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Tool liquidation - I NEED ROOM

wcp0611

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Looking for advice on selling off all my tools. I was a hoarder for years and have pallets of tools sitting in my shop I really need to get rid of. Probably 10-12 pallets stacked full of new tools. Any advice anyone can give me on liquidating these? I don't care to get rich off of them but I don't want to let them go for cheap either. I was planning on eBaying all of them, but there's thousands of them. I don't have the time between work and family to list all this stuff. Thought about a local auction house but I'm not sure of the return for doing so. Anyone know anyone that specializes in this stuff?

Its pretty bad in the shop. I've got a 40x60 building only have enough space to pull in one car and I'm still kicking stuff trying to work around it. Very frustrating.
 
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wcp0611

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All of the above. I'll get some pics up when I can. Lots of tool sets, singles, etc. I have ten APGG7500 generators new in box just sitting around too. I know that because I had to move four of them by hand last night to get my trailer in there as it was loaded with a customers mower I had to fix and I didn't want it stolen outside.
 

vavet

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Maybe try an estate auction type service. I think they're geared to auctioning off stuff after the owners have passed, the same principle could apply. Tools are always a good seller. If they can advertise ALL TOOLS, they'll get a good turnout.
 

Strouty

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If you have that much you may get an auctioneer to hold the auction at your location. It would be advertised as tools and equipment and get some good attention. As for costs, it all depends on the auctioneer. Around here, we pay a tiered amount, 20% under $100, 15% $100 to $500, and 10% $501 and up. That is per item, not overall total. I take about 15% or a bit more on eBay sales and I have to ,list it, pack it, and ship it.
 

Codejack

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Get a list together, if you can; I'm in Chattanooga, so I could easily drive up, and I've done liquidation work before.

Basically, if you sell it all yourself on ebay, you should be able to net 40-50% of replacement value. Liquidation value is typically 25%; the difference is the commission for the liquidator.

I would love to look through the list and see what I could move, but Nashville is a larger market and you could probably move it faster through a local liquidator.
 

IndyGarage

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Around here there is a place called "I sold it on ebay". It's a service where you drop your stuff off, they sell it on Ebay and send you a check for 60-70% of the net. At least that's the sales pitch.

I personally have never used them. I should.
 

DadsTools

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You're right about eBay being a VERY time-consuming task--let's not forget the shipping nightmare also. Only thing I'd do that with is if you have vintage collectible items, which it sounds like you don't.

Your first decision is going to be whether or not you want to temporarily get into the tool business. If you want the best price for your goods, that's what you'll have to do. You can advertise for very little or nothing on yard sale / estate sale sites plus craigslist--start about a month in advance. Post lots of photos, but not everything in detail--you want to make it look like there's a lot to sift through to find a treasure. Be sure to state that folks have to bring their own help to move whatever they buy, and all sales are final. Tell the story you told us about how you accumulated them. Limit the duration to a three-day sale, Fri-Sun. It's good that you have a standalone building because you'll have the hoary hoards of haggarth everywhere. Do your research and tag everything with personalized tags also having description of the item (I'd even get them printed up cheap), cause they'll be thieves who will switch the price tags on things. You're looking for the end user, preferably a professional or power DIYer. Anything that is in perfect condition, price 70%-50% of list, depending on the quality and the original sticker price--a piece of expensive equipment from a high-end mfr will sell for the most. No haggling the first day--Fridays are a seller's market! Anything left on Sunday you can haggle more on. Whatever's left over, find a liquidator and sell it cheap. For this option, you should have some business savvy--wouldn't recommend to a greenhorn having no sales/business experience. Plus, you'll have all kinds of people hounding you to sell them early, or show up on your door at 5:00AM--it is a brutal scavenger mentality.

Next would be an estate sales company. At my age and patience level, this is what I'd do. Tools are HUGE estate sales items, and there's buyers that won't even go to an estate sale unless tools are listed. I would search estate sales sites and find a company that dominates a market in an expensive, rich neighborhood. They're the ones that will be big enough to do all the research on your items, and know how to get the best prices for them. The top companies may have a higher commission, but they get the bigger dollars too, and it helps keep away the riffraff. These companies also have a following. They'll do all the footwork, all the research, and all the advertising. Be sure to work on a percentage basis with them, not a flat fee. Once the sale's over, they have established relations with all kinds of 'killers' who will come in and bid on what's left--they'll get a percentage of that too. Neat, clean, easy.
 

DadsTools

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Around here there is a place called "I sold it on ebay". It's a service where you drop your stuff off, they sell it on Ebay and send you a check for 60-70% of the net. At least that's the sales pitch.

I personally have never used them. I should.
Be careful with these guys. Not that they're shady, but they don't always know how to sell certain items, and you'll get nailed on returns. Plus, they don't take in every kind of item, so they'll be things in this OP's lot they won't mess with, so you'll be back to square one on the remaining items. Remember, these eBay agents are looking for quick bucks on higher priced items they can flip quick. If they can't sell it, you get it back, and you're back to square one again.
 
