Fair pricing question

[Tomc938]

I have a Starrett 425E bore gauge with handle and inserts. Works as should. With box.

Any suggestions on what I should ask for it? First Forum price, then Craigslist price. )

Want a fair price. One that myself and the buyer would be happy with. I know this is very subjective, but guesses would help.

 

[Former Member]

Look it up for a new unit, judge the condition and price what you think is fair.

 

[Mcgyver]

Simple Answer: $100

Blowhard answer:

Just let the buyer tell you what is fair Fairness isn't a number, it is a view from one spot.

What I've found works, is look at the new price. As a rough guide, if its new, unused original packaging etc, 50% of retail. Used good condition , 20-30%. Adjust from there and check against ebay completed sales (discount them 25%)

Once you get outside of what would be in a guys tool box (i.e. the stuff the shop supplies), the price can plummet. For things like Mit bench centres or a bench mic think 10-20% of new. It's a Thin market as its business buying them (mostly) and businesses send a PO to Bobs tool supply not futz about driving to people houses on kijiji.

Then there's how long you are willing to wait. There's a price that is fair for me if you want me to get in the car today, and price for the guy who absutely has to have it....but finding that guy can take a year.

 

[Tomc938]

Look it up for a new unit, judge the condition and price what you think is fair.

Looked it up a while back, couldn't find the same model still for sale. Ebay, yes, but that's a gong show usually.

Did some more looking, found it on Amazon for $13,000! (Of course that's Pesos, but still - $900!)

 

[Tomc938]

Simple Answer: $100

Blowhard answer:

Just let the buyer tell you what is fair Fairness isn't a number, it is a view from one spot.

What I've found works, is look at the new price. As a rough guide, if its new, unused original packaging etc, 50% of retail. Used good condition , 20-30%. Adjust from there and check against ebay completed sales (discount them 25%)

Once you get outside of what would be in a guys tool box (i.e. the stuff the shop supplies), the price can plummet. For things like Mit bench centres or a bench mic think 10-20% of new. It's a Thin market as its business buying them (mostly) and businesses send a PO to Bobs tool supply not futz about driving to people houses on kijiji.

Then there's how long you are willing to wait. There's a price that is fair for me if you want me to get in the car today, and price for the guy who absutely has to have it....but finding that guy can take a year.

Thanks, that is helpful. Less vague than I was expecting most answers to be. (I know, it's a subjective question)

So there's one on EBay New for 675 USD. Discount that 25% equals the exchange from USD to CAD.

The box is worn, but nothing wrong with the unit. Assuming not much of the value is in the box, I would say good used condition. Split the 20-30% and go with 25% gets me to $165. This is an unusual item, so either not a lot of people looking for one, or it's a unicorn of priceless valve.

I would assume less demand, and while I've had it for a while, and can wait longer, I would also like it to go to a good home.

Would $125 seem reasonable to folks here for a member price? And $150 "on the line"? (full disclosure, someone here has expressed interest, so let's try and be fair to both parties. )

Thanks for the input. These are not easy to value unless it's an every day item.

 

[Mcgyver]

I might not have given good advice - didn't realize they were that much new. I've even got one somewhere (hehe, I'm rich and didn't even know it!) Plus, all gearheads will want one...and there are more of them than HSM's. Machinist tool pricing experience is where my rules of thumb come from and they break down outside of that. I don't think this particular one needs discounting for being unusual. That can fetch a premium...i was more getting at the really expensive machine shop stuff wouldn't be in individual's tool boxes but we be shop owned.

 

[Tom Kitta]

Yes, 100 CAD is a fair price. I had similar internal bore gage but made by Mitutoyo for around $100 in Calgary on auction, I know as I bid on it. It is up to 1 thou so not too expensive - I assume say one that is a tenth would be more. I bid up to 80 and lost.

Of course you can always argue Starrett >> Mitutoyo.

To someone that needs it --- it is worth WAY more.

 

[Susquatch]

I agree with McGiver's blow hard approach! Too funny!

Something in good working condition but not new in box is worth around 50% of today's new price on Amazon or ITM. New in box maybe 75% in perfect condition. Something well used but still functional maybe 25%.

For that item, I would have said 250 for members and list it for 400 on the market but be prepared to take 350.

I don't think auction prices set a fair price. Auctions are usually very low cuz you don't really know what you are getting. Even something that looks new might be broken.

My two cents for what it's worth.

 

[Tom Kitta]

I agree with McGiver's blow hard approach! Too funny!

Something in good working condition but not new in box is worth around 50% of today's new price on Amazon or ITM. New in box maybe 75% in perfect condition. Something well used but still functional maybe 25%.

For that item, I would have said 250 for members and list it for 400 on the market but be prepared to take 350.

I don't think auction prices set a fair price. Auctions are usually very low cuz you don't really know what you are getting. Even something that looks new might be broken.

My two cents for what it's worth.

I usually not pay more than 10c on the $ or maybe even less if I cannot test it.

All other things I test. I.e. I make sure it all works. There is no way you can get more than 50% for measuring equipment that is used without waiting for months or years.

On eBay you do have these outrageous buy it now prices but you see people do not buy for years.

I have brand new, in a box Skoda live center MT4. I am asking for 1/3 of new price (150 CAD) I cannot sell it for a while. I have new bridge reamers listed at less than 1/3 price of new - and they are new, in protective covers and boxes.

I did not buy that bore gage for $100 even through I did test it - I already have one, so unless price was super low I did not feel like having more than one.

You can always start high and lower the price - who knows, you can get lucky!

 

[Former Member]

I checked ebay and there are several units for sale, $80-90.

 

[trevj]

I usually start with looking at the "sold" listings on Ebay. I look at the new cost. And I try to figure out if I want it gone, or want to maximize my return. And how much time I am willing to hold it for, waiting for the 'right' person to find it.

Personally, that looks like an easy $100, or in the next six months, maybe $300-$400. Depends what your goals are...

 

[Tomc938]

My goal was to pass it on at a fair price to someone (hopefully) on the forum.

We have accomplished that. Thanks to everyone for their input. I know these are not black and white questions, but the discussion is also part of the fun!

 

[trevj]

My goal was to pass it on at a fair price to someone (hopefully) on the forum.

We have accomplished that. Thanks to everyone for their input. I know these are not black and white questions, but the discussion is also part of the fun!

Yes, yes it is!