Fair market value - Shop Assistance program

[bshilkitus]

Hi everybody.

Unfortunately about 2 years ago a dear friend was kill unexpectedly in an automobile accident. He had a well equipped shop. Just recently his widow and I discussed the need to sell his equipment to supplement her income. She is wheelchair-bound and needs in-home help. (Not making this up).

There are several large tools along with a seemingly unending supply of "smalls". I have already sold some more manageable stuff like the hand power tools. Generally items unopened or in new condition sell for 50% of original price and fairly used items for about 33%. I am having a difficult time valuing the big stuff. I thought about just having an auction company come in, but after fees, I would rather sell things directly to woodworkers. I am a novice woodworker and do not have the skill or space for these large items.

Some of the bigger stuff include:

Delta DC-380 planer
Delta 37-380 8 inch jointer
SawStop 5HP 52 inch Professional cabinet saw
Jess-em Router table with Master lift
Huge dust collection system from Oneida
Large Delta band saw 52-977 (maybe)

Everything is used but from what I remember, well taken care of and in good working order. I have not testing these tools except the table saw which works perfectly. I honestly don't know how to test them.

I am looking for advice through the Shop Assistance program at the recommendation of one of the NCWW site administrators.

Thank you all in advance. I have pictures if anyone needs them. His shop is in Vass, NC.

-Bill

 

[DanR]

Hi Bill,
sorry to hear about your friend. I usually look in the classifieds here and on sawmillcreek to see what things have sold for. I bought the Delta Planer that is just like the 380 except 14" instead of 15" like your friend's. I paid $300, so if it is in great shape probably $500. I don't know what the going price is for the rest.

 

[DanR]

One more thing: it is important to tell people if things are 120V, 220v, or 3 phase.

 

[bshilkitus]

Thank you so much Dan! I will check on the voltage when I get back there later this week. I know his table saw was hard wired 220 but not sure about the other stuff.

 

[jlimey]

Bill,

Also sorry to hear about your friend.

I think larger stationary tools sell pretty quickly at 50% of new. I will take the Sawstop at that price if the electronics seem to work! (seriously)

I think at 60%, they will sell if patient, 50% they will sell pretty quickly, and less than that you will have multiple takers. This assumes that they are in good working order with no rust.

Good luck

Jeff

 

[bshilkitus]

Hi Jeff,
I agree with you regarding pricing. I have not sold any large items yet. The 50% off original was really from the small tools. If you really want the SS, I can take more pictures. I have tested and it works perfectly. I would be happy to meet you at his shop in Cameron/Vass if you wanna look at it. I think $2500 would be fair all around. Just let me know. It is 220 and hardwired, 52 inch 5HP

-Bill

 

[KenOfCary]

That sounds like a really nice SawStop saw and should probably be worth a premium above 50% of original/current price. Unless it has rust issues or other defects, it should probably get a premium price of around 60-70% of current cost. This is one piece of equipment that retains more value than others. Don't sell it too cheap.

 

[bshilkitus]

Thank you Ken, I think I will sit on it until I hear from you all through the shop assistance program.

 

[Phil S]

We have a Shop Assistance program that was developed just for this. Could we get a small group of volunteers to go to the shop in question and make sure all the machines are ready to sell. That would require cleaning, possible lube and rust removal, gathering up all the parts, accessories and manuals that should be with each tool.

It really should only take an afternoon - remember someday you may need help too.

 

[jlimey]

Phil,

Unfortunately I just had to do this for my sister when her husband passed away unexpectedly. I know how grateful she was for the help, so if this is on a weekend, I could lend a hand. I imagine that these machines are at least put together!

Since I might be interested in the Sawstop, I would recuse myself from setting its price. I would take the opportunity to paw it however!

 

[bshilkitus]

Thank you all so much!

I will contact his widow and see what day would be could t have a group go to the shop. Again, it is in Cameron on a large property.

Another hurdle would be how to get these machines transported.

Thanks again,

Bill

 

[allisnut]

Another hurdle would be how to get these machines transported.

Bill

That's generally the buyers problem!

 

[Jim Roche]

I may be interested in the dust collector but would like some more information whenever you get a chance. The model number along with the HP would be helpful.

Thanks,
Jim

 

[bshilkitus]

Thank you everyone for your help.

I will be contacting my friends widow and I will try an arrange a Sunday afternoon in the near future when maybe some of you could meet me there, as Phil S suggested, and go over the large items.

I am in awe of the goodness of the people in this forum and your willingness to help a complete stranger.

-Bill

 

[KenOfCary]

I've been in contact with one of our Board Members that is very close to this shop in Cameron, NC. Her contact info here is Berta and she is willing to contact you and provide assistance in valuing and organizing the equipment. It is really important to put related stuff together and not sell pieces without their supporting items. This is the kind of assistance that a helpful and knowledgeable person can provide.

Unfortunately Berta is out of town temporarily and although she is very willing to help, please contact her via PM (Private Message on this website) or me and she will be happy to help once she is back in town early this week. Please reach out to her directly if you can. She could use your contact information to be able to further help.

We at NCWW are very willing to help and provide the assistance needed to make this a less traumatic transition and hopefully maximize the value of the estate. All of this of course is contingent on our volunteers willingness to help and that is usually not a problem as we have many volunteers who will help without expecting remuneration. We all will have this same problem at some time and would expect the same.

 

[bshilkitus]

Great, thank you!

 

[bshilkitus]

Great!

 

[bshilkitus]

Thank you.