Author Topic: Pricing used tools  (Read 729 times)

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Offline Richard/RMW

  • Posts: 2016
Pricing used tools
« on: April 20, 2020, 02:11 PM »
Looking for input on selling lightly used tools. I was thinning down the fleet before the world-altering events and put 5 items up for sale, 2 were unique and sold quickly but the other 3 are drill/drivers. I think I offered them for ~20% below current cost and received limited interest.

Any thoughts on appropriate pricing for lightly-used/like-new battery tools?

It's not a need-to-sell situation, but I did sell the installers set which was my prime attraction to the centrotec system so the drivers were my only Festool cordless tools, got moved out of the shop and are now gathering dust. FWIW I prefer my trusty DW 20V platform & added the Milwaukee installer driver and a host of WHIA/WERA ball detent bits to replace the installers kit and I love it.

Thanks,

RMW
As of 10/17 I am out of the Dog business and pursuing other distractions. Thanks for a fun ride!

Offline six-point socket II

  • Posts: 1295
  • formerly @the_black_tie_diyer
Re: Pricing used tools
« Reply #1 on: April 20, 2020, 02:16 PM »
Hi!

the quality tools/stuff, I auction off, rather than putting them out with a price tag.

Kind regards,
Oliver
« Last Edit: April 20, 2020, 02:25 PM by six-point socket II »
Kind regards,
Oliver

"... . Say yes to stuff, and it will take you interesting places." - Anne Richards, CEO Fidelity International

Offline xedos

  • Posts: 333
Re: Pricing used tools
« Reply #2 on: April 20, 2020, 04:24 PM »
Richard - are we talking Festool here, or something else ?  20% off of that should get you a buyer in a reasonable time period when that certain someone has decided on what you have, but just can't bear to pay retail.  Or care about warranty.  Presumably yours is mostly used up ?

20% off of ryobi or hitachi will get you the stink eye from most bargain hunters - and you'll likely never sell them.  Likewise 20% off of DeWalt probably won't bring out the punters either.

Six Point - do you place a reserve on your auctions ?   How do you arrive at that number ?

Offline Richard/RMW

  • Posts: 2016
Re: Pricing used tools
« Reply #3 on: April 20, 2020, 08:42 PM »
Sorry, yes 3 Festool Drill/Drivers. The 12 was a recon, other 2 are out of warranty. The 18 has around 20 minutes of use on it.

I have to take another look, but I believe they are priced +/- 80% of new. Just noticed I didn't show the chargers for the T12 and TXS in the photos, but they are included. I'll clean up the descriptions and repost them separately.

Thanks.

RMW
« Last Edit: April 20, 2020, 08:45 PM by Richard/RMW »
As of 10/17 I am out of the Dog business and pursuing other distractions. Thanks for a fun ride!

Offline neilc

  • Posts: 2825
Re: Pricing used tools
« Reply #4 on: April 20, 2020, 10:28 PM »
Those were in great shape.  But I wonder if 20% off is still a little high, even for Festool's with no warranty.

it all depends on the item and finding a buyer that WANTS it!  I was surprised but I sold several USA made Porter Cable tools back over the holidays and was amazed at the prices they brought.  Corded, in great shape.  A belt sander i think went for over $325.  It was the classic gear-driven 503 'Locomotive'.  I also had a small worm drive in a metal case.  It went for maybe $225.  I think both sold for more than I paid for them over 20 years ago.


Offline ryanjg117

  • Posts: 247
Re: Pricing used tools
« Reply #5 on: April 21, 2020, 02:34 AM »
I think both sold for more than I paid for them over 20 years ago.

Probably not once you adjust for inflation. Only Festools, thanks to the annual price increases, will actually gain value as you use them.  [wink]

Offline gunnyr

  • Posts: 228
    • Compass Custom Creations
Re: Pricing used tools
« Reply #6 on: April 21, 2020, 05:56 AM »
Even for Festool I'm reluctant to pay 80% of retail.  Most on the FOG also want the buyer to pay shipping, this gets the actual price up close to retail.  So a $500 tool ends up at $450.  For that amount I'd rather buy new and have the full warranty and know that my tool is complete. 

Fact is that I have all the tools that I NEED.  What I'm after now is tools I WANT.  On auction sites I limit my bid to about 50% of retail including shipping and fees. 
Semper Fi,
Jeff

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Offline CeeJay

  • Posts: 107
Re: Pricing used tools
« Reply #7 on: April 21, 2020, 07:07 AM »
I recently bought a used TS55 in systainer with 1400mm track. Good condition, 2 years old. Well used but great order. Bought from a cabinet maker who switched from corded to cordless. I paid 65% of retail which I was happy with.

I also just sold a 1st gen CXS, in systainer but only 1 battery and no charger, in good condition, for 35% of retail.

Hope that helps.


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Offline Hawkeye0001

  • Posts: 29
Re: Pricing used tools
« Reply #8 on: April 21, 2020, 12:34 PM »
I usually buy all my tools used and regularly resell them for something else later on or if I don't like them (rare occurrence). When they're in good condition I list with an asking price approx 75-90% of the cheapest retail price and expect to come out at about 70-85%.

While used Festools generally hold their value remarkably well and to this day I yet have to lose money on any used Festool item tool I've ever resold (!!!) there's two things that I found are total shelf warmers:
- batteries, even if brand new and in original packaging and
- drill drivers
Due to buying used and experiencing virtually no depreciation any more I still sell at purchase price at worst but it takes a lot longer than anything else.

Pro Tip: I sell all items separately. While I paid 125€ for my used T12 (and probably would've sold out for that money again) I sold
- the charger for 35€
- the two batteries for 20€ each
- the Systainer for 35€.
That leaves me with 15€ to turn a profit on the drill driver itself, which went for another 90€ eventually  [wink]
« Last Edit: April 21, 2020, 12:39 PM by Hawkeye0001 »