How do you price used tools? Want to figure a fair price for craigslist

Downsizing my garage and trying to figure out how to go about selling on craigslist.

My local craigslist (New London, CT) is not very active so not sure how to figure out what would be a fair price to list, and how much to discount in case somebody wants to negotiate.

Just curious how you guys are pricing stuff for sale. Do you take a retail price and than take some percentage off, or search for what other are selling their stuff for?

I'd like to get some money back, but don't want to ask too much cause than I'd probably have to sit on it for months and deal with a bunch of flakes and clowns.

Anyways, advice appreciated.

I always check eBay for my items and look at completed auctions. What items sell for can differ wildly from what people ask. Items that actually sell on eBay will give you a decent idea for what people will pay. After I get a ballpark figure I realize that a local audience on Craig's List is vastly smaller than the number of people looking on eBay so I will ask maybe ~75% of the eBay selling prices. Still, you may have to adjust as necessary so be flexible. Putting an OBO on Craig's List certainly doesn't hurt because you can still get offers with the ability to say no if you just don't like it.

As you realize too many people ask way too much on Craig's List and you see those items recycled week after week after week never selling. Be fair to yourself and if you don't like what something will sell for then just either hang on to it and try again later or consider selling on eBay assuming shipping them is feasible.

BTW, what type of items are you selling? The classified section here is very handy in getting tools at a fair price to people who will use them and I bet you will find interested parties that are members here if you try.

Edit: One more thing; I can't emphasize how important it is to post both quality and quantity of photos. Good pictures from different angles are what develops interest so make a good effort here. Solid descriptions with specifications and age/condition are also very important. Good listings are the difference between lots of people checking them out and an empty in-box.

Good luck.

balane makes a good point. dont expect to sell if you are close to retail price. People go on craigslist to find deals and they will try to talk you down!
Craigslist will always haggle you down or even lowball. Its like an unwritten rule lol. I always mark up to higher end expecting offers and I always give them my unlisted fair price. So if I want 75-80 for a ratchet I post 100 obo. If I post 80 dollars, I will get 40$ offers all day.

balane said:

I always check eBay for my items and look at completed auctions. What items sell for can differ wildly from what people ask. Items that actually sell on eBay will give you a decent idea for what people will pay. After I get a ballpark figure I realize that a local audience on Craig's List is vastly smaller than the number of people looking on eBay so I will ask maybe ~75% of the eBay selling prices. Still, you may have to adjust as necessary so be flexible. Putting an OBO on Craig's List certainly doesn't hurt because you can still get offers with the ability to say no if you just don't like it.

As you realize too many people ask way too much on Craig's List and you see those items recycled week after week after week never selling. Be fair to yourself and if you don't like what something will sell for then just either hang on to it and try again later or consider selling on eBay assuming shipping them is feasible.

Click to expand...

Yeah, good point to discount from ebay sold price. Too many overpriced stuff on craigslist I see listed for months.

balane said:

BTW, what type of items are you selling? The classified section here is very handy in getting tools at a fair price to people who will use them and I bet you will find interested parties that are members here if you try.

Click to expand...

For now, a couple pallet stackers/lifts, and extension ladders. There will be more - metal working/wood working/material handling/ car tools. Have all my stuff palletized after a recent move, so I'll need to start breaking down pallets and figure what "extras" I can get rid of. Having too much stuff did not bother me till I had to move my shop, but now I'd rather make do with less if I can

Have a parking lot sale and you will spend less time selling things off. It may take a day of your time buy Craigslist will take forever with all the people asking and trying to get you down in price.

Half price is not a bad place. You can ask 60% of retail then drop it 10 percent to make people happy. Snap-on tools bring half price or more but woodworking toold don't bring 30 cents on the dollar. The market is flooded with hand tool, ladders and the like.

E bay is all over the place but does set the international market. If you are in a location that does not have many swap meets or yard sales then you will get more for you items.
Good old supply and demand. Check Craigslist to see if there are any items like yours in your area. You can't price it over what others are asking. You can but you will not sell anything if you do.

Small items will bring top dollar on eBay, even after paying fees, so I would only use Craigslist for big stuff.

GarageWarrior said:

...snip...

deal with a bunch of flakes and clowns.

Anyways, advice appreciated.

Click to expand...

if you expect to sell on Craigslist, first thing is to expect to deal with a bunch of flakes and clowns and idiots... that's just the rule of the game on CL. no matter the price you ask, what quality of pictures you post, or how descriptive you are... for those reasons alone, i always ask for more than i really want; i consider it my "tip" for dealing with the clowns and idiots. if i find someone who is polite, shows up with cash on time, and doesn't ask a million questions that are already answered in the ad posting, and he asks me if i can give a discount, i'm happy to do so.

but these days, i just don't care to deal with CL anymore... if what you're selling fits in a USPS flat rate box, order the boxes (free) online, list your stuff on ebay and when they sell, schedule a pickup for your delivery. very simple, don't have to make multiple trips to the post office, etc. when you list on ebay, you can also filter out potential buyers that might be problematic (poor feedback, etc.).