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wcp0611

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I called an auctioneer a few mins ago and am awaiting a call back. Going to see about rates before they even come over to look at it all. I have a Honda Accord and a F150 I can throw in the deal too. Been meaning to get them out of my driveway since my wife and I upgraded vehicles last year.
 
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wcp0611

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*Drool* its like a big candy store

I see a Wilton vice in its box calling my name

You're more than welcome to buy the Wilton. I'm not sure how much they go for but make me an offer. I'd prefer if you at shipping too. I have good rates with UPS and Fedex if you aren't near me.
 

ruffryder

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OP,

Do you need the money? Do you have the receipts from purchase? Maybe a better route would be to go to the local building trade schools and donate a bunch of it. Or give to family / friends that use the tools?

Also, while you have a bunch of pallets and stuff, you are mainly just taking up floor space. You need some pallet racking and a fork lift to stack the stuff up. It isn't that you have too much, it is that it isn't organized. Note sure if that helps or hurts the situation.

Granted I am not at your scale, but when I do clean outs, I just give the stuff away. It feels rewarding to find a home for it that will be used, and I don't have to spend time hours of my time trying to make a couple of bucks. Again, not the same situation, but thoughts anyways.
 
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Bobbydigital211

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I'm in the Cincinnati area so not too far. If you have any other pictures handy I'd like to have a better idea of what all is there. Would possibly be worth a trip down.
 

DadsTools

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I called an auctioneer a few mins ago and am awaiting a call back. Going to see about rates before they even come over to look at it all. I have a Honda Accord and a F150 I can throw in the deal too. Been meaning to get them out of my driveway since my wife and I upgraded vehicles last year.
Auctioneers are an option. They're certainly quicker, as it's normally a one-time event, and easier too. Some may want to haul it all to their regular auction site. If they are a specialist in tools, they'll have the right kind of following. However, if they auction a broad-base of products and do it from their location, there's lots of folks who won't want to wait around until the tool lots go up. They'll also tend to group smaller ticket items in lots that usually go cheap. Auctions are always a dice-throw as to actual selling prices, but certainly they are expedient.
 

jgromada

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This site has a classified section.

You could list here and get paid via PayPal. You don't ship until you receive the money. And to limit the trips to the post office just say you only mail once or twice a week.
 
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wcp0611

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This site has a classified section.

You could list here and get paid via PayPal. You don't ship until you receive the money. And to limit the trips to the post office just say you only mail once or twice a week.

I thought about that for the bigger stuff, but I guess you have to have so many posts to start a classifieds thread and I'm way below that threshold. I may if I don't get rid of them in the next few weeks.
 
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wcp0611

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I'm in the Cincinnati area so not too far. If you have any other pictures handy I'd like to have a better idea of what all is there. Would possibly be worth a trip down.

Give me a bit and I'll try to make a GDrive folder link to send you full of pics. Not sure of what all pics I have on my phone.
 

Strouty

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You need to be careful, GJ has a rule about classified ads and this is starting to look like a massive one versus just advice.
 

chrismenke

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While I agree that eBay is a giant time ****, and they take more than ever for fees, I'd use them for items where you have multiples.

"I have ten APGG7500 generators new in box just sitting around"

Write one listing, decide if you want to auction it or list it for a fixed price, and let it work for you until you have 1 APGG7500 (or none). Listing this way, and selling 1 at as time means you do the groundwork once, and let cash trickle in as folks want things. Not a huge amount of after work either as your items are still boxed. Something to think about...

Same thing is true of Craigslist. If you have 10 of something, write one ad and sell to the 10 responders with follow through.
 
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wcp0611

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Definitely not trying to be one. I'll end the discussion there then. I'm mostly just looking for advice on liquidating all this stuff off at the same time without losing a ton of money on a bulk sale.
 

Maui

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PM me- I'd like to see the photos of your equipment too. There may be a few things that I would be interested in.

Maui
 
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wcp0611

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While I agree that eBay is a giant time ****, and they take more than ever for fees, I'd use them for items where you have multiples.

"I have ten APGG7500 generators new in box just sitting around"

Write one listing, decide if you want to auction it or list it for a fixed price, and let it work for you until you have 1 APGG7500 (or none). Listing this way, and selling 1 at as time helps means you do the groundwork once, and let cash trickle in as folks want things. Not a huge amount of after work either as your items are still boxed. Something to think about...

Good advice. Probably could do this on the smaller, yet expensive, stuff. Really wish I could on the generators just to move them as they are probably the most in-the-way items I have, but they are super heavy and I'd have to ship LTL and that cost would negate their selling price more than likely.

Again, I've got an auctioneer calling me back to discuss pricing on their end. We'll see how it goes after that.
 

Gmonkee

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What I did to reduce for a move;

determine what goes and what won't

first all the big stuff, boxes and vehicles, bikes until it all fit a compact area.

