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Author Topic: Value of equipment  (Read 1338 times)

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Offline D6c

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Value of equipment
« on: September 14, 2019, 05:26:07 PM »
A few months ago I bought a shaper from a guy that was trying to sell of his wood shop (poor health)... only met him once, but was a very interesting person.
A few days ago I got a call from his wife ...he'd passed away and she was looking for help inventorying his equipment and tools.
I agreed, and spent about 3 hrs helping her make a list.
Two of the things I'm trying to put a value on is a Woodmaster 725, and a 36" drum sander.  Both look to be maybe 15-20 years old...dirty but in good condition.  The drum sander was a brand I'd never heard of (can't remember it now).
There is also a pretty large circle mill mounted outside the shop... engine driven.  My guess it's not been used for at least 15 years.  Any guess on value of planer & drum sander?
What info would you need off the mill to value it?
Keep in mind this is in southern Iowa and not in an area with tons of sawmills.
Thanks

Offline WV Sawmiller

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Re: Value of equipment
« Reply #1 on: September 14, 2019, 08:44:49 PM »
   I have no idea about the value of the equipment but want to commend you for helping the widow inventory, identify and price the equipment. It is a shame to see someone spend a life time building up a shop full of quality tools and equipment only to see his heirs get pennies on the dollar for it because they don't know what it is or what it worth or who to contact to sell it. Well done and keep up the good work. Good luck on finding the prices you are searching for. 
Howard Green
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Offline Resonator

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Re: Value of equipment
« Reply #2 on: September 14, 2019, 09:31:44 PM »
I would check the usual places (CL, fleabay, etc,) and see what similar equipment is selling for. With older equipment the "OBO" price may be the best you get. Also you could try to find places that liquidate industrial woodworking equipment, or find an auction appraiser who could give you a number to start with.
Under bark there's boards and beams, somewhere in between.
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Offline D6c

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Re: Value of equipment
« Reply #3 on: September 14, 2019, 09:46:36 PM »
The woman doesn't seem to have a lot of family in the area.  One daughter only but she's in Texas so can't be a lot of help.
She's in the process of moving now and is thinking of trying to put together an auction next spring.  There is a LOT of other stuff to sell too...collector cars, tractors, etc and lots of junk.  Pretty much an overwhelming task for a little bitty woman about 70.
An auction co. will take a large share if they have to help organize a sale.

Offline Southside

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Re: Value of equipment
« Reply #4 on: September 14, 2019, 09:49:12 PM »
I have a 725 so I know what it cost, based on what you describe if the bearings and bushings were good, rolls in good shape, everything worked I would give $1K, maybe a bit more if there were some spare blades, the pro pack type stuff or other accessories.  

The drum sander is actually interesting to me, but the issue would be getting it here, sometimes the freight can really kill a deal.  

Edit:  Just checked - the 725's are on sale for $4K brand new right now FWIW
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Offline thecfarm

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Re: Value of equipment
« Reply #5 on: September 15, 2019, 08:08:12 AM »
Yes,they would take a good share,but at least she would not have to deal with it.
It's good you are helping her and not have someone buy something for $500 when it's worth $4000. :o
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Offline D6c

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Re: Value of equipment
« Reply #6 on: September 15, 2019, 08:26:20 AM »
Yes,they would take a good share,but at least she would not have to deal with it.
It's good you are helping her and not have someone buy something for $500 when it's worth $4000. :o
Didn't want to have someone claiming I took advantage of her so I told her if there was anything I was interested in, I'd bid on it at auction like anyone else. 

Offline DWyatt

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Re: Value of equipment
« Reply #7 on: September 16, 2019, 07:31:21 AM »
I have no idea on the prices, but you are a good person. So many people get so stuck in their own world and forget about how overwhelming such a process is for an elderly person. Your 3.5 hours could have taken her weeks.

Offline TKehl

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Re: Value of equipment
« Reply #8 on: September 16, 2019, 10:03:46 AM »
Here are my opinions:   ;)

Woodmaster basic 725 should bring $1500.  Will sell quickly at $1000 (week or 2).  Especially if it has a spiral cutterhead, or other accessories.

Drum sander:  $1k?  

Sawmill $500-$5k.  Saw a "most of it's here" with rotted timbers mill go for $425 a year ago.  If it's on steel and the engine isn't stuck, price rises.  

Prices above are if sold through CList or FB market individually.  If sold at auction, expect 25-50% of the values above.  Much better sold online than a farm auction.  (From the guy who has paid for most of his shop tools by flipping woodshop tools from auctions.  ;D)

FYI, I'm looking for an commercial duty planer if there is one there.  (Oliver, Fay and Egan, Buss, etc.)  
In the long run, you make your own luck good, bad, or indifferent. Loretta Lynn

Offline farmfromkansas

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Re: Value of equipment
« Reply #9 on: September 20, 2019, 07:21:57 PM »
Have noticed that equipment is selling very well on Big Iron auctions.  A neighbor's farm equipment, construction equipment and everything did very well last spring.  They received quite a bit more than they expected from the sale.  Big Iron reaches so many more people than a local auction notice, and they post a good number of pics of every piece of equipment. Worst part is, if you bid and win, you have to travel to the site of the sale to pick up your stuff.  I have made road trips 3 times this last year out of state.

Offline ManjiSann

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Re: Value of equipment
« Reply #10 on: November 12, 2019, 09:22:08 AM »
D6c, your integrity is commendable!  

How did it all pan out?

Brandon 
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Offline richhiway

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Re: Value of equipment
« Reply #11 on: November 12, 2019, 05:14:13 PM »
The best way to sell estate items today is on a online auction. The auctioneers will handle everything and it opens you up to a large market.
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Offline D6c

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Re: Value of equipment
« Reply #12 on: November 12, 2019, 05:34:30 PM »
D6c, your integrity is commendable!  

How did it all pan out?

Brandon
I think she's been trying to sell a few tools  individually but I don't how much has sold.  Her intension was to do an auction next spring or summer.  The problem I see with doing this is the good stuff will sell first and not leave you with enough stuff to draw enough people for a good auction.

Offline Bandmill Bandit

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Re: Value of equipment
« Reply #13 on: November 12, 2019, 07:17:35 PM »
I would give Ritchie Bros a call. They have expanded to doing on site suctions and they are very hard to beat for general and total service to get positve results.

I have been to several local farm auctions this summer that were handled by them of people I know. They told me that Ritchie's saved them time, a lot of money ($1000.00s) compared to some other auction service corps that they contacted. 

Ritche's know prices very well and they give global coverage in all their sales. I watched 4 out of 7 very good condition cars/pickups went to buyers from over seas. A 1972 VW Beetle in show room condition went to Europe for 17000 CDN and a old Fordson Major went to Australia for $11,000.00 and change. Every thing was MINT.          
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