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  • metalmagpie
    replied
    I have bought the contents of an entire shop and then resold them. Do not underestimate the amount of work. It took me fully six months to get through everything and get it priced and organized for resale. Then I had a mondo garage sale and netted about $15k.

    The widow wanted to give the stuff to me. I didn't want to do that, so I offered her $1500 for the entire lot, or about 10 cents on the dollar as compared to sell-it-quick pricing. Is $15k a windfall killing over six months? Not really, that's about minimum wage here in Seattle.

    If you pay 25% or 50% of what you expect to get, you will really regret it.

    I suggest you sell larger items on site. And then haul everything else away to another space. And make some arrangements after you conclude the deal but before you remove the merchandise that will preclude them offering friends to go through and cherry pick out "souvenirs". I had to nip that in the bud.

    metalmagpie

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  • mattthemuppet
    replied
    I find stm_surplus a great place to get a good idea of tool value. The seller takes good pictures, does a reasonable job with the description and has a great rep, so arguably their winning bids are near the top end of the market. Tool holders do sell on there, but not for a whole lot.

    The % of retail price thing is tricky - % of what that item originally sold for, what it sells for now or what comparable products of sufficient quality (whatever that might be) sell for? Tool holders are a great example - full retail might be anything from $0 to a machine shop that buys alot of inserts to $150 to someone off the street to $15 for an equivalent Chinese jobby. No way I'm paying $75 for a tool holder I can get a workable version of for $15, but I might pay $25 if the condition looks ok.

    A better guide would be - max 50% of what comparable products sell for on eBay before shipping. That leaves some money left over for fees and your time, with probably 25% profit leftover. If that thing sells for $10, you'll be making $2.50-3 a sale...

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  • projectnut
    replied
    If you know the brands, models, and part numbers of the items you're considering do an "Advanced" search on eBay and see what the same or similar items actually sold for. I purchase from eBay like many on the board. However I like most aren't willing to pay retail price. I have yet to see a seller listing old and obsolete tooling or tools that offers a guarantee. I'm willing to take a chance on items if I pay 50% or less of retail. If I'm paying anything more than that I expect to be able to return defective, misrepresented, or mislabeled items.

    If you think you can make enough money to make it worth your while selling the items for less than retail offer between 25% and 50% of what you think you can sell and ship them for. If you need to charge near retail to make a profit you're probably going to have them for quite a while.

    It pays to be an educated seller. Some time ago I was looking for blades for my power hacksaw. I saw some that would work on eBay. The asking price was above the retail at several industrial suppliers, but the seller also included "Make an Offer". I offered the retail price and got flamed for my efforts. I responded with links to 3 suppliers selling the exact same blades and their prices. Instead of rethinking his price the seller relisted the blades at an even higher price when they didn't sell. I followed the listing, and once again it expired without being sold. I kept the sellers information and occasionally checked his listings. Almost nothing of what he had listed sold, and eventually he quit making listings.

    I'm sure he was frustrated that nothing was selling. I'm betting he paid more for the items than their actual retail value. If you want to be successful you have to know not only the value of the items you want to sell, but also who your competition is. If you're up against a business that buys out huge lots of similar items and is willing to take a small profit margin you're going to have a rough go of it.

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  • PStechPaul
    replied
    You might try offering 25% of perceived value for the lot, plus 25% of the actual sale price, minus actual cost of shipping and handling. If you are currently unemployed due to stay-at-home quarantine guidelines and restrictions, this may be a good time to earn a little extra money while you aren't working. Another good way to sell items like this would be at a booth/table at Cabin Fever next year, or their consignment tables.

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  • 754
    replied
    I wish the OP would come back and give us a idea what is there, at this point we are all just guessing..

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  • J Tiers
    replied
    Tossed, set on shelf taking up space, etc...... Sunk cost for which you get nothing but a hassle, vs clearing space and getting paid for it.

    Sure sell several at a time, but you still would get your tire-kickers.

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  • cijuanni
    replied
    Originally posted by J Tiers View Post

    If you don't want a $25 sale, and you toss that, then you toss the next one, and later the next after that, etc, etc, you tossed maybe a hundred bucks, maybe $200. That's a bunch of end mills, collets, maybe a small indexer, etc that you tossed.
    Who said toss it??

    I said it isn't worth my time to 'invest' in purchasing a bunch of low value items and sell them off piece at a time.

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  • J Tiers
    replied
    Originally posted by cijuanni View Post

    .........

