[Woodworkers] Tool Prices

[via Woodworkers]

Chuck,
I am with you. If I have to pay almost new prices, I will buy new and have  
the benefit of the warranty.  The endowment  effect (also known as 
divestiture  aversion and related to the  mere ownership effect in _social 
psychology_ (https://en.wikipedia.org/wiki/Social_psychology) _[1]_ 
(https://en.wikipedia.org/wiki/Endowment_effect#cite_note-:0-1) )  is the hypothesis that 
people ascribe more value to things merely because they  own them. So  I try to 
look at what is reasonable and go from there. If I think its too much,  
I'll either ask the person what their bottom line is or walk away from  it.
 
Gary  Williams
 
 
 
In a message dated 7/13/2016 5:20:45 P.M. Eastern Daylight Time,  
woodworkers at lists.sawdusters.org writes:

 
Don't be shy in asking for "a bottom line, cash price".  A lot of  folks 
list things a little high so that they can haggle. Rather than  say  " I'll 
think about it, or I'll have to pass" even when they offer their bottom  line 
price and it is more than you think it's worth, just tell them "this is  
what I'm willing to pay since it is used and a new one with a warranty is only  
XXX.  And that is cash right now".  Kind of like Kenny Rogers says,  you 
got to know when to fold em.


Been buying and selling since  2006 when I lost my job in a sell out.  
Though I don't claim to know it  all, I know what has proven for me.  And 50% or 
just a little plus is  what used tools sell for.  Good luck


On Wed, Jul 13, 2016 at 4:19 PM, Chuck Steger via  Woodworkers 
<_woodworkers at lists.sawdusters.org_ (mailto:woodworkers at lists.sawdusters.org) > wrote:


 
I check  craigslist all the time for used tools and it seems to me that 
people are  asking unrealistic prices for used tools. However, maybe it’s just 
me and I  need to manage my expectations. This is a real example (but 
totally common).  A gentleman is selling a Grizzly edge sander and a Grizzly 17” 
bandsaw. The  edge sander is priced 75% of new and the bandsaw is priced MORE 
than new.  Both tools are 9 years old. I see this all the time. People ask 
close to new  prices. 
My expectations  are the tool should be at least half price if an older 
model and well used.  I’ll use my own PM66 tablesaw as an example (not that I’
m selling it). It  cost me over $2000 and is well taken care of but is over 
10 years old. If I  sold that, I would expect to ask $1000 or less. I 
realize just because it is  used, doesn’t mean it is in bad shape. So would I be 
selling myself short  (again, not selling J)? Are my  expectations over used 
tools too high? 
Another real  example: A Grizzly Oscillating Edge sander. New is $1830, the 
person is  asking $1300 for “new, never been used”. So here is a new one 
for $530 less.  I guess I look at it like a car, once you drive it off the 
lot, it  depreciated (plus, no warranty). I saw a DeWalt Scroll saw (well 
used) for  $400. You can buy new for $450. 
One argument is  you save on shipping (assuming you can go pick it up). In 
the case of  Grizzly, it would cost me ½ tank of gas to go get it since I 
live in the  area (and the people selling are local). Perhaps it’s just me but 
for close  to new price, I’d rather pay the new price and get the warranty. 
  
What say you all?  Am I living in a dream world? 
Chuck 



_______________________________________________
Ya  know, life is all about perspective; when the Titanic sank it was a 
miracle  to the lobsters in the ship's kitchen
_Woodworkers at lists.sawdusters.org_ 
(mailto:Woodworkers at lists.sawdusters.org) 

To  unsubscribe from this list -
http://lists.sawdusters.org/listinfo.cgi/woodworkers-sawdusters.org

Address  to contact the list ADMIN staff -
_woodworkers-owner at lists.sawdusters.org_ 
(mailto:woodworkers-owner at lists.sawdusters.org) 






_______________________________________________
Ya  know, life is all about perspective; when the Titanic sank it was a 
miracle to  the lobsters in the ship's  kitchen
Woodworkers at lists.sawdusters.org

To unsubscribe from this  list  -
http://lists.sawdusters.org/listinfo.cgi/woodworkers-sawdusters.org

Address  to contact the list ADMIN staff  -
woodworkers-owner at lists.sawdusters.org
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.sawdusters.org/pipermail/woodworkers-sawdusters.org/attachments/20160713/2f340cff/attachment-0001.htm>