How do you sell inherited tools?
Hey guys, it’s Brad again. So today, we’re talking about dealing with inherited tools. I would say that we’ve run across that quite often. In fact, I’ve got some tools in my own personal shop that I have acquired through estates from homes that we’ve purchased over the years and the heirs didn’t really know what to do with, nor did they want any of these tools.
I’m a little bit of a tool junkie myself, used to wrench on cars back in college. Obviously, now I buy a lot of real estate, flip houses, that sort of thing, and for a hobby, I like to build things. So naturally, I’d like to talk about this topic because it’s sort of something important to me. So if you ask any kind of tool nut, they will tell you that some of the best tools and deals they ever got on tools were through estate sales. I have gotten some pretty good stuff through estate sales. So if you are inheriting a whole bunch of tools, you’re going to want to go through them and I would try to organize them somewhat. I wouldn’t try to maybe necessarily identify things, but it would be better for you to actually sell those tools online as a lot of tools, rather than maybe having a garage sale and selling them with the other stuff. Because a lot of times people like myself, I’m browsing Facebook Marketplace, it was funny, used to be Craigslist, but now it’s Facebook Marketplace on almost a daily basis. I have certain keywords and certain tools that I would like to buy and I constantly search Facebook Marketplace every single day.
Then also, obviously, because I do that, Facebook sort of suggests that to me when I’m browsing it and I’m looking for a specific tool. If you’re not sure what these tools are that you have, you can go on… There’s some helpful websites out there. One of which that I used to… Or I’m a member on. I say I used to, I still am a member. Garagejournal.com is actually an online forum for people who are just gear heads. There are also a lot of different Facebook groups out there, some DIY groups, tool junkies. Another one that I’m in is Harbor Freight Tool Junkies. People like to buy things from Harbor Freight. I buy some tools from Harbor Freight. So if you get in some of these groups, some of those people can tell you what you have.
Also, if you know of a guy who knows a guy who maybe is a gear head or is kind of a handy person, ask them to come over and kind of tell you what you have. They’ll be able to tell you what you have. They might be able to tell you what certain things might be worth. I will say don’t make the mistake and try to sell tools for retail value. I’ve seen some for sale where basically… In fact, there was one I saw the other day. A guy was selling a bandsaw, a powered bandsaw for basically $50 less than I can go buy a brand new one from the store, and it had been for sale for a long, long time. I saw it and I was looking for that specific size bandsaw, and it’s like, no one’s going to buy that from you. If they can go out and buy a brand new one at a retailer for not much more than what you’re selling this five, 10-year-old used one for, they’re not going to buy it from you. So you got to make sure that you’re giving a good deal to the end buyer, if you want to move this product. If you want to just sit on it and warehouse it forever and maybe you don’t really want to sell it, then maybe you should kind of list it for retail.
Also, what you can do is if you have the tool, go find, there’s usually a placard on the tool and you can get the model number and the manufacturer and go Google that. You’re on the internet right now watching this video, right? Google the model number and sometimes you will find listings from old reviews of tool magazines and that sort of thing where they might… This is really more pertaining to power tools. You might be able to find what it sold for originally. You might even find what it’s selling for today, and then you can figure out your pricing from there as to what you should list that for sale.
Also, understand that some tools are extremely, extremely heavy, and I would make sure that the people you are selling it to are capable of dealing with the weight of that tool. So they need to make sure they’re showing up with a pickup truck or a trailer and not maybe trying to show up in a Camry and need you to help them load it in their Camry.
Also, think about accessibility for the tools, how you’re going to get them to a vehicle. I bought a band saw one time many years ago and it was down in the guy’s basement. He had a workshop in his basement, but the problem was his backyard was a steep slope. It was like repelling down a slope. So we had to carry this 200 and some odd pound bandsaw up the basement stairs through his house, out the front door, down the front steps. It was a pretty wild adventure. Me and him and a friend of mine and his 16-year-old son had quite a task to get that thing up the stairs when. He brought it down there originally, that was easy, right? Going down’s a lot easier than going up. So think about that when you are selling stuff.
Probably be better if you’re going to have a garage sale or something, get those things up into a garage that’s easily accessible so that people can… If they do want to buy it, it’s easy to move it in and out. If you have hand tools and that sort of thing, a lot of times it’s better to sell them kind of all together. You could even sell them in the toolbox. You can post these things online for sale on Facebook Marketplace. People will buy them all the… If it’s a good deal, people will buy it. If you’ve posted this thing on Facebook Marketplace and it’s sitting and it’s sitting and no one’s buying it, you’re probably priced too high because I guarantee you, if it’s out there for a decent enough deal, someone will snatch it up very, very quickly. Because there are people just like me who are constantly reviewing Facebook Marketplace on a regular basis to try to find good deals on tools.
