How Much for Used Equipment?

[jussi]

70% of my equipment is from CL or garage sales. 20% from crazy deals found on woodworking forum. The other 10% I pay retail because it's stuff I need right away or never goes on sale.

I'm pretty cheap so I almost never pay more than 50% the lowest street price. Most items I buy are well below 50%. I typically use Amazon as a barometer. Plus you have the whole matter of being stuck with a tool that breaks. Most people understand that unless you put price is firm on the ad it usually implies that the price is negotiable. So if it's something I want but not necessarily need I typically ask if the seller will take a lower price. There are alot of woodworkers in my area however, so I have to be pretty vigilant when new deals come. Rss feeds and push notifications help alot. Typically a killer deal is sold within a few hours of posting. And obviously if such a deal is posted I pay the asking price. I also never come right out and commit to a sale without seeing the item first but if I'm really interested I'll say something like... If everything is as described and in good working order I'll take it.

[cabinetman]

well, don't forget that's just one man's general guidelines...
Surprised there's no other opinions.

I've bought and sold my share of used equipment. I find the retail price has little to do really with the price of used equipment. How desperate either the buyer or seller may be usually sets the scene. As a buyer, I wouldn't buy anything sight unseen. I will have a price in my mind what I think it's worth, and what I'm willing to spend.

In my wallet I will have nearly enough (but short) the amount of money being asked. In a pocket I'll have what I think is my best deal. It's not that I like negotiating, but it may come to that. So, he gives his price, and I pull out my offer (in big bills). If that doesn't grab it, I may dip into the wallet if I want it bad enough.

This works as well when buying a used motorcycle too.
.

[woodturner]

Surprised there's no other opinions.

You know what they say about opinions (Opinions are like _ _ _ _ _ _ _ _ - everyone has one, but no one wants to look at the other guy's)

When I buy used equipment, I am looking for a bargain. For a unit in apparently top "mint" shape, I might go 50% of actual retail, not MSRP. Most times, for used equipment, I would pay 10% or less of retail for used equipment. I've had too many issues with used equipment that had hidden problems or was misrepresented.

The exception is equipment I buy through the woodworkers guild - equipment sold by the club for the widow of a deceased member. If I knew the member and knew he was particular about his equipment, I will pay more to help out the widow.

[LCHIEN]

Thanks to Loring for a very good and useful discussion. I think I'll print that out for future reference.

well, don't forget that's just one man's general guidelines...
Surprised there's no other opinions.

[phrog]

That way he can retain visitation rights!

Actually, I think you may be on to something there.

[phrog]

Thanks to Loring for a very good and useful discussion. I think I'll print that out for future reference.

[Knottscott]

Thanks to all who replied. They just called me and told me he sold it to his BIL.

That way he can retain visitation rights!

[LCHIEN]

I know there's no need for an answer the BIL having bought the lot, but its a good time for a general discussion on used prices.
Clearly there's exceptions to everything depending upon how rare it is and how badly you want it and more importantly, who else wants it.

But here's my mental thought process:
First a definintion of normal street prices - not MSRP but what they usually sell for but not clearance pricing
(for example the BT3100 was sold a lot at $300 and I consider that the street price even though a lot of you were able to by clearanced models for $200-250)
I'd go up to 85% percent of normal street prices for something absolutely in mint condition and hardly used and seemingly perfect but without any factory warranty or returnability. That means you're taking a chance it might break within a normal warranty period and you'd have to pay for repairs.
For something used, a name brand, but well taken care of, in very good to excellent condition maybe up to 66%
For something well used but still very serviceable and in very good condition, I'm thinking up to 50% of street prices.
Used and needing some replacements parts and some maintenance or TLC, likely not working perfectly, we're talking the 15-33% range depending upon what's obviously wrong, don't forget after you fix the obvious stuff there may be other hidden problems.
A basket case for a "restoration project" or parts, we're down to 10% or less of street prices, and there'd have to be a lot of useful parts still left.

Name brands (i.e. dewalt, Jet, Delta) get higher end of price range vs. off brands (you'l know these when you don't recognize them).

[phrog]

No more than 50% of current retail with the exception of the bandsaw. I'd go no higher than 5-10% for that boat anchor.

Boat anchor? I would offer him 10 % if he hadn't already sold it. Shoot the electrical cord is worth that much.

[sweensdv]

No more than 50% of current retail with the exception of the bandsaw. I'd go no higher than 5-10% for that boat anchor.

[phrog]

Thanks to all who replied. They just called me and told me he sold it to his BIL.

[phrog]

Pretty sure they had some three wheeled models, in that size, that are KNOWN for issues (can't give them away).

It's a two-wheeler.

[jussi]

Depending on condition I'd say 50%-70% retail.

[LinuxRandal]

Not sure which Craftsman model. Only know it's 12." Guess I didn't realize they made more than one model in 12" range.

Pretty sure they had some three wheeled models, in that size, that are KNOWN for issues (can't give them away).

[phrog]

Every area is a little different, and there are always other factors, but I'd think a nice PM66 equipped as described would be worth in the $900-$1200 range.

Which Cman 12" is it?

Not sure which Craftsman model. Only know it's 12." Guess I didn't realize they made more than one model in 12" range.