The price of used tools in Chicago...

[Ben Martin]

Has anyone in Chicago (or other big cities for that matter) noticed that people pay ridiculous prices for used tools? I check the CL all the time and rarely see many good tools, let alone, ones that warranted the prices being asked. I was watching two local auctions on eBay recently. One was for an older Delta Drill Press, I had researched it and found that it sold new for around $250, it sold for $200. Reports on SMC were that a good price would be in the $125-150 range. The second auction that I was watching, was for a used Grizzly jointer, this thing was all rusted up and no information was given besides it being a used Grizzly jointer. I inquired and found it to be a, so I went on Grizzly's site and checked that a new 6" jointer was going for $340 minus shipping. This auction ended for $300. Do people just not know the prices of the new tools that come with a warranty? Or is the dream of getting good ole' iron just to tempting? Something just doesn't add up here and I must be missing something...

[Matt Meiser]

At auctions, definitely. I went to one where Grizzly dust collectors sold for more than new, even factoring in shipping. Other stuff went really high too, but those stuck out in my mind.

[Bill Huber]

I see it on Ebay all the time, people will pay more on line with shipping then they could just go to the store and buy it.

I think it has something to do with the heat of the battle or something like that.
I have gone to actions and seen a glass jar full of rusty nails and screws go for $7, this was just a 1 qt. jar.

Now I have also noticed that when ever I go to sell something no one wants it and the price drops like mad.

[Mike Heidrick]

It goes both ways. Sold my '93 Delta Hybrid 36-752 for $850 in Chicago and a guy drive two hours one way to come get it. A few months latter an older PM66 was there in 3 phase for $500 with the extra long industrial Bies (longer than 52") and two out feed tables. Either way I like having access to a larger city to sell and buy from. St Louis and Chicago are both pretty accessible from here if the deal or sale is right. Disposable income can vary in a metro area significantly as some rare skills are in high demand that might not typically be required in another smaller market.

[Rob Will]

Perhaps people see value in recycling something used rather than buying new (?).

Rob

[Pat Germain]

I see the same thing in the greater Denver area. I've been looking for a large used band saw. After weeks of searching, I have found exactly one. It's an almost new Grizzly 19". Great. The guy wants $1,000 dollars for it and it lists for just over $1,100. Not so great.

I had the same experience when looking for a used jointer last year. I found exactly one. It was a used DJ-20, but again, the guy wanted about $50 less than the list price for a new example.

If guys can get list price or above for a used tool, great. But I'm not going to oblige them.

[Jim Becker]

Buying and selling is just a game that different people approach, well...differently. What you or I might not be willing to pay is immaterial if someone else is agreeable to the price. And look at what happens in auctions...folks will pay above new retail for things that are used, especially after shipping and "handling" is added on... ;)

[James Hart]

Supply and demand play a very big role in market prices. During times when housing or used cars are scarce, the prices skyrocket.

When you describe 'lloking forever and finding exactly one', you're describing a situation where lightly used product will maintain high resale.

Given the high shipping costs of some of the things we all buy, and the possibility of a less-than-perfect unit, or shipping damage, finding a lightly used unit that you can test, pay cash for, and have in your shop that day is pretty attractive.

Jim

[Ben Martin]

Perhaps people see value in recycling something used rather than buying new (?).

Rob

I like to be as sustainable and "green" as anyone out there. But when you pay more for lesser of a product, that is just bad investing.

I paid almost $6 a sqf for strand bamboo flooring, but it offers an advantages compared to other flooring on the market.

I could see paying these prices for really old tools, but the '80s and '90s won't go down in history as the pinnacle of tool quality and craftmanship...

[Rob Will]

I like to be as sustainable and "green" as anyone out there. But when you pay more for lesser of a product, that is just bad investing.

I paid almost $6 a sqf for strand bamboo flooring, but it offers an advantages compared to other flooring on the market.

I could see paying these prices for really old tools, but the '80s and '90s won't go down in history as the pinnacle of tool quality and craftmanship...

Yeah, me too. I like to buy old American made iron but a cheap import never gets better with age. I too am amazed that people would pay big prices for this stuff.

Rob

[Jesse Cloud]

I'm surprised. I know what you mean about E-Bay, but Craigslist is usually pretty reasonable around here....

[Bob Rufener]

The last time I was in Chicago with my wife and another couple to see "Wicked" we stopped at a restuarnat for lunch. Having to wait for 1/2 hour for a table, I offered to buy a drink. We each had a bloody mary and the tab was $38.00 for 4 routinely made drinks that would have cost about $15 to $20 most other places. I guess the point that I am making is that "EVERYTHING" is expensive in Chicago.

[Pat Germain]

I guess the point that I am making is that "EVERYTHING" is expensive in Chicago.

Furthermore, what you don't realize is the word "Chicago" is a licensed trademark soley owned and controlled by the city of Chicago. Those of us who have used the word here on SMC will soon receive a bill for doing so. And you thought those Bloody Marys were expensive!

[Jim Becker]

The last time I was in Chicago with my wife and another couple to see "Wicked" we stopped at a restuarnat for lunch. Having to wait for 1/2 hour for a table, I offered to buy a drink. We each had a bloody mary and the tab was $38.00 for 4 routinely made drinks that would have cost about $15 to $20 most other places. I guess the point that I am making is that "EVERYTHING" is expensive in Chicago.

