Shopsmith Forums

BigSky wrote:WOW, Really.

That seems awfully low. Would you sell your Mark V 520 for $600.

You orginally asked about the price of a 510, not a 520.

I would ask $800-900 for my 520 without the PowerPro upgrade.

I paid $300 for my 510 without any SPT 2 years ago in Austin. It was in great condition, just no goodies with it.
Fred

What I want to sell it for is totally different then what I would buy it for. I paid $500 for a 520 with bandsaw and jointer in very good condition from a guy in San Antonio who was moving and needed it gone that day. I turned around and sold it for $1150 two weeks later (having cleaned it up and added all the accessories that come with a new unit). Get this - to a guy in San Antonio. So your question is not valid for a direct answer. I want to sell it for as much as possible and I want to buy it for as little as possible. Value is what the market is willing to pay at the time and place. I happen to be in the right market both times !

Montana prices "may" be a bit unique. Currently there is a 520 with bandsaw, jointer and DC for $2K in Kalispell. No clue if ti will sell for anything near that. In the past couple years, the Flathead and Bozeman areas seem to have had more of the CL ads. A couple years ago I drove up to Kalispell to get a 510 with bandsaw and DC. Paid $800 plus my expenses. A while before that a 520 with a bandsaw and scroll saw each on separate power stands was advertised in the Stevensville area for "I think?" $2500. The last posting was down to $1500 before the posting was removed. Recently a 510 was advertised for $800 but the seller also had 3 SPTs advertised separately. I checked and now all those listings are gone. Did they sell?? I did email an cheap offer ($100) for the belt sander (he wanted $250).

I'm not certain there is a residual value here but more of a "what the market currently seems acceptable" philosophy. Recently I saw a 500 with 4 SPTs advertised in the Billings area for $400. The seller just wanted to get rid of it, or so they advertised.

I have an ER10 (my Dad's), a 510 and 500 to sell, but have not come up with a price. Do I want to price higher and wait or lower and get them gone??? I haven't figured that out yet. I doubt that I'll sell all three locally. I do presume that two of them will be sold out of the immediate area for no other reason than Montana is a huge place where people travel hundreds of miles to buy and sell. If I had thought I could sell four Shopsmith I would have driven to Billings to pick up the bargain just to get the beltsander.

Personally I figure the cost to drive when looking at tools and such. I add that in to the real cost. That alone might affect the residual value.

I'm not sure that the above should be considered any thing more than just a comment by a Montana boy who measures travel not so much in miles but time and MPG to get there (and back).

Be well,
Ben

BigSky,

Isn't the residual value always based on the original price - depreciation? What do you consider reasonable depreciation? What would you sell your 510 for?
Based on the logic you are using I should have paid way less for my 64 Corvette that I bought in 1996, instead of 2.5 times what they sold for new in 64. Stupid me.