people selling "entire" shops


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In my search for a good used jointer, I have come across multiple listings on craigslist for "whole shop" sales.  This is typically either from someone retiring from the hobby or retiring from their business.  In each case I have seen, they ask for ridiculous amounts of money.  Well, at least that's my opinion and was wondering what others thought.  Keep in mind, these types of sales want to sell the whole thing -no parting out at all.  And they typically involve older equipment.  I just came across one who wants $20,000: http://sanantonio.craigslist.org/tls/5153660298.html 

Who knows, perhaps all of that stuff adds up to $20,000, but honestly, who cares?  Who wants to buy -exactly- what this person has?  I would expect a a used tool reseller to pay maybe $5000 for all of that, if that.

Another example: We recently had a woodworker (professional) in our local club announce that he's retiring and wants to sell his entire shop equipment, for the low low price of $45,000.  I hope he can get it, but really, who has that kind of money lying around and doesn't already have their shop outfitted?

Maybe I am way off base, but I just don't get the economics of these scenarios.

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He may get lucky and find some one who will by it as is thinking they can sell it of piece meal and make a profit.  But in my uneducated guess I think it is going to be hard to sell it as it is to one hobbies.  To much going on and no real quality to what is there for one type there of hoppy.  He would probably get close to his asking if he let people pick and chose.  They seem to be all bench top tools which is okay.  just for fun, if you figure there is $300 worth of equipment in each picture, which for the most part there isn't but if there was thats still only $7200.

Just my worth nothing opinion:unsure:

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One of my best friends died a few years ago and he had a lot of nice wood working tools in his shop. I helped his widow sell off the entire shop full of tools at a "garage/wood working shop" sale.

It took me about two weeks just pricing things. I priced the "used but very good tools" at about half of current new price. I priced the lesser "more used" tools at one third of new. And the better "almost new" tools at two thirds of new. And of course there were the "very used" tools that I just looked at and ask myself what I would pay for that tool if I wanted or could use it. Some of them, like eight old, rusty hand saws, were priced at $2.00 ea.  and sold the whole bunch for $20.00!

For the most part we did very well and didn't have to negotiate on prices too much. A bunch of the buyers were friends and relatives who wanted to be fair with the lady anyway but, we had a few strangers that went along with the sticker prices too.

I feel that we did a lot better than having an auction where everyone is looking for a bargain and don't really want or need  the tools anyway.

I have no idea what the total sale amounted too (and I really don't want to know)  but the widow seemed to be happy and got the shop cleaned out too. (She wouldn't even go in the door of the shop)

I have often wondered about myself and others getting fair prices for all the investment of shop tools after we are done with them. I know that some want to leave their stuff to children or close friends and relatives but, ask yourself "Do they want or need your tools?" I guess I'm just saying "plan ahead".

 

Rog

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I have often wondered about myself and others getting fair prices for all the investment of shop tools after we are done with them. I know that some want to leave their stuff to children or close friends and relatives but, ask yourself "Do they want or need your tools?" I guess I'm just saying "plan ahead".

 

Rog

Yes i am facing this now.  My dad collected model trains.  He has literally thousands of items.  Some items are worth thousands of dollars, some a few bucks.   He started buying as a young boy in the 1950s.   Due to a bad car accident he can't use them anymore and my mom could use the money to help pay for his care.  But selling them is such a monumental task it is hard to even get started.  I've toyed with selling some of the bigger ticket items just to get the ball rolling. 

Edited by Guest
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I was a professional mechanic for many years and my neighbors are in awe of my Snap-On, Mac, Matco, and Cornwell very expensive tools. I came to terms many years ago that my tools were worth pennies on the dollar or nothing to anyone but me. They all have life time guarantees but I will have them forever and then my son will get them. My neighbors know who to come to when they need help or need to borrow a tool. I don't mind it's just nice to be needed. 

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I was a professional mechanic for many years and my neighbors are in awe of my Snap-On, Mac, Matco, and Cornwell very expensive tools. I came to terms many years ago that my tools were worth pennies on the dollar or nothing to anyone but me. They all have life time guarantees but I will have them forever and then my son will get them. My neighbors know who to come to when they need help or need to borrow a tool. I don't mind it's just nice to be needed. 

when I left the mechanic life,  I sold off some of the specialty stuff.  Brake kits,  pressure testers,  bearing pullers,  bushing clamps,  just stuffy like that, all snap-on.I was surprised that everything sold for asking price which I started at 60% of retail. 