Access the gains vs the hassle and go other specific routes to cherry pick the seller to the item a bit to get best price from the smaller stuff.

Two years later the small remains are still being picked out and moved but it all fits in a stove box.

I didn't have as much but the hassle and tire kickers got weeded out early and most everything offered moved within a day. No commisions or 'finders fee' to vultures after the first round.

Hope any of this helps......
 

Tummler

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If you can set aside a weekend to price out everything, you should consider holding a two or three day "garage sale." Around my neck of the woods, any garage sale involving tools generates a stampede of buyers. Just figure out how most people advertise garage sales in your area and follow suit. You won't sell everything, but I'm guessing you will sell most of it.

As for pricing, I try to determine what the item's going rate is new and, if possible, used. To determine used prices, I search "sold listings" on ebay using advanced search options. If there are no "sold listings," I then search "completed listings." I don't pay much attention to current listings.

The most important thing is to just get started with selling stuff. If pricing out everything you want to sell all at once is too big of a task, break your items up into several groups and conduct a garage sale every six months or so. Once the money starts rolling in, you may develop a newfound motivation for selling this stuff.

As for eBay, selling everything could end up being a full time job. Creating individual listings is surprisingly time consuming. Further, while 95% of my buyers have been great, the remaining 5% have been a real pain in the ***. If you are not the kind of person who can simply write off lost funds to assholes as a "cost of doing business," eBay may not be for your. Also, if you decide to go down the eBay route for more expensive items, I would start out selling 15 or 20 relatively cheap items first. Buyers are weary of new seller (for good reason) and practically speaking, you will have to sell your first items at a decent discount relative to the prices more established sellers realize for the same item until you build up some good feedback.
 
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fatfillup

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I buy and sell used tools. There are 3 ways I can think of to sell your excess. First, you can wholesale them to a reseller who will buy all of them. Likely net you 25% of amazon pricing. You can sell them at an auction. Will bring 30% of retail then you subtract auction fees.

To maximize your money, you will need to sell set by set either ebay, cl or flea market/swap meet. And yes it is a ton of work.
 

Mr_B

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While I agree that eBay is a giant time ****, and they take more than ever for fees, I'd use them for items where you have multiples.

"I have ten APGG7500 generators new in box just sitting around"

Write one listing, decide if you want to auction it or list it for a fixed price, and let it work for you until you have 1 APGG7500 (or none). Listing this way, and selling 1 at as time means you do the groundwork once, and let cash trickle in as folks want things. Not a huge amount of after work either as your items are still boxed. Something to think about...

Same thing is true of Craigslist. If you have 10 of something, write one ad and sell to the 10 responders with follow through.

+1 to this, multiples and anything new pretty easy shift and less work, should be able pull details and some images to speed listing time up and it only one listing to cover 10 generators. Not that much work but going liquidation means you get peanuts . once got details together easy enough copy these to other sales platforms . You can do some stuff as lots so people can buy and resell . You not got anyone local who do the advertising side for small cut or a few free items ? .
 

Ipassgas

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I'm sure Nashville has at least one well attended flea market. They'll rent you a table for a day, usually for something like $20. Haul a load of stuff, grab some stickers, a few donuts and a chair
Price stuff when you get there. If you're "aggressive" about pricing, it'll be gone before your done with the pricing. Then do it again 2 weeks later. Rinse, and repeat.
 

zktk01

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wow nice collection I don't think you would have any problem selling the SK, Black Hawk or Gearwrench stuff. You can probably list those on ebay or GJ and get rid of those fast.
 

jd_1138

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Unless you go through them and make some complete sets -- SAE and metric -- and sell them in sets, you'll probably get hosed on them if you want to sell them all at once in an auction. Maybe keep the brands together and try to complete a set in each brand. List on the local CL, Offer Up, here on GJ classifieds. You can probably sell a craptop of them to GJ members. Lots of guys live in TN on here.

Or if you don't want to separate out complete sets, maybe price them per item. But as far as an auction, the lots might go for cheap or they could go higher depending on who is bidding.
 

gregpack

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With the ebay app on my phone I can create a listing in around five-ten minutes. When I list it I put the item in a shipping box, weigh it and have it ready to go. If someone buys all I have to do is print out a shipping label and throw in the mail. My suggestions would be to put those new in the box tools on there on a buy it now listing for about 10% less than you can find them anywhere online and they will sell within a couple weeks.

My personal rule is I don't fool with anything that I think will bring less than $20, with the buyer paying shipping.

I have hoarding tendencies too. To minimize the purchase of discretionary items I usually make myself buy "toys" only through my paypal account, which is funded by the selling of my other toys. So to buy that new item I've have to sell some other **** I've bought in the past. It's slowly helping clean out my basement.
 

sberry

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The pile would look a lot smaller with some further organization, stacking and stripping out of a lot of cardboard. A lot of room to be gained without losing access if that is an immediate concern. I could do that easily in half the space in a couple hours. More given half a day.
 
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