speculation at many of the turns but when a fistful of stuff totaling just a few dollars is sufficient I am all over it as an investment.

Most don't need "better" tools they need more, if one is a tech type in a dealership there is a different style vs home, vs home garage, vs working from multiple bays or on the road. Some of this has high loss potential,,,, way beyond breakage, if stuff is cheap enough in some cases may not be worth worrying over etc, some of this fine stuff is near disposable in price. I got to wonder is anyone badmouthing Stanley has ever bothered to stop in the store that vends this 24/7 and look at how nice the stuff is and really consider the sticker price as near free compared to tool truck prices. Its so cheap its next thing to free and its good, I cant imagine from a technical point of view why any kind of argument cant be made on quality alone let alone cost.

I must have bought half a dozen torx sets over the years, a few singles in 60 which brand has been **** eclipsed by one from some cheap set I fall back on, well one set that was super got lost or stole, lasted 10 yrs, paid 14$, next set I find in a yard sale gave a dollar, someone else finally break and twist up 2 but they would have destroyed a 20$ one all the same, I found another cheap one and finish same work.

I wouldn't be scared to source something if it worked better, if it was production involved but to those who think its worth the effort or they are so much golden arms that saving 5 minutes a day by spending 6 or 8 grand on a box are fos too.

So what if isn't worth anything when done...?????? didn't pay much for it to start with, mathematically its a no brainer. There are a few spots where better is better, some in installation involving power tools usually where the less tool is not up to the task, a bit in welding machines although that gap is really narrowing fast, it was a late bloomer.

Hand tools very little performance difference and real failure almost un noticeable considering our numbers, we would possibly saved 3 end wrenches out of hundreds if we had a better tool? We would have had to live with only one due to cost? All the work would be loaded on the wrench vs spreading it across a dozen cheaper units that are more convenient to find. Only real reason I even recall failure rate at all is I have a passing interest as a provider for my men, I can say for a fact an investment in a extra 4$ 3/4 impact socket will pay returns while changing or upgrading just 10% of the ones I have to a premium product wont earn a cent in forever.

 

[vintagefan]

Why would you pay 4 times as much today just so you get a little more if you want to sell it? It retains value alright, at about half what you paid for it. Buy a 10$ proto wrench use it 10 yrs get 5 for it. Cost 50 cents a year. Pay 40 for one get 20 out of it cost 2$ a year most of iin yesterdays dollars up front, cost 20 to use it, twice the original purchace price of the Proto not including you had to come up with 4x up front.

If you buy used, buy BOGOs from the truck, and keep very good care of your tools, SO is the only tool brand that you can retain nearly equal or sometimes even in excess of the amount invested in resale value.

SO is truly in a league of its own in that aspect.

Don't get me wrong, I CAN NOT afford SO tools, the pricing is brutal... but OTOH, I can't afford to not buy SO, as my tools are a large portion of my net worth, and buying tools with poor resale value reduces my net worth by tens of thousands of dollars.

 

[sberry]

I can imagine the looks I would get if I come in the morning with some scheme as to how much better off we all would be if I traded my Sears box up to the truck for 6 and change in difference,,, hahaha, my master neighbor who works part time for me would say,,, wtf,,, ha I am the one who usually suggests getting a few small things, his response is usually we been doing ok without it.

He knows I cant spend anymore to make anymore and any difference we tried to save by spending would be so miniscule it would never pay only cost.

 

[tweedlestan]

ARE YOU F'ING KIDDING ME???

Clearly that type of logic shows you aren't a tech and you aren't buying tools for the right reason. (if in fact you really even buy anything)

May I ask, what the hell is the right reason to buy tools? Shouldn't that be up to the buyer? Who are YOU to decide what is a "wrong" reason to buy tools?

I buy tools from various companies, I USE AND ABUSE THEM. If they break I warranty them. Hell, even snapon warrantied sockets that clearly they shouldn't have from me as it was clear i used chrome on an impact.

Sounds like you're part of the problem.

I'm 21

That's it. Now I understand your snotty attitude.

 

[sberry]

and buying tools with poor resale value reduces my net worth by tens of thousands of dollars.

How you figure this,,, you didnt have to invest tens of thousands of dollars in the first place. Tools are not an asset, they are a liability, its money you have to come up with to do the work you do. A car is not an asset, its money you have to come up with every month so it can sit in the parking lot while you enter your work.

 

[sberry]

In some cases this is important, there is no point in doing without if you need something to do something because you cant afford a 500$ wrench set, this thinking hurts small business, have seen many really hurt themselves for a pitiful shortage of a few basic hand tools. Some hammers and a couple crescents can go a long way.

