Shopsmith Forums

Hi again! Was looking at a possible purchase of a seldom used SS. Near as I can tell, it's a 510 with bandsaw, scrollsaw, and SS power station. I know it's not the pro fence and table upgrade. The widow knows absolutely nothing about her late husbands SS, so she can't tell me anything about it. The pieces look to be in excellent condition. The widow is asking $2500.00. The ad stated there were a lot of extras, but there's only 3. I don't think its worth it, maybe a 1000, but not 2500.

I was hoping that it would have all the accessories or at least most of them. I was sent more pics today and was disappointed in the number of "accessories".

What do you all think would be a reasonable counter offer?

Even if I bought for a 1000, upgrades to table, double tilt, and PP would put it at a sizable outlay of money.

Not even $1000 this time of year! What one asks for is often based on what others are asking for but not getting. Probably $800 or so if it is in really good condition. Remember, this is January and only retired, dedicated, die-hard Shopsmith owners or wanna-bees are looking to buy. The buying season starts in late March and lasts through August and then drops off. If you track pricing and sales you will see a huge spike in around May on what people are willing to pay and it drops off in October and then spikes again the next year.

This is the time to buy not the time to sell. So this is the time to buy from her. She will never get $2000. Not now, not ever. If she waits until April she may get $1200.

Holy Cow! I didn't think SS's were seasonal like boats or motorcycles. I know I wouldn't want to pay more than $1000, but I would feel bad about offering less than 1/2 of what she is asking.

I'm suppose to call back tomorrow with my answer after seeing the other photos she sent me. I guess I'll just decline purchase instead of counter offering, unless she presses me to counter.

pieceseeker wrote:Holy Cow! I didn't think SS's were seasonal like boats or motorcycles. I know I wouldn't want to pay more than $1000, but I would feel bad about offering less than 1/2 of what she is asking.

I'm suppose to call back tomorrow with my answer after seeing the other photos she sent me. I guess I'll just decline purchase instead of counter offering, unless she presses me to counter.

First show her what has sold recently on e-bay etc. Then decide whether to counter offer.

I'd say if you are being fair and since you mentioned widow, I don't think anyone is looking to steal a deal here. Unfortunately, for the seller used equipment doesn't hold the value to make it $2,500. She'll most likely never sell it.

In good condition, here's my valuation:
Mark V 510 - 400-600
Bandsaw -125
Power Station -200-250
Scroll saw -150

So that is about 900-1100, but I probably wouldn't pay that much myself, but then again I own more than one.

I'd take her copies of this ad http://atlanta.craigslist.org/sat/tls/3479185772.html on CL (or have her look at it on her computer if you are not there in person) and tell her that it's still sitting after a month.

Tell her that you understand that the saw was her husband's and as she admits she knows little about it's current market worth, but if she takes some time to check around to see how much others are asking and how long they stay unsold, that maybe she might want to re-think her asking price.

Leave it to her to get to the 800 to 1000 mark on her own. If instead she asks your opinion, then be realistic and offer what you feel is what you would pay for the same thing. Let's say she won't take less than 1200 and you say okay and next week you see the same setup and it is 800. How will you feel. Like you paid 400 too much or that the extra was not a big deal and you are happy no matter the price. If she feels good about the price she sells it for and you feel good about the price you paid then all us well. If you think that if you found the same thing a week later at 2/3 the price and you think you might feel cheated (cheated nay be too strong a word, but you get the idea)then don't buy it for more.

1. If she won't come down to what you are willing to pay, are you willing to wait? How soon do you have to have a SS setting in your shop / garage?

2. Is the difference between what she will take and what you are wiling to pay a significant (at this moment) amount in your world?

If she is adamant in getting more than what you honestly feel you should be paying (or more) then thank her for her time and wish her well. Tell her that if she wants, you'll check back in a month or two to see if she has changed her mind. That way she gets to decide her price without you being construed as pushy or greedy.

Just my 2 cents

Ben

To the widow that Mark V is worth every penny that was paid for it. I paid $1299 for my Mark V and have receipts to show that. I have all of the manuals and paper work and accessories that came with it. It has been well cared for all these many years. It has never been left out in the weather and I spilled a beverage on it only once. That resulted in a "NO BEVERAGES IN THE SHOP" rule.

When I am gone, I hope one of you guys stops by to give my wife what she thinks it is worth. She won't accept a check so bring lots of cash. Bring lots of cash because there is more than just a band saw and Mark V.

BTW, the Mark V is now a 520 with big red wheels. It can be pushed around the shop with just a little finger pressure. The rip fence has been exposed to a revolving saw blade.

dusty wrote:To the widow that Mark V is worth every penny that was paid for it. I paid $1299 for my Mark V and have receipts to show that. I have all of the manuals and paper work and accessories that came with it. It has been well cared for all these many years. It has never been left out in the weather and I spilled a beverage on it only once. That resulted in a "NO BEVERAGES IN THE SHOP" rule.

When I am gone, I hope one of you guys stops by to give my wife what she thinks it is worth. She won't accept a check so bring lots of cash. Bring lots of cash because there is more than just a band saw and Mark V.

BTW, the Mark V is now a 520 with big red wheels. It can be pushed around the shop with just a little finger pressure. The rip fence has been exposed to a revolving saw blade.

I'm on my way! ....uh, can you help me load it before you go.

pieceseeker wrote:I'm on my way! ....uh, can you help me load it before you go.

OK, that's gonna leave a mark!

steve

Well, I returned the call to the widow about the SS. I didn't try to explain in detail why I couldn't buy at that price. I was going to play off of her reply, but she said OK to my decision. I just said I'm sorry and good bye.

I feel better about not trying to counter her price, I'm not built that way anyway. I think that it's better for her to find out the buying value for herself after waiting for more calls and not being able to sell.

Personally, if her late husband had every major accessory available from SS for his machine, it may have been worth it. It wasn't obvious what accessories he had, looking at the 1 photo provided. But his wife used a middleman initially to post the ad, and it was said to me in my first conversation that her husband had every accessory available from SS and the price totaled $9800.00

After talking to her personally, she knew nothing about the machine and didn't even have a real SS receipt or an itemized list of what was purchased. Just a number on a piece of paper.

I don't blame her in her grief, but she'll need to get a little more knowledgeable in what she is selling and what it's really worth.

I am going to be very picky about what I buy and how much I pay for it.