Snap-on tool set used value

[chrismenke]

For what it’s worth, I would write a check for $7500 easily if you were in WA.

-Mark

There we have it...three real offers:
$7500 in WA
$6000 in Eastern Oregon
$4 in Maine

So there's a geographic element of value to consider as well...

 

[Evan(CA)]

Hello all,
I recently inherited a complete US Set 5 Snap-On tool set with tool boxes. Looked them up new on the Snap-on site and saw they were over $30k new! Unfortunately I just don't have a use for a $30k set of tools and feel like I'm wasting them setting in the garage not being used...except for the basic screw drivers and such. So I'm considering selling them but can't get a good idea of the value. After reading that the warranty isn't transferrable (which seems to be more of a legal point than a general policy of snap-on), I don't know if I can say they have "lifetime warranty" when selling to someone.


Was hoping someone could give me an idea of fair market value (in Va).

Is this stuff even new? You say you inherited it but it's hard to believe someone would sit on this stuff and not open it but ok stranger things have happened. However in your own words:

"Looked them up new on the Snap-on site and saw they were over $30k new!"

You make them sound used. NOS sealed is a completely different ball park that this set opened and used.

 

[JVB]

There we have it...three real offers:
$7500 in WA
$6000 in Eastern Oregon
$4 in Maine

So there's a geographic element of value to consider as well...

Time zones , currency exchange rates. Something must be off here.

 

[AgentBishop]

So I can claim a $4501.33(average) on my taxes for my inherited income! Thanks everyone...thought I was gonna have to claim $15k+!
Kidding , of course. That's all settled already.

 

[rsanter]

It is the most work but if you break it into smaller sets and then sell it off you should get the bast value out of it.
You can sell each puller set individually and those will sell for sure.
Then you can sell some of the specific tools as individual or small groupings of things that relate

 

[AgentBishop]

Is this stuff even new? You say you inherited it but it's hard to believe someone would sit on this stuff and not open it but ok stranger things have happened. However in your own words:

"Looked them up new on the Snap-on site and saw they were over $30k new!"

You make them sound used. NOS sealed is a completely different ball park that this set opened and used.

They are not brand new unopened. They are mostly unused. Some tools never used. Basically he used the screw drivers, sockets, and wrenches. Stuff an average non-mechanic would use.


And if something sounds off...you'd be right. I think its "off" to sell things to old people who aren't thinking clearly. He bought a bunch of stuff after his stroke that he shouldn't have. Someone sold him a new Harley, a full sized Ram 1500(he shouldn't even have been driving), "some tools" (as he told me), a camper trailer, and then almost bought another house.
And before anyone says it...he had a stroke and I moved him up next to me at an assisted living facility...he got "better" and packed his stuff and moved back to Florida... I told him not to...he did anyway.

 

[Leaflessshadetree]

I'll offer $7 if I can work out a deal on shipping.

Strouty I'll offer $3 for you to haul it from VA to IL.
Also I'll offer $0.37 for that nobel prize, you cover shipping.

 

[turnthewrench 2.0]

Strouty gave us the short version of this definition I found on Wikipedia.

Fair market value (FMV) is an estimate of the market value of a property, based on what a knowledgeable, willing, and unpressured buyer would probably pay to a knowledgeable, willing, and unpressured seller in the market. An estimate of fair market value may be founded either on precedent or extrapolation. Fair market value differs from the intrinsic value that an individual may place on the same asset based on their own preferences and circumstances.

Since market transactions are often not observable for assets such as privately held businesses and most personal and real property, FMV must be estimated. An estimate of fair market value is usually subjective due to the circumstances of place, time, the existence of comparable precedents, and the evaluation principles of each involved person. Opinions on value are always based upon subjective interpretation of available information at the time of assessment.

I wouldn't have quoted Wikipedia but, Hey!, it works!

Thanks

 

[Strouty]

There we have it...three real offers:
$7500 in WA
$6000 in Eastern Oregon
$4 in Maine

So there's a geographic element of value to consider as well...

I offered $5 and to pay shipping, no one else offered to pay shipping.

I'll offer $7 if I can work out a deal on shipping.

Strouty I'll offer $3 for you to haul it from VA to IL.
Also I'll offer $0.37 for that nobel prize, you cover shipping.

The nobel prize is not a lock yet. $3 for the haul is close, but I wouldn't want to go to IL, I am afraid of all those crimes I read about.

 

[lowside67]

So I can claim a $4501.33(average) on my taxes for my inherited income! Thanks everyone...thought I was gonna have to claim $15k+!
Kidding , of course. That's all settled already.

Change of plan, I am no longer willing to pay $7500 but instead $4501.33 plus shipping

-Mark

 

[Shiftless]

I wouldn't have quoted Wikipedia but, Hey!, it works!

Thanks

I’m a firm believer in that definition of fair market value. I didn’t want to pass it off like I wrote it myself.

 

[gregpack]

That is a cool set. I'd give 8 K for that set, maybe a little more if you caught me on the right day. It's full of stuff I'd never use though. I work mostly in industrial maintenance on my own equipment in the field and out of a couple of tool bags. And that is the one thing about those huge sets. Mechanics are probably not excited about such a large SAE collection. I on the other hand can carry all the metric tools (needed for a couple of Japanese mfg high pressure pumps) I need on the job in one hand. As a result, few people are willing to pay top dollar out of pocket for such a complete set. If I bought that set 75% of the stuff would go unused. And then my kids are going to sell it one day in thirty years, wondering why dad had such an expensive tool set.

I know your dad probably need this set(few of us do), but if he likes nice stuff and knows he's not long for this world, why not indulge himself a little?

Let us know what you get for it, drive it here down south if you have no takers. My wife hasn't been pissed at me in a while, a new tool chest in the basement would probably change that.

 

[La Petite Tools]

Did i miss the actual pictures of the tools?

 

[Richard Cranium]

only pic I saw was a copy of a set from the snap site.

 

[sberry]

Too bad you couldn't get it on the tool truck,, would have guys chasing it down the street with $100 bills taped to their foreheads.

 

[Strouty]

I know he was being a wise ***, but finding a local tool truck might not be a terrible idea, they may be able to sell it for you, it would be worth a shot.

 

[The Fall]

A friend's dad had a KRL 7022 box lined with everything you'd think a twenty year full-time mechanic would've acquired. Mostly truck stuff (Snap-On and Matco) and nothing lower than USA CMan. Conservatively, I reckoned he had at least $25k in tools with the box (new price -- not used). He passed away and the family tried to sell the set. I offered to help with the listing for free; they knew very little about tools. They had three months to move it as they were selling the house. Initially wanted $8k for it. Eventually dropped to $3k two weeks before they sold the house. When they were lowballed by a pawnshop, I went in and purchased the lot for a price I could afford, even after offering to help them list it for more money online (had they been willing to move the tools). They did alright in the end -- the real value was in the house.

My point is these tools are very much worth what people are going to pay for them. It depends on how your local economy is doing and how long you're willing to sit on them. Prices can really fluctuate. Also, your best bet for high-priced, easily shipable items is eBay. At least from my experience. This topic comes up from time to time.