I see an outfit so depressed of tools so owner goes on to the truck, spends 13K on stuff, so scared they gonna lose it he locks it in the office. 500$ at the flea mkt would have paid off in spades, almost overnight, for sure at the end of a week since it involved mostly half a dozen guys wandering around looking for a 9/16 wrench and a ball pein hammer.

Hence my experience from the Amish welding shop,,, it looked like they really got some mileage out of a 15$ set of wrenches and someone still gave them 12 at a sale for them with the good ones missing, ha. How could they have gained with something better when the tool survive a bunch of steak eating monster adolescents armed with a metric crescent and 8 pound hammer?

 

[Skyline]

If you buy used, buy BOGOs from the truck, and keep very good care of your tools, SO is the only tool brand that you can retain nearly equal or sometimes even in excess of the amount invested in resale value.

SO is truly in a league of its own in that aspect.

Don't get me wrong, I CAN NOT afford SO tools, the pricing is brutal... but OTOH, I can't afford to not buy SO, as my tools are a large portion of my net worth, and buying tools with poor resale value reduces my net worth by tens of thousands of dollars.

Well, if you buy Snap-on tools used individually on eBay, you can expect to pay a similar price to what they will sell for individually at some future date on eBay. But if you die, and your heirs sell your tool collection as a single lot, they can expect to get closer to 20% of list...not the 50% that you paid.

On the plus side, if you have the cash to buy a large collection of used Snap-on tools, you can get some great deals.

 

[Skyline]

>vintagefan I think the drop in price of the fine tooth ratchets is NOT a good litmus test for used Snap-on prices in general. The sold used for very close to list prive when they first came out. Now that they've been around for a few years, their price has dropped to a more normal used price. They were in big demand, (higher price) when they first came out because they are a great product; and a significant improvement from the 36 tooth ratchets. Anyone who tried one wanted them.

That said, I DO think the new warrantee policy will reduce used prices somewhat, which in the long run, will only harm sales of the new products.

 

[85camaro]

I honestly don't know why the prices of the tool truck brands remain as high as they do.

Snappy makes fine tools, but they have become so readily available that I would have thought a saturated market would bring down their prices some.

Last time I was on the Mac truck, I saw an encroachment of tools made in Taiwan. I haven't been on a Matco truck lately, but I've heard the same about them also.

Cornwell is probably the biggest offender of offshore tool sales and no one cares about them anyway.

Throw that in with all of the rebadging and equivalents you can get elsewhere for much less, I really do wonder why the truck brands still sell for the premium they do.

 

[Spudland_Dave]

Last time I was on the Mac truck, I saw an encroachment of tools made in Taiwan. I haven't been on a Matco truck lately, but I've heard the same about them also.

This is true...Between a great dealer, great product and great pricing (monthly specials, discounts, etc). Its a perfect sweet spot for me...COO has never really bothered me one way or the other. Quality is quality. Great dealer is probably #1 too.

Throw that in with all of the rebadging and equivalents you can get elsewhere for much less, I really do wonder why the truck brands still sell for the premium they do.

It has less to do with the brand & pricing and more to do with routine stops, for sales, service & warranty. If you could rebrand some Kobalt or SK...heck lets go all the way and say Rebranded HF tools with some new fancy logo, make some cool promotional gear and slap cool graphics on a truck, you could probably make a good living selling any kind of tool if you went shop to shop.
A person could say the same thing about some other brands in different respects...How can PROTO stay alive when there is virtually no place you/I can lay your hands on one to touch & feel it?

You know how many tools i've impulse bought off various trucks? I dont really "NEED" another pick set...BOGO this month, so my MAC guy will have it for me next Wednesday...

 

[85camaro]

This is true...Between a great dealer, great product and great pricing (monthly specials, discounts, etc). Its a perfect sweet spot for me...COO has never really bothered me one way or the other. Quality is quality. Great dealer is probably #1 too.



It has less to do with the brand & pricing and more to do with routine stops, for sales, service & warranty. If you could rebrand some Kobalt or SK...heck lets go all the way and say Rebranded HF tools with some new fancy logo, make some cool promotional gear and slap cool graphics on a truck, you could probably make a good living selling any kind of tool if you went shop to shop.
A person could say the same thing about some other brands in different respects...How can PROTO stay alive when there is virtually no place you/I can lay your hands on one to touch & feel it?

You know how many tools i've impulse bought off various trucks? I dont really "NEED" another pick set...BOGO this month, so my MAC guy will have it for me next Wednesday...

You make some execellent points.

 

[vintagefan]

How you figure this,,, you didnt have to invest tens of thousands of dollars in the first place. Tools are not an asset, they are a liability, its money you have to come up with to do the work you do. A car is not an asset, its money you have to come up with every month so it can sit in the parking lot while you enter your work.

