Thinking Out Loud - The Most Economical Way To Get A Mark 7

[algale]

Disclaimer: I'm just thinking out loud here. Use this information at your own risk.

A couple of days ago I missed a chance to buy a relatively new 520 plus band saw (both in excellent condition) together with an unused Power Pro headstock, still in its box and a set of the new 3 inch casters still in a box. The guy wanted $2500 for everything. A new Power Pro headstock currently costs $2119, plus tax, so it was an amazing deal. Unfortunately I was out of town and someone else (I hope one of our members) snapped it up.

But, it got me to thinking: If I want to add Mark 7 capabilities, is it better to upgrade my Mark V 520 or buy a completely new Mark 7 and part out my existing 520? This is more or less a theoretical exercise at this point, but bear with me as I think out loud.

A new Power Pro headstock costs $2119.
A double tilt upgrade costs $389
The new casters cost $43
So, the total to go from an existing Mark V 520 to a Mark 7 is $2551 (plus shipping which I am ignoring for purposes of this analysis).

A new Mark 7 costs $4129 (plus shipping which I am ignoring for purposes of this analysis).

So the difference between buying a new Mark 7 ($4129) and upgrading a 520 to Mark 7 status ($2551) is "only" $1578. (This assumes you already have the shaper/router table insert, router chuck, shaper arbor and shield accessories that come as standard accessories with a Mark 7; I'm ignoring them).

So, if I can part out my Mark V 520 and net $1578 or more, aren't I better off buying a new Mark 7 rather than upgrading my machine (again ignoring shipping).

So, I went on ebay and tried to figure out what the parts of a 520 might go for based on past sales (not asking prices). I looked to see the low and high price for 520 parts in very good to excellent condition, since all my parts are in very good to excellent condition. I then took the average.

Here's what I came up with.

Parting out a 520 v.2.docx

(28.25 KiB) Downloaded 394 times

The long and short of it is: using the average prices I found on ebay for 520 parts in very good to excellent condition, I could theoretically part out my 520 and clear (net of ebay fees) an average of $1493. Again, this is an average. Could be higher or lower.

Suffice it to say, that's close enough to the $1578 difference between buying a new Mark 7 and upgrading my 520 to full mark 7 status that I conclude the better deal is buying a Mark 7 new. Your mileage may vary.

[benush26]

Except for the 500 I bought new in 81 and then sold a couple years later, all of my Shopsmiths and SPTs had been used. But that was a function more of available income.

Buying the Mark 7 has been a fun and exciting journey. There is something about getting NEW . I did get flack from some on this forum because I bought it from Lowe's and paid a whopping 6% interest (apparently they never tired to buy a house when great mortgage interest terms were in the mid teens! )

I do pay more than the minimum and even with the current state of non-access into my garage I would buy a new Mark 7 again. That PP headstock is simply amazing.

Before I bought the 7 my intent was to take my 510 and upgrade all of it to a 7. Now I am very happy I just bought new. I still haven't sold the 510 or 500 but plan to do the local CL within a week. Of course I've been telling myself that for a couple years!

Anyway, my non-counting vote is to go for it and buy the new Mark 7.

Be well,
Ben

[reible]

I'm in two mines about what I'm going to do about updating my other 520 machine. On one hand I'd like to have two machines up at the same level ie mark 7's The original 500 that I purchased in 1976 is about as updated as it can get. The used 510 (a basket case when I got it) is updated to a 520 but I've been thinking about getting the powerpro upgrade and dual tilt.

From the last demo I visited they had listed a new mark powerpro at 4129.00 + 190.00 or 4319.00 shipping. The Lowe's promotional price was 4319 with shipping. No savings at all except if they gave a veterans discount at Lowe's which is 10%. (Some stores do that only on Memorial Day and Veterans Day but other will do it all the time.)

How ever if I were to go with another headstock upgrade like I did before then the 1649.00 + 125.63 shipping or 1774.63 would be only 1597.17 at Lowe's and again if you could get the discount.... The tilting system is 412.49 vs 371.24 so let say I want just those two items, a total of 1968.41.

Living in IL of course we have to add on the taxes so it starts getting unpleasant after that. It is a far cry from the 4319.00 of a new one and I don't mind doing the upgrades. Will I do it? I don't know.

What about ebay selling off and then buying a new one? Sounds like a lot of work to me. Boxing, packing, shipping, trips to mail stuff, keeping track of the sales.... not stuff I feel like doing. While I'm sure it might be worth the efforts to some people it is not for me.

So you have to ask yourself the questions and then see how you answer.

Ed

[stephen_a._draper]

I have had similar thoughts. I have upgraded my Mark V 500 to include the double tilt. Since I have the support table as well as the crosscut sliding table, I like my current setup along with the jigs and fixtures I have made over the years to use on the 500 model. I had a 240 Volt outlet put in my shop to accomodate the Power Pro motor. I plan to buy the Power Pro motor fully assembled to replace my current headstock. Money is not the issue anymore for me. Nearing retirement, convenience and lack of stress are more important to me now than in my younger years.

By the way, I shop at Lowes all the time. I just show my Veterans Administration ID card and receive 10% discount on everything I buy everyday. That is honored nationwide at all Lowes.

[dusty]

I do believe that Lowe's 10% discount to veterans is a nation wide policy but not all of the clerks are aware of that. When (if) denied, I suggest that you ask for a manager's decision. I use it all of the time; even on small purchases. I think of it as a way to remind the management of how many of us there are out here and how much we spend.

[reible]

The current information from Lowe's site reads as follows:

"Lowe's established the 10% Military Discount to support the men and women who are currently serving our country in the Armed Services1 and to honor Retired Veterans and VA Recipients.2 This 10% discount is also extended to the immediate family3 of those who are currently serving, Retired Veterans, or VA Recipients.

To qualify for the Everyday 10% Military Discount, you must:

Be currently serving in, or retired from, a qualifying branch of the Armed Services, or be the immediate family member of someone who is and have a valid military ID Card.

Or:

Be a veteran who receives VA benefits and have a valid Veteran Identification Card (VIC).

We honor all Veterans on three specific holidays: Memorial Day, 4th of July and Veterans Day. During these three holiday weekends, we extend the discount to all veterans who served honorably and who present a valid Form DD214 or other proof of service. The Lowe’s Military Discount is extended to the Veteran community on these three holidays only.

The Military Discount must be used on personal purchases only and cannot be used for Lowes.com purchases, previous sales, or the purchase of gift cards or services including product installations. It cannot be combined with the Lowe’s Price Guarantee, or promotions such as "Spend and Get," "New Mover," "Project Starter," "Your Choice," or discounts such as Quote Support Program (QSP) quotes.

1 Armed Services — US Army, US Navy, US Air Force, US Marine Corps, US Coast Guard, or the National Guard and who are in active, reserve, or retired status.
2 Retired Veterans and VA Recipients — Veterans who have retired after 20 years of service and/or those who receive VA Benefits
3 Immediate Family — Spouses and/or dependent children (up to 18 years old.)"

I am one who has the 3 days a year but some stores give the discount to me year around. It doesn't hurt to ask.

Ed

[krusty]

I'm not sure if it makes a difference but I attended one of Doug Reid's webinars and I could get $300 off or for me it could be free shipping. Or you could get a free accessory, which I chose the Bandsaw. I thought about buying used and then upgrading every time it came out better to buy a new one for my needs. I don't have one so need to part out.