Craig's list is real bad out this way, you occasionally meet some good people but for the most part it's a bunch of weirdos you really don't want by your house or resellers that make ridiculous offers so they can sell it on eBay (or wherever). Just had a guy call me yesterday about a pump and offer less than half, I asked if he would pay double the asking price, he said no, so I asked why he thought I would take half the asking price. He said he'd think about it and get back to me, I'm holding me breath waiting for the return call.

Go with eBay or if it's cheap stuff donate it at Goodwill and get a write-off on your taxes, I'm there once a month or more dumping import junk off, so much better than dealing with the craig's list crowd.

I agree whenever I sell something on cl I expect to get a whole bunch of lowball offers. One thing specifically I was trying to sell some brand new in the package CFL candleabra base bulbs, I looked at lowes and saw they were selling for $6 a piece so I priced my bulbs at $2 a piece. Someone emails me and tells me they will give me $40 for all of them, I have 80 for sale. Sometime's I can't believe people will make such ridiculous offers for stuff. Needless to say always ask a little more than you want if you are listing on CL. Like other people have said ebay is good for some things, you could do a tool lot auction I always enjoy looking at those! Don't forget the classified's here! Good luck on your sale's

Great timing on your thread. I'm in the same boat... way too many tools.

I have to get rid of 2/3 or more of my accumulation. I think 50 percent of current new price is where I will set my prices unless there is already a strong market determined price (such as with vises). My prices will be fairly firm unless somebody wants to fill up a shopping cart.

I will probably put everything in the CJ classifieds because I know you guys appreciate and know the value of good quality American made tools. I may have exactly what you need to fill the gaps in your collections.

I guess my goals are to get rid of them with minimal hassle and confusion to someone who will appreciate them, and not get ripped off.

I am a Craigslist addict, and look at my local and surrounding areas probably four or five times a day. Some suggestions:

Always include photos. I won't even look at a listing if there isn't a photo. The photo should be organized, not tool crowded, clear and well lighted. It is incredible how stupid some people can be taking several pictures of a pile of dirty, greasy tools inside a tool box drawer in the corner of a dark garage, one photo taken at 90 degrees, another at 85 degrees, another at 80 degrees, then a closeup of a 1/2 Craftsman wrench.

Keep your descriptions brief. I don't need to be told how precious and rare your items are. If that meant something to me, I'd already know about it, or you could explain it to me when I call.

Don't have a dozen listings for a dozen individual tools. On the other hand, don't have a list of 100 tools in the same listing. Figure out who your buyers will be and group your listings accordingly. A guy looking for ball pein hammers doesn't want to scroll through a bunch of screwdrivers, pliers, sockets and wrenches.

Make it worthwhile for the person to drive 50 or 100 miles to check out your stuff. I have passed on many $10 and $20 items listed separately simply because it would cost me that much or more in gas just to see them. If I knew the same seller had, say, $100 worth of tools I wanted, I am already flying out the door to see them. I may still offer $75, but I will probably pay the asking price in order to make the trip worthwhile.

Please include your phone number. I hate the Craigslist email system. It means that I will only hear from you at some unknown point in the future, maybe after the items were sold. And I might not ever get your return message because I'm not near my computer.

Please include your location in general terms so I have some idea up front which town you're in, which direction to go. We can pinpoint the exact spot later.

One last thought. The first responder might be the best. He might be the guy who missed out on another deal because he didn't want to pay the extra five dollars. Now he knows better. He knows what he wants and what you are expecting. He doesn't want to go home empty-handed again.

Have fun, let us know how it goes. I'd like to learn from your experience as a seller.

Dan
Indio, CA

Dan, some good suggestions on listings! Thanks!

So today ...a month later, I finally got around to listing a few bigger/bulkier items - sure did take take a while to get everything organized, clear out room for taking pictures, putting together listings, pricing....

On pricing - hand-tools in excellent condition - figure I'll start about 50% off retail and go down from there if it does not sell in a couple weeks, or 60-80% off retail if there is visible wear. For used machinery - I guess I'll be happy to get 20 cent on a dollar. Seems like that's what it's selling for around here. Will give an update on how it goes.

GarageWarrior said:

So today ...a month later, I finally got around to listing a few bigger/bulkier items - sure did take take a while to get everything organized, clear out room for taking pictures, putting together listings, pricing....

.

Click to expand...

So how about a location so we can search out your ad? Even better a search word string.

lg
no neat sig line

larry_g said:

So how about a location so we can search out your ad? Even better a search word string.

lg
no neat sig line

Click to expand...

Buddy, I'm in CT, probably a bit too far for you

---
Report to date -
Sold 28' fiberglass ladder the next day after getting it listed. Lessons learned - extension ladders on craigslist are selling like hot cakes Had a bunch of people contact, including some low-ballers and odd trades like a cord of firewood, lol I don't even have a house or a stove but thanks anyways. Got about 45% of what it cost new in-store price. It was 13 years old but in excellent condition, so guess that made it a good deal for somebody. Could have gotten a bit more, but it was good to get the ball rolling on clearing out the space and getting rid of stuff I don't currently need, although there is always that "what-if I'll need it in the future" thought .

