OK, Old dog woodworkers

[lowell holmes]

Do you ever wonder what SWMBO will do with your tools if you depart this life.
Now, I am in good health and I don't think I will depart any time soon.

But, for the life of me, I can't decide what to do with my collection of shop and hand tools when I do pass.
What would she do if I did go suddenly, she has no idea of my collection and how to dispose of it in such an event.

Maybe we could devise a strategy of what to do in such a case. My best thought is to talk to my oldest son and tell him
what might be appropriate.

[Matt Schrum]

We have a local auction house that does large monthly auctions online. Long story short, there are a ton of tools every time and they generally go for a fair price (though we do live in a large metro area). The wife knows that if I keel over, that's where any tools the family doesn't want will go-- it's easier than personally listing and selling them and she will likely get most of what they are truly worth.

[Edwin Santos]

I don't know if you were looking for an assignment in making your post but I have one for you. Start by making a line item inventory of your tools with any information at all i.e. what the item cost or what you estimate it to be worth, what it is, what it is for, what kind of buyer would want it, etc.

I know from your posts that you have a fair number of specialty hand tools and vintage tools that the average person would not know.

There is inventory software that will help with this if you are inclined to a more tech oriented solution. Or you could just put pen to paper. Your survivors will find the information to be a godsend as they figure out what to do.

Alternatively, if you have a trusted friend or family member who is tool knowledgeable, you could designate that person as the go-to for your heirs to obtain guidance and help. Even then, I still think your notes and records will be a big help. Software will allow you to easily include images. This is a good thing to do for insurance purposes too. You probably found that out when the flood hit Galveston county.

I just did a quick search, and you might consider the Sortly app. If you have 100 items or less to inventory it's free, and if you pay $4/month, it allows for unlimited items. You can export to Excel or PDF, or back-up to other devices. People use these apps to inventory their wine, jewelry, baseball cards, collections of all types.

Good luck, old dog.

[Doug Dawson]

I don't know if you were looking for an assignment in making your post but I have one for you. Start by making a line item inventory of your tools with any information at all i.e. what the item cost or what you estimate it to be worth, what it is, what it is for, what kind of buyer would want it.

There is inventory software that will help with this if you are inclined to a more tech oriented solution. Or you could just put pen to paper. Your survivors will find the information to be a godsend as they figure out what to do.

Alternatively, if you have a trusted friend or family member who is tool knowledgeable, you could designate that person as the go-to for your heirs to obtain guidance and help. Even then, I still think your notes and records will be a big help. Software will allow you to easily include images. This is a good thing to do for insurance purposes too..

As detailed as possible, including receipts maybe. Most people (?) have already done this for their insurance inventory. I would also recommend putting it in an envelope labelled "To Be Opened Only Upon News Of My Death." Just to be safe.

[glenn bradley]

She would just go to your inventory and valuation file that you have for insurance. Memory sticks are cheap. I have pictures of machines, machine model plates, invoices and so forth. It all fits on a small memory stick. One in the fire safe, one offsite and the original on my PC which gets backed up regularly. Easy-peasy.

[Doug Dawson]

She would just go to your inventory and valuation file that you have for insurance. Memory sticks are cheap. I have pictures of machines, machine model plates, invoices and so forth. It all fits on a small memory stick. One in the fire safe, one offsite and the original on my PC which gets backed up regularly. Easy-peasy.

Just a caution, but there are many instances of fire safes not actually being fire-proof, i.e. not rated sufficiently to survive a full-on burn-to-the-ground house fire. Something like the Paradise fire would leave you with nothing but a box full of ashes and melted plastic.

The Cloud (or multiple Clouds) seems like the best option. Leave a password with your lawyer, in an envelope labelled "To Be Opened Only Upon News Of My Death." Just to be safe. :^)

There are multiple separate buildings in my compound, so I'm only concerned about a nuclear attack, in which case we've got other things to be worried about (and insurance probably wouldn't cover that anyway.)

