Question About Pricing

barbandrob · Post by **barbandrob** » Fri May 30, 2008 2:18 pm

OK, those of you that were kind enough to answer my earlier post know that I am looking for a used 510. Since the model has been made for so long, I've been coming up with lots of machines and lots of price ranges. What I'm confused about is people with a 20 year old machine wanting over $1000 for their machine, even if it's pretty much just the basic machine, in decent shape, with no real add-ons. Is this reasonable? I'm really having a hard time deciding what fair prices are for the different age ranges of 510's.

Any help is appreciated.

charlese · Post by **charlese** » Fri May 30, 2008 6:02 pm

Hey there Barb! As you said earlier, you really want one that is almost "plug and play". In my simple analysis, you can strike a deal on most used Mark Vs, but you really never know what you'll get until it arrives. You'll read many price quotes and recommendations which will leave you as confused as I am concerning them. As you have observed there are several models with several up-dates. I don't really know what's out there. Personally I wouldn't buy a used one without first laying eyes on it and running it.

I still think you would be better off in the long run by buying New! This way you know what you'll be getting, and it can be up and running in no time.

Shopsmith has an excellent return policy. At least in the old days Shopsmith financed through a Company called Home Finance. If you're not opposed to financing, there are all kinds of routes for this. History shows that some folks, bought a new Mark V and paid for it by selling products made from it.

If you make yourself into a business, for tax purposes, the new machine and any special purpose tools can be depreciated for several years.

paulmcohen · Post by **paulmcohen** » Fri May 30, 2008 8:14 pm

barbandrob wrote:OK, those of you that were kind enough to answer my earlier post know that I am looking for a used 510. Since the model has been made for so long, I've been coming up with lots of machines and lots of price ranges. What I'm confused about is people with a 20 year old machine wanting over $1000 for their machine, even if it's pretty much just the basic machine, in decent shape, with no real add-ons. Is this reasonable? I'm really having a hard time deciding what fair prices are for the different age ranges of 510's.

Any help is appreciated.

A fair price is what you are willing to pay and the sell is willing to accept. People who understand the value of the Shopsmith usually sell them in pieces because it is easier to shop and generally they will get more value. Few people are willing to spend $1,000 or more on a used machine and then pay for shipping without really knowing what they are getting.

On Craig's list generally the machines are in very poor condition and of unknown working order usually with the original purchaser dead. The surviving spouse just wants to get rid of it and get some cash. For these machines some people have just offered to "take it off their hands so they don't have to pay to have it removed", something they settle on a token payment. They machines can be a great value but could need lots of work. My personal experience has only with selling old parts I no longer need because I upgraded something with new parts. I do frequently look at eBay and Craig's list just to see what is going on.

The one time I saw a power stand in good condition locally but the price kept going up until I was better off with a new machine.

I am sorry I can't be of more help but there is no Edmond's of used Shopsmith.

kalynzoo · Post by **kalynzoo** » Fri May 30, 2008 11:27 pm

I would guess allot depends on what you enjoy doing. If cleaning polishing, rebuilding, and restoration gives you personal satisfaction, then you really can't go wrong shopping for a no longer used SS. Personally, I want to do woodworking. I find it hard to take the time to clean up and wax on any type of schedule. If a used SS were offered to me, locally, and I could play with it for a while, perhaps I would consider a second machine. (My wife would seriously hurt me and I really don't have room, but thats another story). I purchased a reconditioned SS at the State Fair from SS. I have no regrets.
The added benifit was that I could start to play the very next day.

woodburner · Post by **woodburner** » Sat May 31, 2008 1:56 am

Hi,

It's not really the age of the Shopsmith you should really be considering, it should be how much has it been used and how well it has been taken care of. These machines seem to last forever if well taken care of. Just look at how many Shopsmith 10ER's are out there, and those machines are a bit old for a power tool.

First thing to ask the seller is why they are wanting to sell it in the first place. Has it been sitting in a damp garage for years? Has the person just decided to get out of woodworking? Or are they upgrading to seperate/single machines? When was the last time it was used and/or maintained? Is the seller the original owner?

Ask as much as you can about the machine and its accessories so you can get a good history about it. If the seller seems vague and doesn't know much about it, I wouldn't buy it because it probably hasn't been maintained very well. They might not even know if all the accessories/parts that you need to make it run properly are there with it.

Some of the machines are in very good condition and that is why they are asking for $1,000 or more. They are owned by an actual woodworker who knows how to take care of their machines. Some sellers are just wanting to get rid of one that they got stuck with and are looking for a quick buck, and decided on the price because they looked up how much a new one costs, and figured they can make at least a third of the cost of a new one, no matter what shape it's in.

This is why finding out its history is so important. Do not buy one without finding out all you can about it, and you are satisfied that it will meet your expectations.

If you are buying one from an auction website, don't be shy in e-mailing and then hopefully talking to the seller by phone before bidding on it. If they have a good machine, they will be happy to answer all your questions. If their answers aren't very forthcoming, stay away.

barbandrob · Post by **barbandrob** » Sat May 31, 2008 8:15 pm

Thanks, folks, for your replies. Honestly, I decided after I posted it that it was a stupid question. There are so many variables and so many configurations as to make it virtually impossible to really figure any systematic pricing on used equipment. I was just getting frustrated.

I'm actually a pretty smart person, so I think that the more I read and the more I understand the machines and the accessories, I will be better educated to make an offer for a machine that seems to meet a certain standard. New isn't an option, so I am sure I can make an intelligent decision. I'll just take my time and get as much information as possible under my belt in the meanwhile.

Thanks again,