How do you know how much I have invested in tools? Trust me, it's a lot more than $10,000, and the realistic used market value of my collection is definitely in the tens of thousands.

Tools are assets once they've been purchased and paid for... my total worth is the combined current liquidation value of all of my assets.

If I pay $20k for the exact same Proto and Snap-on tool sets, but the Proto is only worth $5k second hand, while the Snap-on is worth $12k second hand, buying Proto reduced my worth by $7000, no matter how you look at it.

Now, if I plan on NEVER selling them, you could argue differently... but I can't say with any certainty that I will NEVER need to sell my tools. What if I was in a bad accident and no longer could use them?



Maybe I look at this different as a former business owner, but try arguing to Uncle Sam that tools are not taxable assets... you'll have a pretty tough time I think.

 

[sberry]

Well, if you buy Snap-on tools used individually on eBay, you can expect to pay a similar price to what they will sell for individually at some future date on eBay. But if you die, and your heirs sell your tool collection as a single lot, they can expect to get closer to 20% of list...not the 50% that you paid.

On the plus side, if you have the cash to buy a large collection of used Snap-on tools, you can get some great deals.

Sure, this is accurate.

If I pay $20k for the exact same Proto and Snap-on tool sets, but the Proto is only worth $5k second hand, while the Snap-on is worth $12k second hand, buying Proto reduced my worth by $7000, no matter how you look at it

But you dont pay the exact same for the proto, the purchace price is lower. By the way, am a business owner, still one.

 

[sberry]

Here is a simple view, the wrench doesnt know the difference and nither does thebolt so say we score a full polish set of Stanley from Walmart for 5 cents on the dollar vs the truck at a dollar. We can multiply it by 10 or tens of thusands but the math is the same, sure its not worth as much in resale and by all eveidence about what we paid for it but we only paid a nickle in the first ploace, we only spend 5 thousand not tens of thousands,,, even if you pushed them in a dumpster in the end you would still be money ahead.

 

[Spudland_Dave]

Here is a simple view, the wrench doesnt know the difference and nither does thebolt so say we score a full polish set of Stanley from Walmart for 5 cents on the dollar vs the truck at a dollar. We can multiply it by 10 or tens of thusands but the math is the same, sure its not worth as much in resale and by all eveidence about what we paid for it but we only paid a nickle in the first ploace, we only spend 5 thousand not tens of thousands,,, even if you pushed them in a dumpster in the end you would still be money ahead.

Agree 100% with you
Buying SO, vs Stanley ends up being in the same boat as Rolls Royce vs Kia....both will get you to work & back. One will just look a whole lot better and be more comfy. Rolls dealer will probably come right to your work, grab the car leave a loaner and do whatever service is needed..Kia dealer, bring it in on your own dime & time. ROI wise, riding the Kia is probably wiser.
You ARE Right...the Kobalt 17mm I bought not too long ago works just as good as the CMan it replaced, and the SnapOn's a couple pegs over on my Hansen organizer work equally well.

That being said...I still like my MAC & Snap On's sockets more, I'll be honest...they feel better in the hand...on the ratchet and on the fastener, its all the same...Its an emotional thing....no real surpise there are so many "any brand but SO *****" guys here...for the same reason COO posts end up in a huge ******* match. More emotion than logic.

 

[sberry]

Agreed more emotion than fact. I think Snappy is an excellent tool, never was my point that it wasnt but really only as a rate of return issue as well as value if you want to toss it in there, like I said, can afford to shove a Stanley in to the scrap pile if need be, not worth worry about warranty although it is,,, but so cheap just replace if lost, not even worth insuring.

Had a couple buds with collections stolen, one over 25 yrs not sure what he replaced and another didnt think it was worth a long hi dollar road, marched up to hf and bought the few things he really needed again and called it a day.

I added another 13mm to the pool a while back, my guy noticed it and asked,,, it was a Kobalt or huskey, long handle full polish was like 4$ with tax, wasnt much and it "doesnt" match some cmans in the pool, easy to spot. I like odd sets, have a lot of pieces I recognize.

 

[sberry]

Dave. It wasnt long ago I would have been right there with you on sockets but they have come a long way in last bit. Same for the cheap adjustable. Used to be a guy could strip a cheap socket right out but in recent history it aint so. Last real damage was to a couple small 3/8 13mm which had exact same flaw at same time which leads me to suspect someone broke them driving them on a stripped fastener.

I am with you on the rolls kia argument and if a guy works by the hour a rolls is not for him.

 

[Hiball]

It's funny watching members try to justify there purchases here at GJ, after awhile all I have to do is look at user names to know what argument there gonna use on said day.

If Stanley works for you, by all means buy Stanley. If Snap on gets your juices flowing... You guessed it..

Does anyone here really only have 1 brand of tool in there arsenal?

