Buying used tools

  I have bought and sold tools via Craigslist.com with a great deal of success.  I recently updated the dust collection in my shop.  Part of my plan was to either buy a used dust collector online or buy the Harbor Freight dust collector that is labeled as 2 HP.  (It really is closer to 1.5HP)  I ended up finding a DC on Craigslist that looked like it would meet my needs.  It was advertised as having a 1 micron bag, a 6″ hose, and a 1 HP motor.  It had a picture of it, but the often scale is difficult to judge from a photo, but if it had a 6″ hose, it looked like a large machine.  The poster did not put a model number on it, but I did some research and discovered that the manufactured still made a similar looking unit.  However, it showed a 30 micron bag and 4″ hose.  Now, dust collectors manufactures often make multiple units of different sizes and look similar, so it was possible that he had a larger version then what I was looking at. The price was decent, with room to negotiate, so I made arrangements to see the machine.  With cash in the pocket I went to look at the machine.  As I had feared, it was not as advertised.  I immediately saw that it was indeed the smaller machine I had looked at.  It definitely had the 4″ hose, and the filter bag was in no way an upgraded 1 micron bag, but rather the standard 30 micron bag that cam with the collector.  I ended up walking away from it.  Since I was ready to work on my dust collection, I decided I had looked long enough for dust collectors, and got the Harbor Freight machine.

I was asked by another woodworker to write this post (thank you Karen!) in hopes that it would help someone else know when to make a good purchase, or walk away from it.  We had realized in our conversation that someone just getting started out may end up buying something different then what they think they are getting.  Speaking from my own experience, that is never fun.

For my most recent experience, doing my homework paid off.   Anytime I prepare to buy a used tool, I research it.  There are many things I look for that make an impact on my decision.  First thing, I need to know what tools work well, vs what I should avoid.  When I was researching table saws, I saw several of the old cable drive saws at a good price.  I almost jumped on one, but then I read that the cables have a tendancy to break, and it was near impossible to find a replacement.  So even though the price was good, the chance of buying a boat anchor was great.  The next thing I look for, is the age and shape of the tool.  This will often factor in what it will be what I am willing to pay for it.  Next, the brand of the tool. Finally, I look at, if possible what the price was new, what it would currently cost to buy new, and what similar tools are going for used.

The trickiest part of this process is determining what to pay for a used tool.  For power tools, the rule of thumb has been 50% of what the machine (or equivalent) is going for new.  I don’t quite follow that.  If the machine was made in the last 10-15(and thats a stretch) I think 50% is typically fair.  However, in most cases, buy a used machine is like buying a used car.  As it gets older its value does drop.  Other exceptions to this rule is premium brands.  I have seen some of the go for as much as 85% of new.  Both those numbers also assume that the machine is in good and useable shape.  Again, the exception to that is dull blades.  If you buy a tool used, just assume you are going to put a new blade on it.   The only time I would consider paying more then 50% for an average tool from craigslist is if it is still in the box unopened.  I actually tend to stay away from these, as the seller tends over inflate the price.  I personally, will only pay 60%-70% of new.  The reason being is that there is still a higher risk buying these tools versus buying it off the store shelf.  Unless the seller gives you a recent sales receipt for the tool, there is no warranty on it.  Many sellers post for 85%-90% of new for a “new in box” tool.  Personally, I will go ahead and pay the extra and get the warranty.

I am not going to go in a discussion of hand tools in this post.  The rules for pricing on these is all over the place.  My recommendation, is do your homework on this.

Finally, very rarely is the price advertised fixed.  Craigslist was founded on the idea of the barter system.  So barter!  Just about every seller knows how much they want to get out of something, and then (hopefully) reasonably increase the price for negotiating room.  I have successfully negotiated price for craigslist both in person and over email.  This is an important tip for sellers as well.  You want to REASONABLY increase the price for negotiating room, so that you are not gouging the buyer.  First, if you do raise it too high, no one is going to even look at it, much less buy it.  And yes, it is great when you get a little more out of a sale then what you had planned on it, but you also want to be able to go to bed at night knowing it was still a fair price.  From a buying standpoint, I have absolutely no problem giving a low-ball offer to a tool that is way overpriced, usually over email.  Most of the time, I don’t get a response, and that is not unexpected.  However, it does not hurt to ask, and may end up working out in the end.

**Thank you to Cosmin for the pictures of the beautiful Japanese woodworking tools!