[Stan Calow]

I go to a lot of estate sales looking for tools. I just talked to a widow who had no clue what the tools were worth, and was being "helped" by a neighbor to price things, who also had no clue. You are in best position now to help her by valuing them as discussed above, especially the big power tools. Sometimes its the circumstance that dictates the price, regardless of what you think the market value is. That is, its going to be hard to sell a Unisaw for anything but a pittance at an estate sale (with walk up buyers) especially if a willing buyer needs to disassemble and drag it up the basement stairs.

[Roger Feeley]

When I lived in the Kansas City area, the local woodworkers guild took on a project for a person who could no longer care for himself and had to give up the shop. They unloaded the shop back to the WW guild shop and spent weeks researching the values.

Then they had a sale for member only at listed prices.
Then the had a sale open to the public at listed prices.
Then it was sort of a Dutch auction thing until it was all gone.

the wwg got a commission and the family was delighted.

Maybe you could have some sort of executor group that would liquidate the stuff. It should be done by someone in the know. For instance, my ww compasses are Starretts. Those shouldn't sell for $.50.

[lowell holmes]

It looks like I have an inventory to make. I'm no looking forward to it. I have no idea about value to put on them.

I wonder if the Houston Woodworker's Club has something organized.

[Yonak Hawkins]

We have a local auction house that does large monthly auctions online. Long story short, there are a ton of tools every time and they generally go for a fair price (though we do live in a large metro area). The wife knows that if I keel over, that's where any tools the family doesn't want will go-- it's easier than personally listing and selling them and she will likely get most of what they are truly worth.

This is our plan, as well. I don't have the time or inclination to research, photograph and cost out all the tools and my wife doesn't have the time or inclination to advertise and make arrangements for all the visits for viewing and inspection, nor could she answer any questions potential buyers might have.

The auction house takes the photos, and operates the auction. The competing buyers know the value, and that's all that matters. The auctioneer takes a big chunk but, their service is worth it to my wife.

I have identified species of woods to help the auctioneer.

[Edwin Santos]

It looks like I have an inventory to make. I'm no looking forward to it. I have no idea about value to put on them.

I wonder if the Houston Woodworker's Club has something organized.

The 30 second way to establish the value of almost any tool is to put it into eBay and click completed listings in the search criteria. This will tell you what others have been paying for it. I just did this for a Lie Nielsen 62 LA Jack plane and I found out it should be worth about $250. Some items you will just know off the top of your head approximately what you would expect to pay for it.

If this task is a hassle for you, imagine how much harder it will be for your survivors. You're doing it for them, so think of it as a labor of love.

[Pat Meeuwissen]

It looks like I have an inventory to make. I'm no looking forward to it. I have no idea about value to put on them.

I wonder if the Houston Woodworker's Club has something organized.
Lowell, I saw that you posted in the sales section that you have an older model D4 I would love to pick your brain as I bought one second hand and am looking for some "TIPS". Couldn't reply there sorry to the original poster

[lowell holmes]

My saw is a Series 2000 with an extended table to the right. It is not for sale.. :)

[Tim Bueler]

Something I started doing some years ago...on larger purchases I take a sharpie and, in an inconspicuous place, write date of purchase, purchase price and depending on circumstance, who and where purchased from. I think I started doing this on home appliances and found it also handy on my larger woodworking machinery purchases. Really helps when itemizing for insurance.

[Jon Nuckles]

Lowell, I saw that you posted in the sales section that you have an older model D4 I would love to pick your brain as I bought one second hand and am looking for some "TIPS". Couldn't reply there sorry to the original poster

Pat,
For six bucks, you could post anywhere you want or, for a case like this, send a private message to Lowell. As an added bonus, you'd be helping to keep the Creek flowing!

[Lee Schierer]

She will probably sell them for what you told her you paid for them. :eek:

[Bob Glenn]

My biggest fear is that when I die, my wife will sell my tools for what I told her I paid for them.

[Stephen Tashiro]

Maybe we could devise a strategy of what to do in such a case. My best thought is to talk to my oldest son and tell him
what might be appropriate.

Do your executor a big favor and don't obligate him or her to deal with a lot of material objects in particular ways.

[Jim Andrew]

I plan to just give my machines to my kids. They can decide who gets what.