I still have a KRL box stuffed full and my kids will eventually inherit them also.  

Bank on topic.  That ask is really rediculous.  I wouldn't give 1/5 of that. 

Edited by Brendon_t
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Putting aside the actual value of these examples (I did not intend to make this about how good/bad someone's shop is), the thing I wanted to point out is that it's damn hard to sell a big lot of anything. Think about another completely made up example:  do you think there's a market for -all- of your clothes in one purchase.  Probably not.  These sellers would do themselves a favor by selling item by item or just donating it to a school or charity. 

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To me it depends. The guy selling the shop seems to be more of a restorer then woodworker.

so if he's selling a entire shop including drill bits, sand paper, glue etc etc that stuff adds up quick.

For someone who is starting out in that sort of business it would be a turn key start up for them.

For someone just wanting to buy a jointer or drill etc. No it wouldn't meet their needs.

drill bits, router bits, and sand paper, paint etc isn't exactly  cheap when bought in the quantities that this guy has.

 

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Yes i am facing this now.  My dad collected model trains.  He has literally thousands of items.  Some items are worth thousands of dollars, some a few bucks.   He started buying as a young boy in the 1950s.  

Check with Traincollectors.org, Model Railroader (if they don't want them, they can at least quote you a rate on the ad), collector's weekly (dot com), and maybe the Golden Spike museum.  If nothing else, they can point you in better directions.

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To me it depends. The guy selling the shop seems to be more of a restorer then woodworker.

so if he's selling a entire shop including drill bits, sand paper, glue etc etc that stuff adds up quick.

For someone who is starting out in that sort of business it would be a turn key start up for them.

For someone just wanting to buy a jointer or drill etc. No it wouldn't meet their needs.

drill bits, router bits, and sand paper, paint etc isn't exactly  cheap when bought in the quantities that this guy has.

 

I can see the draw for someone wanting to walk into a turn key business or hobby shop to buy everything as a lot.  I just feel like anyone ready to throw down the cash will do research and realize you are  mostly paying for the convenience factor because most whole shop ads I come across are selling marginal equipment, for a huge premium.

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I can see the draw for someone wanting to walk into a turn key business or hobby shop to buy everything as a lot.  I just feel like anyone ready to throw down the cash will do research and realize you are  mostly paying for the convenience factor because most whole shop ads I come across are selling marginal equipment, for a huge premium.

Exactly. I bet I'd have a hard time selling my shop for 20 grand, and I've got loads of higher end stuff. 

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In my search for a good used jointer, I have come across multiple listings on craigslist for "whole shop" sales.  This is typically either from someone retiring from the hobby or retiring from their business.  In each case I have seen, they ask for ridiculous amounts of money.  Well, at least that's my opinion and was wondering what others thought.  Keep in mind, these types of sales want to sell the whole thing -no parting out at all.  And they typically involve older equipment.  I just came across one who wants $20,000: http://sanantonio.craigslist.org/tls/5153660298.html 

Who knows, perhaps all of that stuff adds up to $20,000, but honestly, who cares?  Who wants to buy -exactly- what this person has?  I would expect a a used tool reseller to pay maybe $5000 for all of that, if that.

Another example: We recently had a woodworker (professional) in our local club announce that he's retiring and wants to sell his entire shop equipment, for the low low price of $45,000.  I hope he can get it, but really, who has that kind of money lying around and doesn't already have their shop outfitted?

Maybe I am way off base, but I just don't get the economics of these scenarios.

Thoughts:

1 - the owner is fishing.

2 - the owner is a scammer. (less likely)

3 - the owner, as with a sale I went to a couple of months ago, things things in good shape are still worth half of MSRP.  It's a common theme.  (Went to the sale by a widow who priced things like that.  I didn't mind helping her on a few smaller items but my wallet has its limits.)

My response is always to wait.  Sooner or later things will either show up at a personal property auction, yard sale, or will get broken up.  All these allow for better pickin'.

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