 

[tweedlestan]

Does anyone here really only have 1 brand of tool in there arsenal?

Not me. I buy whatever works. Maybe I'll start a "List the tool brands you own" thread.

 

[rsanter]

i think its all based on supply and demand
there is a greater supply and a lesser demand on many items due to the economy, metric verses SAE and such

bob

 

[Man of Many Vices]

Other than warranty and quality, retention of value is the reason that I see repeated over and over by owners, as a justification for the expense of their SO tools....

In fact, almost every "why choose SO" discussion I've seen features retained value quite prominently....

I won't say that there aren't other reasons, but retained value is huge for me, it's the reason I own a Toyota, and it's the reason I own Snap-on.

"Retained value" is another way of saying "higher resale value." The question then becomes, what was originally purchased and what is now being resold?

What were the warrantly restrictions at the time of the original purchase 10, 20 or 30 years ago? Was there a "no assignment of rights," or "warranty not transferrable" clause or other clear language that limited the warranty to the original customer?

If there was no such restriction, then the warranty was among the bundle of rights that were purchased by the original customer, and are transferred to the next buyer when the tool is resold.

The right of the original buyer to convey 1) possession, 2) use, and 3) warranty replacement if needed, to the second buyer can be implied by the advertisements, statements, and conduct among the parties before, during and after the original sale transaction.

If there is NOW some restriction on the transferability of warranty rights with respect to newly purchased tools, one must ask whether that restriction has been clearly expressed and understood by today's new tool buyer, in light of the historical understanding and behavior of the parties. If so, then, as to these newly purchased tools, the subsequent buyer(s) is/are out of luck.

What this means is that the older Snap-on tools are worth more -- they have the transferable warranty, and the newer Snap-on tools are worth less -- no transferable warranty. Those of you who buy and sell older Snap-on tools have a warranty that was transferred to you when you bought the tool, and will be transferred to the person who buys the tool from you.

All you new Snap-on tool owners, keep all your receipts, ask your Snap-on dealer for periodic printouts of all your purchases, and keep your dealer on your Christmas card list so he doesn't forget you.

 

[XxToolAholicxX]

Its maybe people like myself getting away from premium tools, due to the warranty not being honored as much and the truck guy don't want to hear you if not bought from them. If you brake it and i don't care what kind of tool you use in the world it is going to break. And yes even if you use it for the right job and correctly it will break. I go to a place named Sears and they sell tools called Craftsman if it breaks they just give you another no question. And nowadays almost all tools are either made in China or Taiwan their quality is so so. But premium tool companies sell these poor quality tools and put their name on it been done since WW2. They are just banking on the old reputation and name. I do own some premium tools back when they were made in USA and awesome quality. Nowadays i save my money and buy Craftsman for a lot less and if it breaks i get a new one.

Iam a ToolAholic,Sometimes I regret it,Especially when the tool man won't give me no credit

 

[Chandos]

So I went searching for that Scene...but found this pic on Toolmonger about which is off the SnapOn site at around fathers day 2009 ...

So, if the 7 year old son buys a tool for his dad...he better keep the reciept and have the SnapOn guy visit him in school to do the warranty...or they can wait for summer break and then the SnapOn truck can swing by the Day Care. See what I mean...it doesnt make sense.

So where does a seven year old find the bucks to buy dad SO tools for Father's Day? He must be pushing more than lemonade down at the curbside stand.

 

[honcho]

If you want the price of anything to be high, wait until I'm trying to purchase one of them....LOL

For business managerial and tax accounting, most common tool purchases for business use are considered consumable expenses and not capital purchases. Yes, some large purchases such as a lift or expensive scanner can be considered capital investment purchases that are depreciated over time. I suppose you could buy one of the huge "Master" sets and record it as a capital purchase as well. Yes, even a 20 year old tool has value but from an accounting perspective it is a sunk cost, long since paid for. Any value remaining, even if it's more than what it originally cost, is a residual value (in tax accounting, that's not entirely correct but for my purpose here, it's close enough)

It's more difficult for individuals to look at things we purchase as the depreciating assets that they are. Companies are always trying to get us to consider how important an investment whatever they're selling is supposed to be to us. About the only thing most of us buy that is usually not a depreciating asset are homes. But as many people in the USA learned during the past few years, home prices can go down too.

Regarding the original topic, many resale values are seasonal. When I visit my son in Alabama, I visit the local pawn shops. One time I inquired why they had so many roofing nail guns for sale. The owner said when roofing work dries up, in comes the penniless workers trying to get money for a tank of gas. He said come spring they'll be back to buy their tools back. Of course, he makes a healthy profit for tool "storage."

The moral of the story is that if you have time to wait and stay on the lookout, a deal will eventually come around.