    As a seller it simply isn't worth it when for the same hassle you can sell a $500 item and hopefully pocket hundreds.
    Originally posted by Mcgyver View Post

    ........... Its rare that someone wants to to take the time for a $25 mic.....but they will for a 25 mic, 60 depth mic, box of taps etc....all of sudden its a 200 sale with no shipping time or fees....and I'm in the shop Sat anyway. Still, its decision on how spend ones time, not a sensible business model. otoh, you guys would be amazed at how much cool stuff I've got squirreled away
    McGyver has nailed it......

    If you don't want a $25 sale, and you toss that, then you toss the next one, and later the next after that, etc, etc, you tossed maybe a hundred bucks, maybe $200. That's a bunch of end mills, collets, maybe a small indexer, etc that you tossed.

    You must have a lot of jerks around your area, I have not had problems with local sales. I HAVE had people show up and pay the first named amount, cash down, no hassles. Even on machine sales, where I had built in a negotiating cushion..... and yes I had a good idea of the general run of prices, and set above the low end by a decent amount.

    I'll try to sell several at once, sometimes folks take the lot, sometimes not. I kind of prefer the individual sales, because that ends up about 25% to 40% better on total take. The bulk discounts get to be an issue, I have refused them before and will again. I'm not a charity operation unless it is MY choice to be one.

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  • Mcgyver
    replied
    Originally posted by cijuanni View Post

    Point is, the seller had to take pics, post it on CL, deal with texts or calls, arraign a meeting etc,,, all for a $25 sale.
    If the seller paid nothing for it he made $25, if he paid 50% of the sale price he made $12.50.
    Plus the no shows and jackasses who don't bring cash or then want to negotiate the price down.

    As a seller it simply isn't worth it when for the same hassle you can sell a $500 item and hopefully pocket hundreds.
    agree, unless you're have a bit of fun with it. I've figured out how to avoid the flakes, I like the shop visits/chats, met several who've become friends and Iike working with tools....and of course I don't buy in the first place unless there is something the guy had that I really want. So you get what you want for no net cost, meet a few interesting people, its all good. 98% of what I sell is local and I do as well or better than ebay. Its rare that someone wants to to take the time for a $25 mic.....but they will for a 25 mic, 60 depth mic, box of taps etc....all of sudden its a 200 sale with no shipping time or fees....and I'm in the shop Sat anyway. Still, its decision on how spend ones time, not a sensible business model. otoh, you guys would be amazed at how much cool stuff I've got squirreled away

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  • cijuanni
    replied
    Originally posted by J Tiers View Post
    For an ordinary 1" mic, I'd not get out of the chair if it were free, for most. I have traveled across town to find a rare or unusual one, or a size I wanted and did not have, like a 12" or 24" dial caliper at a reasonable price, or a large mic ditto. And I have bought them for $25. It's the item, and not the price, unless the price is low.
    Point is, the seller had to take pics, post it on CL, deal with texts or calls, arraign a meeting etc,,, all for a $25 sale.
    If the seller paid nothing for it he made $25, if he paid 50% of the sale price he made $12.50.
    Plus the no shows and jackasses who don't bring cash or then want to negotiate the price down.

    As a seller it simply isn't worth it when for the same hassle you can sell a $500 item and hopefully pocket hundreds.

    Leave a comment:


  • J Tiers
    replied
    Originally posted by cijuanni View Post

    .......
    Selling locally low value items isn't worth the trouble either. Who runs across the city or county to buy a $25 item? No one sane.
    ..........
    The answer depends on what the thing is. Anything that is not easy to find will bring folks even if it is not actually "worth" very much. Run of the mill stuff, who knows?

    Around here, a 1" micrometer, in just average "been in the toolbox for a long time" condition, which is working, not actually damaged, but nothing special, goes for anything from $10 to $30, depending on what brand and how clean.

    For an ordinary 1" mic, I'd not get out of the chair if it were free, for most. I have traveled across town to find a rare or unusual one, or a size I wanted and did not have, like a 12" or 24" dial caliper at a reasonable price, or a large mic ditto. And I have bought them for $25. It's the item, and not the price, unless the price is low.

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  • cijuanni
    replied
    Originally posted by Mcgyver View Post
    you can't offer him 25% and expect to make money, look at what the stuff sells for.