So if you inherited some tools, I’d be happy to take a look at them. If you’ve got a house you’ve inherited, I’d be happy to buy that from you. That’s what we do at our core at Probate Resource. Also, if you want to go the traditional route and you want to list that house with a real estate agent, we have a fantastic network of agents all across the country who are probate and inheritance specialists that can help you get your property sold. So whether you’re selling tools, selling a house, selling a car, whatever. If you’ve inherited this stuff, I hope this video is helpful to you a little bit. Go check out probateresource.com and go check out the rest of our YouTube channel. We’ve got a lot of great, helpful content out there to help people dealing with an estate. So thanks again for checking out this video. I’m Brad with probateresource.com. Have a great day. Bye-bye.
How Do You Sell Inherited Tools?
Today, I’d like to talk about how to deal with INHERITED TOOLS. This is something that many of us come across quite often. I have personally acquired some tools through estates of homes that I’ve purchased over the years. The heirs of the previous owners didn’t know what to do with these tools and didn’t want to keep them.
I’m someone who loves tools and has a bit of an obsession with them. I used to work on cars in college, but now I’m into real estate and flipping houses. Building things is also one of my hobbies. As a result, I would love to discuss this topic because it’s important to me.
Best Place To Buy Tools
In my experience, estate sales are a great place to find some of the best deals on tools. I have acquired some pretty good stuff through estate sales.
If you ever inherit a lot of tools, it’s a good idea to go through them and organize them to make them more appealing to potential buyers. You don’t necessarily have to identify each tool, but selling them online as a lot can be more profitable than selling them at a garage sale. Personally, I frequent Facebook Marketplace almost daily to look for tools to buy. I have specific keywords and tools that I’m interested in, and searching through Facebook Marketplace has become a routine for me.
Website Recommendations
Of course, by using Facebook to search for specific tools, the platform often suggests related tools to me. If you’re not sure of the tools you own, you can check out some helpful websites. One such website is Garagejournal.com, an online forum for gear heads and tool enthusiasts. There are also several DIY and tool junkies Facebook groups that you can join to get help identifying your tools. One such group is the Harbor Freight Tool Junkies, where people discuss and share their purchases from Harbor Freight. By joining these groups, you can ask other members to help you identify and learn more about the tools you have.
Pricing Your Tools
If you have some tools that you want to sell, it might be a good idea to get a second opinion from someone who knows a lot about tools. You could ask someone who is a gear head or just someone who is handy to come and take a look at what you have. They will be able to tell you what kind of tools you have and maybe even give you an idea of how much they might be worth. It’s important to keep in mind that you shouldn’t try to sell your tools for the same price as you would find in a store. If you do, you might have a hard time finding a buyer. For example, I recently saw someone trying to sell a used bandsaw for only $50 less than the price of a new one in the store. This is not a good deal for the buyer, and it’s unlikely that anyone would want to buy it. So, if you want to sell your tools, you need to make sure that you’re offering a good deal to the buyer. However, if you don’t mind holding onto your tools for a while longer, you could try listing them for the retail price. But keep in mind that this might mean you won’t sell them anytime soon.
It’s possible to find out the model number and manufacturer of a tool by checking the placard on the tool itself. You can then search for this information on Google to find old reviews from tool magazines or other sources. This is particularly useful for power tools, as you can determine their original and current selling prices. This will help you determine a fair price for selling the tool.
If you’ve posted an item but it’s not selling, it’s probably priced too high. Generally, if an item is out there for a decent enough deal, someone will buy it very quickly because many people are constantly looking for good deals on tools on Facebook Marketplace.
Accessibility And Transport
It’s important to note that some tools can be quite heavy. Therefore, it’s important to ensure that the buyer is capable of handling the weight of the tool. Make sure the person you are selling to has a pickup truck or a trailer to transport the tool. Don’t assume that they can load it into a small car like a Camry.
It’s also important to consider the accessibility of the tools and how you plan to transport them.
I remember buying a band saw many years ago that was located in the seller’s basement. Although he had a workshop there, the issue was that his backyard was a steep slope. It felt like we were repelling down a slope. Eventually, we had to carry this 200-plus pound band saw up the basement stairs, through his house, out the front door, and down the front steps. It was quite an adventure for me, the seller, my friend, and his 16-year-old son. We had a challenging task of getting that thing up the stairs when he brought it down there originally, and it was easy, but going up was a lot harder. Therefore, it is essential to keep the transportation aspect in mind when you are selling tools.
It’s a good idea to move the items you want to sell in a garage that is easily accessible so that potential buyers can easily move them in and out. If you have hand tools or similar items, it’s better to sell them together, and you could even sell them in the toolbox. You can post these items for sale on Facebook Marketplace, and it’s likely that people will buy them if they’re a good deal.
Let’s Connect
If you have inherited some tools, I would be happy to take a look at them.
Additionally, if you have inherited a house, I am willing to buy it from you. This is what our company, Probate Resource, specializes in. Alternatively, if you prefer to sell your property through a traditional method by listing it with a real estate agent, we have an excellent network of agents across the country who are probate and inheritance specialists and can assist you in selling the property.
Whether it’s tools, a house, or a car, if you have inherited property and need assistance, please consider checking out our website, probateresource.com, and our YouTube channel, where we provide helpful content on dealing with estates.
Thank you for watching this video. I’m Brad from probateresource.com, and have a great day!