[Andrew Seemann]

I'm going to say two things that are not going to be well received, and probably denied outright.



Your tools are probably worth less than you think they are, possibly a lot less.
Getting maximum value for your tools takes a lot of time, money, and effort. Probably more than it is worth doing.


A couple years ago we had to clean out my dad's shop when he and his wife moved into the old folks' home. He had a nice shop and some pretty nice tools, with the standard complement of power and hand tools. He was very surprised and rather disappointed with what we were able to get when we sold the ones that my brother and I and his wife's kids didn't need or have room for. We could have maybe gotten more than what we did, but it would have involved storing things that none of us had room for, to maybe get an extra 10% in price.

He had what was to him a very nice table saw, a 1964 Craftsman with a 2 hp motor, but it had the original pot-metal web extensions and that gad-awful, finger-eating cast iron rip fence. The saw sold for about what he paid to have the motor rewound a few years earlier. Some of the more recent Deltas did better, but nothing was more than about half of new. I ended up donating a fair number of small power tools to the local high school shop after not getting around to listing them on CL for a year.

The fact is what we treasure often isn't valued by the general market as much as it is by us. And getting that value is a lot of work. Researching values takes time. Taking pictures and organizing takes time. Listing items on Craigslist and dealing with no-shows and constant lowball offers takes time. Selling on eBay takes time and effort to list and then pack and ship items. Getting assistance with any of this takes money.

Laugh if you will at the idea of selling a Starrett compass for 50 cents, but that kind of value isn't unrealistic depending on where and how it is sold. And if you have just gone through your 20th box of stuff or spent your fifth weekend in a row cleaning out a shop, you just might be ready for it to disappear for 50 cents.

Also bear in mind, that all of this will likely be done by people who are not only grieving, but also dealing with all the other aspects of settling an estate, like lawyers, potential probate, sending death certificates to credit card companies, etc. If your spouse predeceased you, there could be collections of Hummels, Lionel trains, Waterford (all of which have values that have cratered in the last 10 years) to get rid of as well, along with your residence and all its contents. All of which may need to be done under a deadline for a sale or the limits of how much time your kith and kin can take off of work.

All those bargains and steals we like to brag about, like snagging a Lie Nlelsen #4 at an estate sale for $15, could easily be our tools someday.

[Rod Sheridan]

Lowell, I would discuss it with your partner.

Diann knows that my shop machines and tools are to go to my daughters or friends for free if I predecease her.

It's good you're thinking of this in advance, I placed it in my will.............Rod.

[Malcolm Schweizer]

I have been compiling a book showing images of each tool, and their estimated values. It's not only in case something happens to me, but also for insurance purposes if something were to happen to the shop. I highly recommend everyone do this- at a very minimum, take photos of everything for your insurance. My will has in it specifics about my tools- basically my brothers and my best friend get to pick what they want, with a couple of very special tools designated for each to remember me by, and also their children can pick what they want, and the rest go to sale. I am not one of these that cares what happens to their tools after they die- it's really more about alleviating the burden from my wife. She actually tells me often that her biggest worry if something were to happen to me (other than, of course, losing me) is having to deal with all my "stuff."

I recently lost my mom and my father had passed a couple of years prior. Fortunately, they had a living trust, and also my dad had very carefully designated what pieces went to which son, and the rest we very peacefully agreed on who got what. I highly recommend folks to get a living trust. It makes things SO much easier on the surviving family.

[lowell holmes]

I will start a tool list with suggested values and keep it in a safe place she knows about . I am in good health and expect another 20 years, but who knows.

[James Brown]

This thread reminds me of a Craigslist interaction I had several years ago. I bought a lot of tools from the brother of a deceased woodworker. We arranged to meet at his brother's basement shop. He had no idea what he had, and I was apparently the first buyer who came by. Everything was just the way the deceased gentleman had left it.

I was able to show the seller current retail prices on a lot of the stuff that was there, so we were able to agree on fair and reasonable prices for what I was interested in. He was trusting but not gullible, and I try to deal honorably with people in transactions like this. Some of the stuff he thought might be junk wasn't, and vice versa. I stayed a while and helped him sort through some of it so he could maximize the return as he sold the rest of it off.