That would have been a bargain in NYC, Bob... ;) Or London. Or Moscow.

[J. Z. Guest]

The bigger the city, the more suckers are in it.

I haven't found it to pay to buy used either. When I bid in an auction, I just bid my max at the latest moment that is reasonable, and let it go. If I don't win, I don't win. I don't feel bad either, because sooner or later, that sucker is going to realize he shafted himself by not doing his homework.

ebay has changed their rules again, and it is becoming less and less friendly to those who don't sell a LOT of stuff there. They're getting a little too big for their britches there, in my opinion.

[David G Baker]

I was in the market for some used farm equipment and started going to local auctions and found that the over retail price holds true in rural Michigan as well. I have found that garage sales have worked much better for me, they just take longer to find what you are looking for.

[William Nimmo]

Lots of so called business men on Craigslist.
recently a guy was selling an 18 v makita 4 pc set for the great price of $550.
sells new everywhere for $399.
lots of attempts to get rid of crap for stupid prices..
But check it everyday...once in a while the new boyfriend wants to sell the exhusbands tools quick.
Got a few nice deals that way.

[Adam Cavaliere]

Has anyone in Chicago (or other big cities for that matter) noticed that people pay ridiculous prices for used tools? I check the CL all the time and rarely see many good tools, let alone, ones that warranted the prices being asked. I was watching two local auctions on eBay recently. One was for an older Delta Drill Press, I had researched it and found that it sold new for around $250, it sold for $200. Reports on SMC were that a good price would be in the $125-150 range. The second auction that I was watching, was for a used Grizzly jointer, this thing was all rusted up and no information was given besides it being a used Grizzly jointer. I inquired and found it to be a, so I went on Grizzly's site and checked that a new 6" jointer was going for $340 minus shipping. This auction ended for $300. Do people just not know the prices of the new tools that come with a warranty? Or is the dream of getting good ole' iron just to tempting? Something just doesn't add up here and I must be missing something...

I have to agree with you whole heartedly on this in the Chicagoland area!

I have been watching on Craigslist for Jointers for about a month. I inquired with some. Offered lower than their asking, because their asking was only $50 - $100 lower than what you can get new.

So I finally gave in and just went and bought new this weekend. Got the Steel City Deluxe 6". Figured I was still getting a deal as their $100 MIR will be over soon.

I do have to say I did pick up a PC Biscuit Jointer for only $100, while it is retailing for $200+ on Amazon. That was a pretty good find.

[Travis Gauger]

I have to agree with you whole heartedly on this in the Chicagoland area!

I have been watching on Craigslist for Jointers for about a month. I inquired with some. Offered lower than their asking, because their asking was only $50 - $100 lower than what you can get new.

So I finally gave in and just went and bought new this weekend. Got the Steel City Deluxe 6". Figured I was still getting a deal as their $100 MIR will be over soon.

I do have to say I did pick up a PC Biscuit Jointer for only $100, while it is retailing for $200+ on Amazon. That was a pretty good find.


You will love that Jointer. I just got one about a month ago now and really enjoy it.
I agree with the craigslist stuff often being priced way to high. I will often offer what I feel is fair and then when people tell me they are firm on their price, I tell them their nuts. I was also looking at a used jointer in my area, Rusty, beatup, sitting in a barn, but ran. The guy was asking $300 for it and it could be bought for $289 new + Shipping. Sent the guy an email stating that I would hapily take his for $150 if he would like. Waited for almost three weeks and then I too Bought new. He called as I was unloading the new one into my garage. Oh well.

[Jeff Duncan]

From what I've heard it does make a difference where you are location wise, more than where you look. I for one though have done very well with used machinery. Although in fairness I have access to more than most since I have 3 phase power.
I see bargains all the time and usually if I buy something used I'm in the 30-40 cents on the dollar range. Last week I set up my new (30+ year old) SCM planer I bought for the whopping price of $1k.:)
Last month it was my new (also 30+ years old) industrial tilting spindle shaper with variable speed 3 wheel feeder and 1k worth of cutters for.....$2k:D
I could go through my whole shop but I think you get the point. There's plenty of stuff out there if you know what to look for, sometimes it's e-bay, sometimes it's CL, sometimes it's the local classifieds, but the best deals I've ever seen have been at local 'live' auctions. The last one I went to machinery was basically being given away the bids were so low.
The most expensive stuff is hobby/small shop grade tools. Everbody's got a garage or basemant shop these days, so those tools tend to cost way too much IMHO. Know what your looking for and know what it's worth and bid or offer accordingly. Also remember just b/c someones asking for x amount of dollars, that doesn't mean you can't offer them y amount. It's bargaining and just another part of the game.
good luck,
JeffD

[Paul Johnstone]

Another thing to keep in mind is that the good deals on craigslist get snapped up very fast. Like an hour or less. I imagine in a city the size of chicago, there's more eyes watching for deals. Often the ad gets removed as soon as the item sells.

Thus, if you only check Craigslist every few days, you won't see everything that is posted.