Vote Your Expected Discount for Owner Marked Tools

[Bolster]

How much of a discount do you expect on a used tool that has been moderately engraved, stamped, filed, or otherwise marked by a previous owner?

Imagine you find two identical tools at a garage sale or flea market. One is moderately engraved with the owner's name / stamped with initials / filed, and the other is not. How much less would you expect to pay for the marked tool?

EDIT: If your answer is "would not buy a marked tool" please check the last category.

 

[BlueSOG]

I know it's silly but I won't buy a tool with someone else's mark or engraving, unless maybe it's a friend who needs cash or something.

 

[Bolster]

That would be my preference, too, but when collecting a set of tools piece by piece, sometimes I look the other way and buy a marked tool to fill in the empty spot. But I surely would not buy a marked piece at full price!!

 

[nordstar]

At the flea and garage sales around here it is a moot point for me. Most of the tools here are so cheap asking for a discount would get me "R-U-N-N-O-F-T". The Price verses the want is all I care about, if the tool is to much with or with out markings I wont buy it. I don't like grind marks at all, owners engravings don't bother me much and letter stamps add character on really older tools. My grandfather engraved most of his better tools he would carry with him. Only about 10% of what I find for sale has marks on them.

 

[Bolster]

I'm calculating a running weighted average from the above poll. With eight responses so far, the "average" discount expected is:

41% discount.

Bet you didn't know that Wash Hogwallop could cipher.

 

[tatra]

depends if the markings are politacal or religous...............

 

[canbug]

I would agree with nordstar. Grinding marks or filed off engravings are really hard to buy. I usually don't mind if someone has there name stamped or engraved on a tool. I just adopt the engraving and can tell that it is one of mine.

Tim

 

[tatra]

gotta question about this thread, i go to todays posts and this thread doesn't come up, or in the general tool discussion list either..........yet i can find it in my stats..........is there something different about poll threads?......

 

[lauver]

I have quite a few tools and sets picked up at flea markets, garage sales, pawnshops, and swapmeets. Less than 10% of used tools I run across are deliberately marked. If I need a tool and the price is right (arrived at thru normal negotiations) I buy it without consideration for any markings.

I buy tools to use them. To my way of thinking, most markings don't effect the tools usability.

On the other hand, I can appreciate that folks who buy tools specifically to resell or trade might be put off by markings. They have to look at tools from the prospective buyers standpoint; markings can queer the deal or lower profit margins.

My take on this issue...

 

[Bolster]

The weighted running average so far, with 21 responses, is:

40% discount.

asking for a discount would get me "R-U-N-N-O-F-T".

LOL!! Now you are speakin' a language I can understand...

 

[Danglerb]

Some tools I flat out won't knowingly buy with engraving or grinding, others I don't care that much, but still won't buy unless cheap.

If I don't expect to put much wear on a tool, I don't like the idea of starting out with what would be 30 years of my use already on it.

Swap meet guy I buy from puts the good almost new looking tools in bins on a long table, and anything with grinding (I never see engraving so assume he grinds them all off) go in a 5 foot wide pile on the ground. Stuff on the ground is about 1/3 less than in the bins.

 

[hymnHim]

I dont like engraved stuff. That being said, I do have a box full of them, but I do pay less.

 

[Bolster]

The weighted running average so far, with 57 responses, is:

42% discount.

 

[T56 Impala]

Bolster, as I said before, there is a fine line between defaced tools and patina. Its going to be much harder to quantify "markings" with vintage stuff. I don't go out of my way to avoid marked vintage tools like I do with modern tools. Especially if it is something that I really need to complete a set or something fairly rare.

Anything pre 1950 with markings are I consider patina. Now, grinding is a no-no. If something is obviously ground I will steer away from it.

 

[Bolster]

I think this poll makes an important comment on eBay sales.

Ebay sellers frequently omit information about previous owner markings on their used tools.

They artfully take photographs that omit the engravings or stampings or grinds, too. When a closeup of the tool is shown, it's often for the reason of not picturing an owner's mark that would be seen in a wider shot of the tool.

