Author Topic: Why the big tool sell off?  (Read 2293 times)

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Offline mackenzie

  • Posts: 181
Why the big tool sell off?
« on: September 19, 2019, 11:58 AM »
Is it just me or has anybody else noticed the massive tool sell off that's been taking place in the classified section this year especially?  I've never seen so many tools being sold off.  What do you think?

If any members are reading this post who have recently sold off some tools and feel comfortable sharing the reason why I'm very interested to know.  I've been hearing of an imminent down turn and just wonder if those of you are have a business have seen a decline forcing a change of circumstances.

I've wanted to post this topic for months and it seems the tool sell offs are getting even more frequent.

Thank you

Offline Richard/RMW

  • Posts: 2016
Re: Why the big tool sell off?
« Reply #1 on: September 19, 2019, 12:26 PM »
Interesting questions, thanks for posing it.

I haven't sold any of my Festool but I did dispose of some older tools on eBay, stuff I haven't used in years like a corded Milwaukee Sawzall and 1/2" Magnum drill, a Veta Pro Pack bag and DeWalt laser level.  The buyers got great deals, nothing was bid up much beyond my minimum.

In my case I'm a DIY'er and tool hoarder, finally admitted I didn't need the stuff. I have cordless versions of the tools I sold and the bag/laser were leftover from when we were building the house. Figured I'd dispose of them and hold the $$ in the PayPal account as fun money whenever I found something I couldn't live without.

I'm looking at purging a lot of unused Starrett machinist tools and fly fishing gear also, even a couple bamboo rods, collectible reels and an AK Best tying vise that are gathering dust.

Separately, I will admit that I'm expecting a downturn in 2020 and I've curtailed my splurging on tools. I'm also in a general purging mode after over-acquiring for the past 10 years and hitting my mid-50's.

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

Offline ProCarpenterRVA

  • Posts: 110
Re: Why the big tool sell off?
« Reply #2 on: September 19, 2019, 12:43 PM »
I have a one year rule. If a tool hasn't been used, or is under utilized in a year, it has to be a tool I am sure I'll need to work with in the future. If not, I put them up for sale.

Sent from my Pixel 3 XL using Tapatalk

Offline Mortiser

  • Posts: 61
Re: Why the big tool sell off?
« Reply #3 on: September 19, 2019, 01:02 PM »
Baby-Boomers have finally started downsizing. More a matter of age and realizing you (or your kids) don't want to be burdened with things you are no longer using or using that much.

Offline vkumar

  • Posts: 504
Re: Why the big tool sell off?
« Reply #4 on: September 19, 2019, 01:59 PM »
I have sold a bunch of tools and will sell more.  I am trying to create some useful space in garage to do actual work.
I wish I had followed @ProCarpenterRVA advice -- I wouldnt be in so much trouble right now.  A Wadkin 12" industrial table saw needs to go next.  Next year's economy does not figure into my sales.
Vijay Kumar

Offline Alanbach

  • Posts: 565
Re: Why the big tool sell off?
« Reply #5 on: September 19, 2019, 02:18 PM »
My situation is similar but for me I think it the opposite of anything influenced by a downturn. Things have been good, and as such, I have acquired some upgrades. At this point in my woodworking / tool collecting I have quite a few duplicates and I am running out of room. So I try to sell two tools every time I buy one. I am sixty so I qualify as a baby boomer although my situation is a little different than @Mortiser describes. My kids are grown and buying houses and really settling into their adult lives. As such I am back building more stuff than I have in years. More projects means more fun and more fun means more desire to buy new tools and more new tools means more duplicates that I might not use and you know what that leads to. I would venture a guess that the vast majority of active FOG participants are older well established individuals, especially the home hobbyist part of the group and a lot of those guys have a lot in common with me, duplicates.

Offline Svar

  • Posts: 2085
Re: Why the big tool sell off?
« Reply #6 on: September 19, 2019, 02:20 PM »
I don't see any unusual tool sell off.

