Replies

1. 
   Knotscott | Jan 06, 2006 01:48am | #1

   It's fair to you! The 60% guideline is only a rule of thumb anyway. Actual prices can range from 40-75% of new in EC....it all depends on the circumstances and the machine...mainly whether or not there are buyers at any given time. The price has to be attractive to both parties, so let that be your guide. If it doesn't sell in a reasonable amount of time with a reasonable amount of promotion, that should tell you it's priced too high for current market conditions.

1. 
   GrGramps | Jan 06, 2006 02:04am | #2

   Thanks Scotty. I was in the process of posting the question again when your response came in. I couldn't find it in the forum and wondered if I had somehow deleted instead of posting.
   It seems traditional that bargaining takes place when selling used and I was wondering if I could use those additional costs in establishing the value. Nevertheless, your comment "The price has to be attractive to both parties" must be the final answer.
   Anyone else?

2. 
   Festool4 | Jan 06, 2006 03:36am | #3

   Brand name can make a huge difference, much like cars. For example, JET makes great table saws, but they are easy to find—most likely take off 30%. If you have a Incra sliding table saw, I bet you could add 30% and buyers would start a bidding war—they stop providing them in the states, so they are in high demand.

3. 
   nikkiwood | Jan 06, 2006 05:23am | #4

   It is a matte of what you local market will bear.

   I bought a Unisaw in 1977 for $900, ran it for 25 years and sold it for $1000.

   The buyer was tickled pink, since he was convinced the older models are better -- and I didn't try to dissuade him.............

   ********************************************************
   "It is what we learn after we think we know it all, that counts."

   John Wooden 1910-

4. 
   ohcomeon | Jan 06, 2006 05:51am | #5

   If you feel you got what you wanted out of a sale, and the buyer felt like they got what they wanted for what they think is a fair price, then both sides are served.  The only time this is violated is if someone could get the same product virtually anywhere else for less, in which case they are violated (and stupid).

   This is a frequent issue with Stihl chainsaws.  You see 029/290s going for $300+ on ebay all the time.  I can get a brand new one, w/ warranty and probably a few little goodies thrown in for under $350 and have it tomorrow.

1. 
   GrGramps | Jan 09, 2006 07:27pm | #7

   I think you pretty well summed it with your,
   "If you feel you got what you wanted out of a sale, and the buyer felt like they got what they wanted for what they think is a fair price, then both sides are served."
   We've made the deal and I have some new, used tools that one would have difficulty determining they were used. Could I have bought them cheaper? Yes. But they wouldn't look like these!
   Thanks to all who responded.

1. 
   BG | Jan 09, 2006 08:09pm | #8

   GrGramps,
   Just to answer your initial question....the general rule of thumb, as you stated, is a used tool is worth 60% of the 'replacment cost'. Replacment cost is defined as the price that you'd pay for the same tool today. So, I bought an $800 TS 3 years ago that now sells for $1100. The market value is about 60% of the $1100...or about $660. Shipping and tax is not included in this 'estimate'

5. 
   forestgirl | Jan 09, 2006 07:02pm | #6

   As mentioned above, there are so many variables!  However, in general, sales tax would not be part of any formula you'd use, IMHO.  Shipping?  Kinda depends I think.  For instance, I consider shipping part of the cost of a Grizzly tool, because that's the only way you can get one.  For Jet, Delta, Shop Fox, it's different because those tools are sold in store fronts, so shipping is an "extra."

   forestgirl -- you can take the girl out of the forest, but you can't take the forest out of the girl ;-)
   Another proud member of the  "I Rocked With ToolDoc Club" .... :>) 

1. 
   John_D | Jan 09, 2006 11:47pm | #9

   However, in general, sales tax would not be part of any formula you'd use, IMHO.

   Huh.  I often mailorder from Woodcraft because they don't charge sales tax.  Saving 8.8% on an order is pretty significant for larger purchases.

   I consider shipping part of the cost of a Grizzly tool, because that's the only way you can get one.

   My parents are in Bellingham, and I'm considering buying the 8" jointer in person.  I've heard it's pretty cool looking through their showroom anyway.My goal is for my work to outlast me.  Expect my joinery to get simpler as time goes by.

1. 
   forestgirl | Jan 10, 2006 07:15am | #10

   I understand ordering from X-company to avoid tax, just saying that as far as selling a used tool goes, I don't think sales tax would be part of some formula.  But then again, I wouldn't use a formula anyway, LOL.

   The Bellingham showroom is fun, I go up there every couple years or so.  Gotta be careful with your expectation level, though, because they do get backlogged and run out of stuff.  Last time I went up, it was with a friend who wanted to come home with several machines in the back of his pick-em-up truck, but they only had one or two items I think.  He was bummed.  I suspect they keep a pretty tight leash on their inventory.  Have fun!forestgirl -- you can take the girl out of the forest, but you can't take the forest out of the girl ;-)Another proud member of the  "I Rocked With ToolDoc Club" .... :>) 

1. 
   John_D | Jan 11, 2006 12:10am | #11

   Ahh, that is excellent information.  I shall call ahead.  Thanks!My goal is for my work to outlast me.  Expect my joinery to get simpler as time goes by.