No takers on garden tools, probably because of the season. Have a whole stack of those - shovels, pitchforks, rakes, hoes . They are cheap enough that I question whether I should be even bothering to selling them at all... it just bothers me to throw away good functional stuff

Also got a couple pallet stackers listed - a few guys were interested but looks like they'll take a while to offload. I thought there'd be more interest at 1/5 the new price for fully functional working units, but guess it's a niche market.

Back when I was buying old tools for my shop like saws and such I would figure up the value this way. I would start at half the replacement cost. In other words if a new saw was 1000 I would start with 500 in value. If it had 200 in extra add ons I would then add about half that. if it was spotless and new I would add on a little extra. So if it was 500 value, 100 in extra addons then about 100 in the machine being new I would max out at about 700,maybe a little more if I really wanted it.

But if the saw was 500 replacement and had a bad motor that would cost 300 to replace it would be worth no more than 200. Then if it was rough I would take off for that. What I found out was this was a good formula for me. I found out if most people were not trying to rip you off this estimate would usually be able to buy stuff. I am kind of leary of ebay prices. I see stuff offered for way higher than the value that never sales. I have been looking for a TV shop sign. There is one that has been priced really high for the last year that never sales. He has cut it to about half the original price he put on it and still no offers.

I find it true for equipment -- cars, generators, etc -- rather than smaller, simpler items like wrenches, that the lower you start the lesser the interest your post draws. In my experience, it seems that a low [fair] price for an item automatically means something's wrong with it, or it doesn't run. Start high with the expectation that you'll end up getting haggled to around about the fair price, and Craigslist works like a charm.

Case in point. I get old beaters sometimes and turn them into something a little bit nicer than a beater. My first one I sold on Craigslist I asked 800 dollars. An ugly old Dodge Spirit that I'd coaxed, with minimal effort, into running like a top. It got a reply or two, but no real interest. I ran the exact same ad a month or so later, but marked my price up to 1500 OBO (the kicker). The car sold in a week for a little over 800. The next one I had, an Accord, same thing. I'm convinced.

It's worth a thought. However, I've found almost everything else is comparable to Ebay (the gold standard, it seems), if a little bit cheaper on the whole.

I usually price the item at a price I am comfortable selling it for.

jmm said:

I find it true for equipment -- cars, generators, etc -- rather than smaller, simpler items like wrenches, that the lower you start the lesser the interest your post draws. In my experience, it seems that a low [fair] price for an item automatically means something's wrong with it, or it doesn't run. Start high with the expectation that you'll end up getting haggled to around about the fair price, and Craigslist works like a charm.

Case in point. I get old beaters sometimes and turn them into something a little bit nicer than a beater. My first one I sold on Craigslist I asked 800 dollars. An ugly old Dodge Spirit that I'd coaxed, with minimal effort, into running like a top. It got a reply or two, but no real interest. I ran the exact same ad a month or so later, but marked my price up to 1500 OBO (the kicker). The car sold in a week for a little over 800. The next one I had, an Accord, same thing. I'm convinced.

It's worth a thought. However, I've found almost everything else is comparable to Ebay (the gold standard, it seems), if a little bit cheaper on the whole.

Click to expand...

That's interesting, my experience been much different, may be depends on the area. I do start off my listings a bit on the high side and there is usually only a lukewarm interest - can have an item listed for months and it would not sell. My last forklift I've been selling for two months, and even though it was just may be a tad on the high side it would not sell ...than dropped the price by another 10% and there are literally 5 guys trying to beat each other to the door and willing to pay full asking price.

I've been selling a lot of stuff recently and now don't even bother to play any pricing games - saves a lot of time and hassle - just take pics, look at comps, put up an add - if somebody shows up cash in hand - good , if it's a bunch of craigslist flakes, run arounds and no-shows I know the price is still too high, no big deal - pull the listing down and re-list in a week for 10% less. At the right price selling is EASY. That's just my recent experience. I wasted a lot of time when I was younger trying to sell stuff for too high a price.

On your garden tools, look for Goodwill, or a Habitat Resale store! They will go quickly!

Patience is the name of the game when selling on CL.

If I am selling something that is still available new, I look and see what it is currently selling for, and then price according to the condition of what I've got. If I'm selling something that is brand new, or nearly brand new, I won't hesitate to ask 80-85% of retail right off the top. At the very least, it gives me a little wiggle room on pricing. If it is something that has been used more than a handful of times, I'll probably start at about 60-70% of retail if it doesn't look like its been rode hard and put away wet.

If it is an older item, I'll look around on here, eBay, etc., and try to get a good starting point, or for items like sockets and wrenches, just price them according to what I'd give for the item in that condition, plus enough wiggle room to get what I want out of it.