Some of those tools, and some of those half-finished projects, really got to me. The guy seemed interested in hearing what his brother had been doing down there, and he seemed moved to hear me speak admiringly of the guy's craftsmanship on some of the works in progress.

I'm incredibly fortunate that my wife's an avid woodworker (among the million reasons I'm fortunate) ... she'll keep using the tools when I'm done with them!

[Malcolm Schweizer]

By the way, I just laughed at myself because when I read "Old dog woodworkers" I immediately felt it pertained to me. I don't know what that says about my perception of myself. :-)

[lowell holmes]

I think I invented the phrase, so it tells you about my self perception.

OBTW, there other old dogs out there. Maybe we could form a club or something.:)

[Jim Koepke]

Your tools are probably worth less than you think they are, possibly a lot less.
[edited]
Some of the more recent Deltas did better, but nothing was more than about half of new.

With the exception of tools bought new, most of my tools were bought at below the current market prices when they were purchased. My feeling when buying tools is to pay less than it could bring if it was flipped on ebay. Sometimes my judgement is wrong.

Hopefully some of my grandchildren will become interested in woodworking. My wife has a little idea what was paid for most of my tools. It is my old coin collection that worries me more.

For machines, half price of new is about standard. The good part is on quality equipment where inflation raised its price by enough so half of the current price is more than a machine's original cost.

jtk

[Pat Meeuwissen]

Pat,
For six bucks, you could post anywhere you want or, for a case like this, send a private message to Lowell. As an added bonus, you'd be helping to keep the Creek flowing!
Even sending a PM is not an option.

[Jon Nuckles]

Even sending a PM is not an option.

It is if you pay the $6 to become a contributor. Please consider doing so. This is a great site and it will go away if we do not support it.

[lowell holmes]

I have no illusions about the value of my tools. They are mostly rust free. When I inventory my tools, I will assume 25% value.

[Stewie Simpson]

Lowell; imo, it matters naught after your dead and buried in the ground.

[lowell holmes]

It will not matter any more, but I don't want my wife to have to deal with it.
A simple inventory would allow her to know how to dispose of them and not worry about it.
OBTW, I am in good health and don't expect to depart any time soon.

[Edwin Santos]

I'm going to say two things that are not going to be well received, and probably denied outright.......


+1, excellent advice here. The one thing I might add is that it is far less stressful for your grieving survivors/heirs to follow instructions as opposed to making decisions, especially if those decisions involve unfamiliar subjects..

[Tom M King]

It would take me at least a year to inventory tools, if I didn't have anything else to do. I haven't stopped buying tools for 45 years. Then there is also the lifetime collection of a machinist friend that left them to me. I haven't even moved that stuff here yet. I don't consider them an investment, but use them for income producing work.

I asked my Wife if she would like for me to stop working, and inventory tools, or keep making money. She said the inventory can wait.

[Yonak Hawkins]

It will not matter any more, but I don't want my wife to have to deal with it.
A simple inventory would allow her to know how to dispose of them and not worry about it.
OBTW, I am in good health and don't expect to depart any time soon.

lowell, I believe the on-line auction would be the easiest and fastest route for your wife. She would get maybe 70% of the true value of your tools and materials but that value would be true and her efforts would be quite minimal .. and so would yours.

[James Pallas]

I bought my tools for me to use and enjoy. They will go to my daughter and SIL. Many have already gone. They know that most all I have is the good stuff. The tools will be theirs to do what they please. I won't be worrying about the tools anymore. No sharpening, rust protecting loosing or any of that. I'll have a new set of the best that never dulls, rusts or gets lost and have every tool I need or ever needed right there when I need it. I'll also have an endless supply of the best materials.:)
Jim

[Rod Sheridan]

By the way, I just laughed at myself because when I read "Old dog woodworkers" I immediately felt it pertained to me. I don't know what that says about my perception of myself. :-)

Malcom, I think that classifies you as self aware:D

Regards, Rod