    After years of mucking about with this stuff, here's my rule of thumb on buying & valuation. The value of used/second hand machinist tools (even if "new" its still second hand, i.e. not retail) is 10%-40% of new depending on condition, 40% is never used boxed, 10% is usable by rough. Average guys stuff is 20-25%. This is supported by watching ebay comps (completed sales)

    If buying in bulk, pay half that or less. If 20% of new = 1000, I'd pay say $400 if taking it all, maybe 500 if there's some things I really want. The logic is simple,you're only going to get its "value" (1000) selling one at a time which means an endless parade of classified flakes or a heck of a lot of work and some risk photographing, listing and shipping everything individually on fleabay. He will easily spend 600 in time dealing with piecemealing it. Nobody is ripping anybody off, there is value to the seller in one quick painless cash and carry sale. I even tell them "you can get a lot more for selling onsey twosey than I'll pay, because in taking the lot of it because I expect a big discount , just depends how you want to spend your time". I don't do it much anymore as it is time consuming, but I more or less have equipped my shop that way

    PS. that's a rule of thumb stuff for typical tool box contents, insert holders can be much lower unless you know for sure they're currently sought after tooling. A lot of the holders are give aways if you buy a few dozen inserts at a time and when the #@$%#% discontinue the insert they're worthless. We don't know what is there but If you can't use them, I'd be thinking pass. Buying and selling has to be viewed as fun, a bit of sport and there needs to be something you really want to make it worthwhile....otherwise any minimum wage job would pay better
    Good advise.
    Selling anything worth less than $25-$50 on Ebay isn't worth the hassle or my time. To make $11.43. What is your time worth?
    Selling locally low value items isn't worth the trouble either. Who runs across the city or county to buy a $25 item? No one sane.

    If you could buy the whole lot for $100 and sell it as a lot for $400 or more that would be worth doing. Parting it out, dinky sale after dinky sale isn't

    Last edited by cijuanni; 04-30-2020, 01:05 AM.

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  • J Tiers
    replied
    Even in-demand stuff that is hard to find can be hard to get rid of.

    I bought a batch of 4NS collets a while back, because they are somewhat rare and the place they were for sale was never going to find a buyer who needed them. I figured I could get my money back (I did not pay a ton). They are used on many Rivett 608 machines, so I offered them on the Rivett group. I DID get a couple replies, but the people were in Australia and shipping was a rather large chunk of the delivered price. Not worth the trouble. I may end up tossing them in the scrap, since my 608 uses 5C, so I do not need them, it was a matter of almost doing other owners a favor.

    It can seem like taking advantage, but you have to consider what you are doing. If I had needed the 4NS for my own use, I would have cheerfully paid considerably more if it had been asked. There is the difference.

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  • Mcgyver
    replied
    you can't offer him 25% and expect to make money, look at what the stuff sells for.

    After years of mucking about with this stuff, here's my rule of thumb on buying & valuation. The value of used/second hand machinist tools (even if "new" its still second hand, i.e. not retail) is 10%-40% of new depending on condition, 40% is never used boxed, 10% is usable by rough. Average guys stuff is 20-25%. This is supported by watching ebay comps (completed sales)

    If buying in bulk, pay half that or less. If 20% of new = 1000, I'd pay say $400 if taking it all, maybe 500 if there's some things I really want. The logic is simple,you're only going to get its "value" (1000) selling one at a time which means an endless parade of classified flakes or a heck of a lot of work and some risk photographing, listing and shipping everything individually on fleabay. He will easily spend 600 in time dealing with piecemealing it. Nobody is ripping anybody off, there is value to the seller in one quick painless cash and carry sale. I even tell them "you can get a lot more for selling onsey twosey than I'll pay, because in taking the lot of it because I expect a big discount , just depends how you want to spend your time". I don't do it much anymore as it is time consuming, but I more or less have equipped my shop that way

    PS. that's a rule of thumb stuff for typical tool box contents, insert holders can be much lower unless you know for sure they're currently sought after tooling. A lot of the holders are give aways if you buy a few dozen inserts at a time and when the #@$%#% discontinue the insert they're worthless. We don't know what is there but If you can't use them, I'd be thinking pass. Buying and selling has to be viewed as fun, a bit of sport and there needs to be something you really want to make it worthwhile....otherwise any minimum wage job would pay better
    Last edited by Mcgyver; 04-29-2020, 09:15 AM.

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  • SteveF
    replied
    I agree with rjs and even 50% is high. Look on eBay and remember that you will need to be UNDER those prices to get people to buy yours. Be extremely conservative with your pricing estimates.

    Steve

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