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Fair Prices

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  • Fair Prices

    Not trying to sell anything here.

    Now what do you guys think is a fair price for a good used part that has no defects and was removed from a still working lathe that had a new feature installed thus making some of the original parts no longer needed.

    example 1/2 new price????????????
    could be a shaft, bearing housing etc.

    This is also not for e-bay use.


  • #2
    Don't be so ambiguous Seriously though, you are looking for a flat answer and my answer would be different depending on just what you are talking about:

    Example: 1/2 of the price of a new one (ie. half of a real, lowest available price, not the highest, suggested retail value found) might be reasonable for a lot of removed-from-service, nearly new parts. However, if you were talking about something like say the bearing housing from the end of a bridgeport table (which gets replaced every time a modern power feed is installed), then the value would be much lower....because there are lots of these things floating around and only a fool would ever consider buying a new original at retail price. On top of that, a used one is no less valuable than a new one and there are lots of used ones. This renders the "new" price a useless standard. In effect, the market makes them less valuable.

    I once bought a table lock handle on Ebay that said something like "new, removed from service". That's an oxy-moron. It was indeed in great shape, but it had swarf and coolant stuck to it. I am pretty sure Hardinge does not package them up that way. I wrote the seller and told him that his description should not have had "new" in the wording, in any way shape or form. I knew better anyway, and bought it knowing what I was really getting and got a bargain. However, used is used. If someone wanted to say "like new" for something that truly is, that's fine. However, if it was installed and tested, its not new in my book.

    Just my $.02

    Paul Carpenter
    Mapleton, IL


    • #3
      Depends on how common the part is.

      If it's something for which there is no real demand because there are millions sitting in junk drawers around the country then it's hardly worth shipping cost.

      If it's something that's impossible to get elswhere, then 1/2 price of new is pretty reasonable, and may be considered low

      Example, change gears for some lathes can still be purchased new, and used gears go for 1/4 or less new price if in good useable shape.

      Ultimately the buyer sets the price either by making the purchase or jumping back in the truck and driving to the next guys.

      That's why you see so many things on ebay go for outragious prices, if it's worth thousands to someone, they'll pay thousands. otherwise you see those great machines going for $19.95

      Without knowing what the item in question is you can't say if it's reasonable to ask 1/2 new cost.

      for some things yes definately, for other things you'll see yourself as the focus of one of the 'ambitious ebay seller' threads

      look for similar items on ebay, craigs list, for sale sections of the boards etc, then price yours accordingly.
      if you see one in rough shape SELL for 1/2 new, and you're is in perfect condition then you know you're asking too little!



      • #4
        The concept of a "fair price" is actually fatally flawed.

        it makes no difference what the seller thinks or wants.

        The BUYER sets the price. Always. Everywhere.

        When the seller sets a price, it is an "offer", not the law. If the "offer" is not accepted, the price is too high, then and there, for that. Next week, or in a different place, it might be different.

        NO one fraction of the "new" price applies everywhere, and it cannot make a "fair" price.

        In my experience, when someone starts talking about a "fair" price, there is some "baggage" attached.

        They will want more than a reasonable or customary price for the item. The item may even be salable at that price, but NOT in the condition it is in.

        They will complain about how nobody pays for quality. They probably are in a position where they "NEED" to get a high price. They will aggressively demand to know whether you think the part is "worth" that much, and if not why not.

        They will not care a whit about the usual and customary price of such things, they will want more, usually MUCH more.

        I go elsewhere, they are not worth dealing with.

        I might add, that even a "fair" price of "half retail" won't fly for many things. The machine may not have cost much more than that part is "worth" as a part at the price you suggest.

        Try getting what your used car is "worth" someday........ a "fair" price of half the new price. I hope you like to hear the sound of people laughing at you, because you probably will.

        Just an example, not accusing you of anything. But "fair price" and "worth" are very "loaded" words, and it is usually a "load" that isn't wanted by a purchaser.
        Last edited by J Tiers; 07-03-2007, 04:11 PM.

        Keep eye on ball.
        Hashim Khan


        • #5
          As my grandparents used to say:

          "It is only worth what someone will give you for it"

          Which I interpert as: If you have something worth $10.00, yet no one will give you more than $0.10 for it, $0.10is all it is worth.

          Worth AS decided by the items holder. Worth IS decided by the items desirer.

          Worth and value could be one in the same, depending upon how you are interperiting it.

          IMO, If someone wants an item "worth" $0.10 badly enough, they will pay you $10.00 for that item because it's "worth" it to them, regardless of that items actual value or worth.

          Does that make any sense??
          Last edited by ERBenoit; 07-03-2007, 05:48 PM.
          Paying Attention Is Not That Expensive.


          • #6
            So what's the price of scrap in your area? That should set a lowest price.


            • #7
              Lowest price might be lower than scrap if it costs money to move it to the scrapyard, plus pay for the gas and vehicle and your time. A little under that would still net you money.
              David from jax
              A serious accident is one that money can't fix.


              • #8
                it is the buyer and seller that set the price - prices (in the absence the marketing department sticking their noses in ) are set by supply and demand.

                of course that assumes a perfect or efficient market like commodities. on one hand the rarer it is reduces supply, but you might wander the rest of your days before you find some that had a 1947 Who&Whatever x" x y" lathe let alone someone who needs a findlay sprocket for it. theres huge inefficiency in the used machine tool parts market

                other things that influence price. bought a scope recently and knowingly paid a lot more than I'd have to on flea bay. why? bought it from a business with a good rep, there's recourse if something goes wrong, the guy services electronics so if it breaks I've can get help, he has inventory and selection so i could buy what i want and when, he's local so i got to meet him and pick it out, no importing, buying sight unseen etc etc etc.

                imo if its exactly what i want and in great condition, but not from a store, price starts at 50% and goes down from there based on age & condition, intangibles and need. buying sight unseen from fleabay drops the price a lot, for me anyway