Offline Alanbach

  • Posts: 565
Re: Why the big tool sell off?
« Reply #7 on: September 19, 2019, 02:32 PM »
Also, on the tradesman / contractor side of things what I see is super high demand for all kinds of construction trades. To be fair, I am in Houston (almost two years Post Harvey) bit I still can’t imagine any bored cabinet makers, finish carpenters, etc..

I get the concerns about a slowdown in the economy, as globally the early signs are upon us. However, with the second interest rate drop just announced and the mortgage rate markets responding aggressively I can’t imagine too steep a slowdown negatively affecting professional woodworkers. Again, I am in Southeast Texas and things have stayed pretty good here.

Offline grbmds

  • Posts: 1989
Re: Why the big tool sell off?
« Reply #8 on: September 19, 2019, 03:14 PM »
Nothing mysterious for me. Over the last several years I have bought some Festools that I just don't use or find that I use them so rarely I can find another alternative way to do the job. I have never bought a Festool that was a bad tool, just some that were bad decisions on my part to buy for what I do in my shop.

Offline RKA

  • Posts: 1954
Re: Why the big tool sell off?
« Reply #9 on: September 19, 2019, 04:19 PM »
Honestly, I read these forums almost daily and haven't noticed what you are talking about.  Seems like the usual flow of buy and sell in the classified here.  A few have indicated they are retiring or leaving the hobby, hence the mass sale by individuals.  But that's it.

As far as your theory about a slowdown, honestly I think it might be your perception or maybe a regional thing given the uncertainty around the EU departure at the moment.  Consumers can be fickle and given all the news this year and yet another impending deadline, maybe they are keeping money in their wallets to see how everything shakes out before committing to major home improvement projects?  Tradespeople in the UK might be able to confirm or deny your theory.

Offline jobsworth

  • Posts: 6190
  • Festool Baby.....
Re: Why the big tool sell off?
« Reply #10 on: September 19, 2019, 10:39 PM »
Everytime Festool comes out with new models such as their CT people have to have the latest and greatest.

Some times people will buy a tool use it for a job then sell it.

Others will buy a tool find it doesnt meet their expectations and sell it.

Im considering selling somethings. Im waiting to have enough to put in the classifieds. Just want to up grade change somethings get rid of somethings.

Offline Rob Z

  • Posts: 987
Re: Why the big tool sell off?
« Reply #11 on: September 22, 2019, 12:38 AM »
Closed business and semi-retired.  We "downsized" and I am making do with about 1/3 of previous shop space.  Drastic measures have been underway to get rid of stuff.  I have sold hundreds of tools, mostly through Craigslist.

No concerns about anything other than whether the Nationals squeak their way into the playoffs. [big grin]

Offline HowardH

  • Posts: 1261
Re: Why the big tool sell off?
« Reply #12 on: October 01, 2019, 11:01 PM »
I have been horrible about tool sell offs.  Done it a couple times for different reasons.  Now I have started collecting again over the last 6 months including a SS, a couple of Mafells, an OF2200 and various jigs.  Now I realized I need a bandsaw again so I'm leaning towards a Hammer 3800.  I swear this time nothing will be sold.  I'm tired of losing money. 
Howard H
The Dallas Texas Festool Fanatic!

Mark Twain:  "I didn't attend the funeral, but I sent a letter approving of it." "If you tell the truth you don't have to remember anything."

mft1080, P1cc, MFT/3, T15, RO150FEQ, MT55cc, RTS400, CT22, CT36E, 800, 1080, 1400, 1900 rails, OF 2200, OF1400, CSX, C18, Vecturo, Qwas dogs, Parf Dogs, Zobo's, Syslite Uni, CMS GE with router plate. Mafell DDF40, Sawstop contractor, PM 1500

Offline WillB

  • Posts: 25
Re: Why the big tool sell off?
« Reply #13 on: February 16, 2020, 10:40 PM »
i am a tool hoarder for sure
and I have bought into the ONE TIME TOOLS by BCT and WPeckers. 
Better buy it, u only have one shot...but, many I never had time to use, time to learn, or just not a strong need for it, or never pursued the project I had in mind for them...
like others, space is always limmited, sell what I am not using, or have no plans in the recent future to use.