Used power tools, how big a discount on new will you accept?

[DBT85]

I've been keeping an eye out for a Domino and as they seem to be rare as rocking horse teeth new at the moment, I was looking at used options.

Now, every auction varies in content and final sale price, however, one auction ended today that made me question how far people are willing to go.

This auction was for the DF500, a bunch of extras, all the bits and a systainer of domino's, in the end selling for just over £800 once posted. Festool Domino DF 500 Q-Plus GB 240v Domino jointing machine with extras and Dom | eBay. No mention of its age, use, how many of the dominos are gone etc.

While nobody seems to have stock of new 240v ones at the moment, Axminster list the contents of that auction for around £1000. New, with warranty and a complete set of dominos.

So someone saved £200 on a £1000 item but at the cost of no warranty, no idea of history. On the flip side they got the tool now that might be out of stock everywhere for a few weeks.

The Domino of course could probably be sold again in 3 years for nearly the same money, but, how far would you go for a used tool compared to the regular retail price?

 

[marcros]

Festool always have been a bit strange with used values. Veritas and LN on eBay always seem to fetch a high percentage of the cost when new too.

Personally, I would want a decent discount on used tools to reflect the lack of warranty and the fact that some of its life has been used up. I wlso want assurance on where it has come from. I would rather buy on here for that reason, being fairly certain that it hasn't been stolen. At a few hundred quid, I would want the backup of the manufacturer and if it is being used for my income I would be more interested in offers like a replacement whilst it is being fixed. Suddenly a discount of a couple of hundred isn't much.

Where there is no stock, options are reduced. If you need a domino, there aren't any other equivalent machines. If it were a router you have other brands, models etc.

 

[TheUnicorn]

I'm often very surprised at the value sellers place on their items, I'd be reluctant to buy second hand power tools without it being a substantial discount on the new price. there are enough regular sales from most vendors that if you are prepared to wait you can get most items at a price that matches the higher end of the second hand market.

 

[transatlantic]

If its something that you can still buy new, and only shows signs of wear and tear, I'd personally be looking to pay about 65%, about 2/3rds of the current retail price. But I certainly wouldn' buy anything without being able to inspect it and see it working.

If it was somone I knew and trusted, I'd probably be happy to up that percentage.

If its something not sold anymore, then it gets more tricky.

As for the Dominoes, I think it's crazy. But if you're a workshop where time is money, and you can't find any new, then it might make sense.

 

[Just4Fun]

I certainly wouldn' buy anything without being able to inspect it and see it working.

There speaks the voice of experience or intelligence. I don't know which.

As I don't have power in my workshop unless I run an extension lead I am the wrong person to ask but ...

I recently bought an electric sander from a flea market. Please don't ask me why - I am obviously inexperienced at buying used power tools.

After a week or two I decided to try the sander. It didn't work. I was annoyed: 5 euros wasted.

Despite being a complete elecrical ignoramus I stripped down the sander and decided the problem was the switch. A local (OK, 100km away but that is local here) electrical parts store had a drop-in replacement switch. Exactly the same physical size and the same connections. Perfect. I fitted the swich and the sander worked. Fantastic.

A week or two later I took the sander to my workshop. OK, OK, I am sure you are ahead of me here. Sander in hand I thought: where do I plug this in? I had a working sander and no power socket.

Now you can understand that a used power tool is only of interest to me if it is being sold at a tiny fraction of its original price. I am not the target market for a used Domino.

 

[Sideways]

There was a piece of consumer research done years ago that asked what (average) level of discount was needed to pull a customer away from a supplier they were basically happy with to try a new one. The answer they found was around 18%.
For no good reason, I adopted that as the discount that I instantly apply to used items that for loss of warranty - even if it is perfect in every respect.
On a £500 tool, that's nearly £90, too low really but it will cover parts if you can fix the thing yourself, and on (say) a £1500-£2000 piece of photographic kit where modest repairs seem to cost £200-£300 its not a bad provision to make.
Then I expect further discount for buying used, uncertain history, incompetent owners, wear and tear, and dealing through second rate channels like amazon and ebay.
So it's mighty hard to get me to part with more than 50-60% of the most competitive price I can find for the same thing new.
And that's only if it looks cared for.
For me it's a good deal or no deal

 

[sometimewoodworker]

This auction was for the DF500, a bunch of extras, all the bits and a systainer of domino's, in the end selling for just over £800 once posted. Festool Domino DF 500 Q-Plus GB 240v Domino jointing machine with extras and Dom | eBay. No mention of its age, use, how many of the dominos are gone etc.

The selling price was £785
the list price for everything is £1,284
so a 40% discount (a bit less because of maybe used dominos)
for a Domino that typically sells used for very close to, or over, the purchase price even 10 years old, that sounds like a good deal for the buyer.