Then, when you receive the marked or defaced tool, they claim "It's no big deal." (Even though they go to great lengths to disguise those markings.)

Now we have an idea of how big of a deal it is, on average...it pulls down the price of a tool approximately 40%!

So if you pay $20 for a tool, and the seller doesn't disclose markings, you just lost $8 on the deal.

 

[Kona Cruisers]

I wouldn't buy anything with engravings... period.

however family engravings (mine)(dad granddad) are 1000% ok...

 

[Bolster]

Kona, your vote would fit in the last category....which includes "would not buy at all."

Thanks!

 

[speed bump]

I buy tools to use not to look pretty if they are cheaper because some engraved them all the better.

 

[Kona Cruisers]

I understand above.. however.. why would John Doe engrave S/P on his tools.. something the snap on guy *might* say....

 

[cnyeco1]

I buy all my tools off ebay, inherited them, or buy them at garage sales. I don't care about a discount for ingraved tools. But I would expect to buy a USED tool at alot less price than new. About half, maybe more.

I use my tools. The engravings don't effect the outcome. And there isn't anyone going through my boxes asking me who is this guy on every wrench.

I don't care who owned it, I OWN IT NOW.

 

[RRmech]

! find a lot of tools at yard sales and flea markets.
I expect to get tools dirt cheap, so engraving isn't an issue.
Flea-bay is another story though?

Steve

 

[Delray]

! find a lot of tools at yard sales and flea markets.
I expect to get tools dirt cheap, so engraving isn't an issue.
Flea-bay is another story though?

Steve

My thoughts also. I don't buy to resell or collect so it's not that much of an issue with me. I am, however, leery of engraved stuff on Ebay especially those with the engraving ground off.

 

[Scotto]

I buy all my tools off ebay, inherited them, or buy them at garage sales. I don't care about a discount for ingraved tools. But I would expect to buy a USED tool at alot less price than new. About half, maybe more.

I use my tools. The engravings don't effect the outcome. And there isn't anyone going through my boxes asking me who is this guy on every wrench.

I don't care who owned it, I OWN IT NOW.

I feel the same way . I could care less what's been engraved on the tool. I'd be skeptical of grinding though because they could possibly be stolen and I wouldn't want to support that.

 

[Skyline]

I think this poll makes an important comment on eBay sales.

Ebay sellers frequently omit information about previous owner markings on their used tools.

They artfully take photographs that omit the engravings or stampings or grinds, too. When a closeup of the tool is shown, it's often for the reason of not picturing an owner's mark that would be seen in a wider shot of the tool.

Then, when you receive the marked or defaced tool, they claim "It's no big deal." (Even though they go to great lengths to disguise those markings.)

Now we have an idea of how big of a deal it is, on average...it pulls down the price of a tool approximately 40%!

So if you pay $20 for a tool, and the seller doesn't disclose markings, you just lost $8 on the deal.

I sell a lot of tools on ebay, and ALWAYS let the buyer know if there is an engraving. I don't always show a specific photo of the engraving, as I rarely show more than one overall photo of the item. Personally, I avoid marked tools for my own collection, so I can empathize with a buyer who would be upset with a toll if this was not made clear prior to sale.

But my experience is that the average markdown is much less than 40%; probably closer to 20%. Just because it's 40% on here, does not mean that our population is a representative sample of the general tool buying population.

 

[Bolster]

Whoa, hang on...this survey isn't attempting to determine scientific significance, or to pull from a representative sample of the world's tool buying population. So let's not criticize this humble survey for not spending $50,000 to get a randomized, representative sample.

This poll is a mix of avid users and collectors, but likely more users than collectors. Collectors are even more harsh on markings. I know lots of user/collectors who pass on most owner-marked tools (unless they just can't find a missing item otherwise, or it's a ridiculous bargain). And the data above bears that out. My point is, this particular survey sample is probably more forgiving of markings than are collectors. So if we are talking collectible tools, the possibility exists that the required percentage off becomes greater than 40%, not smaller.

