How to Price Power Tools for a Yard Sale
A yard sale is an excellent way to clear out those power tools that are collecting dust at the back of your garage. However, deciding what to charge for them may take some work and some research. Yard sales make money, but they don't make you rich. Don't expect to get back what you paid for the power tool when you bought it new, even if the power tool is still in its original box and never used. Instead, expect to be paid a maximum of half its original price and more likely a quarter of the original price or less. Does this Spark an idea?
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Instructions
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Inspect the tools for rust, scratches or other visible signs of wear. Yard sale shoppers look for anything they can point out to haggle down your price. Rust is removable and scratches can be buffed or painted over to increase your asking price.
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Test the power tools. Dull blades, insufficient lubrication or damaged motors will dramatically affect the price you can expect to charge. Any repairs the buyer has to make to have a working power tool, including replacement blades or drill bits, needs to be factored into the price.
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Look at new tools of the same brand and assume the most you can charge is 25 percent to 50 percent of the new price. If the current new price is $100, you can expect between 25 percent and 50 percent, so about $25 to $50.
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Look at websites, like eBay and UsedPrice.com, to find out how much other people are charging for comparable power tools.
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Consider package deals. You are more likely to get a higher price for your circular saw if you include the six different blades you have than if you try to price the blades separately. The goal is to get rid of the large piece of equipment, not the skinny blades you could easily throw in the trash.
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Decide how little you are willing to sell for before you put the power tool in the yard sale. Shoppers come looking for bargains and may offer you less.
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Set your price 10 to 20 percent above the lowest price you will accept and round to the nearest $5 or $10 increment. For example, you will take $20 for your battery-powered drill, so set the price at $25.
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Tips & Warnings
Advertise your yard sale and mention the sale of power tools. Typical yard sale shoppers expect to find $1 and $2 items with the occasional $5 or $10 piece. A $50 circular saw is way over expectation. By advertising, you draw in people who want to spend money on a power tool. Include the brand name, type and price of the tool in your advertisement if you are only selling one or two. Include if the power tools are job specific tools like masonry saws or automotive, if you are selling three or more power tools. This will attract the appropriate shopper instead of a weekend warrior looking for a cheap drill.
References
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