Even if you go for the Axminster discount (£1,047) you are still getting 25% off the price of a machine that usually will sell Used for at least £100 more

picking Festool and a Domino is probably one of the worst possible tools as the value doesn’t drop in the same way that almost any other power tool will.

saving £260 ish depending on the number of dominoes used

 

[Chris_Pallet]

It has to be over 50% for me, especially with no history or warranty.
Unless your buying one of a friend you know who looks after it. Then maybe more.
I'm all for buying second hand at a bargain, I've a bandsaw and table saw which were a bargain.
Good luck in your search

 

[niemeyjt]

I would start with the price of what what I can buy it for - and not necessary the RRP. Sellers quote the full RRP - not just ebay - I have seen the same with Gumtree adverts. A quick Google search will often find cheaper new alternatives.

RRP - Domino 500 Set - £987.60, Box of Dominos £249.48 = £1237.08 - not sure what the other £47 was for.

If you look at Toolfest, they have (on back order) FESTOOL 574429 Domino DF 500 Q-SET GB 240V with free 498899 Domino Assortment Systainer for £790 - so the saving on the above was really only £5 before postage costs.

 

[clogs]

try buying used elec hand tools in France....they want nearly ne wprices for something as old as the hills...
major machines not so in general....
just before I moved a 9" Makita, 240v grinder was close to €300......

I also took a chance on a makita 1/2 sheet sander for €5's, only needed a belt.....

 

[Doug71]

I bought my DF 500 when they first came out, must be 12 years ago, think it cost about £450-£500 at the time. I'm sure if I put it on ebay today it would go for more than I paid for it, it just seems crazy, I can't get my head around it

 

[marcros]

It does seem crazy Doug, but to look another way the only alternative way of getting a single tool to do that function (ie avoiding the argument that you could cut a mortice and tenon, or use a biscuit) is to buy a new one at the current price. The price that you paid becomes irrelevant because it isn't an option for anybody else to snap up that offer now.

Anybody who bought a good quality bandsaw a few years back is probably in a similar position now, I am fairly sure that what was 500 new 10 years back is a thousand or more new now.

 

[Mike Jordan]

As honest woodworkers we all have a responsibility to ensure that we are not providing a ready market for tools stolen from other woodworkers. I don't think that's easy on eBay so I avoid using it. The comment about seeing and trying the item is also very true. Please don't be offended by this comment.
On a previous thread regarding theft of tools a considerable number of members became upset and accused me of calling them thieves.
I am simply pointing to an obvious risk.

 

[gmgmgm]

I bought a Domino new a couple of years ago- had been watching/hoping for a second-hand "bargain" for a couple of years but they just didn't exist. (It then saved so much time on the first project, I was kicking myself for waiting).

I expect it's the same now, that there are few/no discounted Dominos. Very few are sold... if it works, why would you sell it?

 

[transatlantic]

if it works, why would you sell it?

possibly selling due to the current climate? ...people are short of monry, businesses closing etc

 

[DBT85]

I would start with the price of what what I can buy it for - and not necessary the RRP. Sellers quote the full RRP - not just ebay - I have seen the same with Gumtree adverts. A quick Google search will often find cheaper new alternatives.

RRP - Domino 500 Set - £987.60, Box of Dominos £249.48 = £1237.08 - not sure what the other £47 was for.

If you look at Toolfest, they have (on back order) FESTOOL 574429 Domino DF 500 Q-SET GB 240V with free 498899 Domino Assortment Systainer for £790 - so the saving on the above was really only £5 before postage costs.

I'd never heard of them so thanks for that.

I don't pay attention to the RRP on anything, why bother when so much is sold for less at different retailers?

 

[artie]

There's one small point.

If you buy something new for £500 and use it for 10 years, then sell it for £500, you're not getting your money back.

The money you are getting back does not have the value of the money you paid.

 

[Spectric]

Hi

Really depends on its original build quality, take a big old piece of cast iron machinery and it will hold value better than a modern tin can example because it will still have plenty of life in it, and is worth further investment. Another way of looking at this is if you are quoted say £200 for a job and you could do it by buying a £300 bit of kit then that kit only owes you £100 so long as it is still serviceable. When it comes to machinery I would want a reasonable reduction once it is over a year old because I am taking the risk so I want 20 to 25% off, this only applies to something that is currently available. If it is an old model which had a good reputation then it really just depends how much is it worth to you. As for these Dominoes I think great for a production enviroment but loose tenons are just loose tennons, not hard to make a long length of tennon and cut the slots with a router, just slower but as good.

 

[pcb1962]

There's one small point.

If you buy something new for £500 and use it for 10 years, then sell it for £500, you're not getting your money back.

The money you are getting back does not have the value of the money you paid.

£500 ten years ago is worth £655 now (inflation calculator) so it's only cost you 15 quid a year, that's pretty close to costing you nothing.

 

[marcros]

£500 ten years ago is worth £655 now (inflation calculator) so it's only cost you 15 quid a year, that's pretty close to costing you nothing.

And if you really wanted to get into it, what cost 500 then could probably be bought for 350 now, dominos excluded.