Now, any particular person can dismiss the data collected here and say, "That's not my experience." So what? One person's experience is an anecdote. A lot of people's experience is data. At this point we have data based on 71 responses from a pool of tool fanciers. I'd take the data of these 71 people, over a single person's guesstimate, any day.

What I'm saying is, it's unfair to criticize a survey as "not a representative sample," and then replace it with a single person's guesstimate as being more accurate...talk about an incredibly unrepresentative sample, a sample of one!

You could do a real study that went beyond preference (as in this survey) to actual behavior. Study eBay auctions and compare marked vs unmarked items, and see what they sold for. Then do a comparison. That's a lot of work but the results would be fascinating.

Until there's better data, however, I think the 40% number is useful. It helps me not overpay for marked tools, which are obviously a poorer investment than clean tools.

But until this survey, I had no idea how much worse an investment they really were.

 

[Monte]

I have a fetish for new tools so i wouldn`t buy a used tool at all , if i must i need a 98% discount and 99% for a marked tool

 

[Packard V8]

I buy tools to use. Engravings or stampings don't bother me at all. If I know the provenance, even adds to the value. Ground off is another story. I'd have to need it bad to buy one with grind marks on it.

thnx, jack vines

 

[GDA]

I buy tools to use not to look pretty if they are cheaper because some engraved them all the better.

+1 I have bought many like new condition truck brands this way and saved even more money than the going average used price.

I usually buff or polish off the marks.

 

[Bolster]

+1 I have bought many like new condition truck brands this way and saved even more money than the going average used price.

Yes--exactly! The point of this thread is to find out how much you should be saving. It's not a thread about whether marked tools are inherently good or bad. They're good if you want to save money, bad for resale value, and I believe you just made both of those points.

Maybe I need to run another survey that asks, "Do you buy marked tools or not, and are you fiercely proud of your decision either way?" so we can get the self-congratulation out of our collective system. This thread is about "How much less should you pay for marked tools," not an exercise in dissonance reduction.

The overwhelming majority (83%) understands the obvious fact that a marked tool is worth less in resale value. As for the 14 of you who say you would pay the same...I have some tools to sell you!!

 

[Packard V8]

the 14 of you who say you would pay the same

FWIW, the "same" for us is a bottom-feeder garage sale price.

"I have some tools to sell you!!"

not likely, because you collectors can fight among yourselves for the pristine, unmarked stuff. Most of us who work these tools don't sweat the initials, engravings or stampings. As long as it isn't stolen, it doesn't bother us at all. If we can get the back story, so much the better. Knowing the provenance adds to our enjoyment of using the tools. Carrying on the tradition of a guy who made his living with these for forty years makes us feel a connection when we pick it up.

thnx, jack vines

 

[babzog]

I'm not terribly fussed about engravings on used tools (and I often mark my own tools in case I lend them out). The tool is already used, hence earning at least a 50% discount off the new price (for most tools, anyway; if the discount is slim, I'd probably consider buying new). An engraving doesn't affect the tool's operation so I wouldn't expect any further discounting.

I'm not a collector or reseller therefore a given tool only has value to me for my intended use rather than resale or investment.

 

[Bolster]

...Most of us who work these tools don't sweat the initials, engravings or stampings. As long as it isn't stolen, it doesn't bother us at all....

Speak for yourself, man! I enjoy your use of the "royal we" nosism, but the majority of people who responded to this poll are USERS (myself included, surprise!) and 83% indicated that it DOES matter, as far as what we are willing to pay.

 

[Packard V8]

Speak for yourself, man! I enjoy your use of the "royal we" nosism, but the majority of people who responded to this poll are USERS (myself included, surprise!) and 83% indicated that it DOES matter, as far as what we are willing to pay.

It seems the royal we only can be used by those in the majority?

thnx, jack vines

 

[Bolster]

It seems the royal we only can be used by those in the majority?

LOL! By majorities and by royalty. I'm in the majority, so you must be a king!!

I dub thee Good King Packard, patron of all who use other people's marked tools!

PS: I just recalculated the average percentage off from the recent data (N=94), it's holding steady at 40% reduction for a marked tool.