Shopsmith Forums

http://humboldt.craigslist.org/tls/4003949290.html

How could I say no? I'm going to pick it up this evening...hopefully I can slip it into the workshop unoticed, as my wife will think I'm nuts (well, actually, she already does...just further proof). I plan to turn it into a SPT shorty - looks to be pretty rust free...hopefully the headstock is in reasonable shape.

thats just crazy. maybe disassemble before to facility stealthiness? i saw a 10ER go on pawn stars for 50 bucks the other day, and the seller said he didnt care what they paid him as long as they hauled it off for free.

congrats on the score!

While you may view it as a plum it sort of bothers me to know the bottom has fallen out of the market for used Shopsmiths.

When I bought mine I thought I was making a life long investment and that I would surely get at least my money back. Had I bought standalone I probably would be able to come pretty close.

In fact my buddy had a wood shop in his home with all standalones and if I remember correctly he said he sold it all 20 years after he had originally bought it for pretty much the same price with the table saw selling for slightly more than he paid.

I wonder what the average rate of depreciation has been over the last twenty to twenty five years.

I bought my 1993 Ford F250 new. Based on current market value for "Old Reliable", I could probably get $1000 for it today. I paid in the vicinity of $20,000.

If I apply that same ratio to my Mark V, purchased just a couple years earlier than the Ford, I might be able to get $75 to $100 for it. Now realize, I only paid $1500 for my Mark V. It was a Texas State Fair Special. I think it came with the Bandsaw for that price.

Ed in Tampa shares some of the same characteristics as my dear departed mother. She had a beautiful Pontiac Grand Prix back when they first came out. She tried to sell it a couple times years later but she could never get her asking prize. She thought that because she loved that car and took good care of it it was still worth as much or more than she had paid for it.

Now today, that might be a different story. The Grand Prix is something of a sought after classic.

The Shopsmith Mark V has not achieved that classification yet. My Mark V is still depreciating at close to the same rate as my 1993 Ford F250 XLT with new tires, good brakes and still getting 14-15 MPG while towing a 4000 pound travel trailer like it wasn't even there. Who knows, when I get the restored Aristocrat back on the road, mileage may go up. It weights less than 3000 pounds.

It needs new windshield wiper blades though; even though I put a new set on last year. This desert sun is hell of anything rubber or plastic.

One is listed on Minneapolis craig list for $3800.00.

POWER PRO, WITH BAND SAW..

says it has been used six times.

So, what would this unit be worth?????

The used ones I have bought . I asked how many

people have called on unit?? The reply was always you are

the first one....................

the newer generation will pay $600.00 for a phone gadget.

They do not seem to have an interest in tools....

So, it is a buyers market...................

[quote="dusty"]I wonder what the average rate of depreciation has been over the last twenty to twenty five years.

I bought my 1993 Ford F250 new. Based on current market value for "Old Reliable", I could probably get $1000 for it today. I paid in the vicinity of $20,000.

If I apply that same ratio to my Mark V, purchased just a couple years earlier than the Ford, I might be able to get $75 to $100 for it. Now realize, I only paid $1500 for my Mark V. It was a Texas State Fair Special. I think it came with the Bandsaw for that price.

Ed in Tampa shares some of the same characteristics as my dear departed mother. She had a beautiful Pontiac Grand Prix back when they first came out. She tried to sell it a couple times years later but she could never get her asking prize. She thought that because she loved that car and took good care of it it was still worth as much or more than she had paid for it.

Now today, that might be a different story. The Grand Prix is something of a sought after classic.

The Shopsmith Mark V has not achieved that classification yet. My Mark V is still depreciating at close to the same rate as my 1993 Ford F250 XLT with new tires, good brakes and still getting 14-15 MPG while towing a 4000 pound travel trailer like it wasn't even there. Who knows, when I get the restored Aristocrat back on the road, mileage may go up. It weights less than 3000 pounds.

It needs new windshield wiper blades though]

Dusty all you are proving is what the experts repeat over and over the car is the worst investment you can make. So if your SS depreciates at the same rate I guess it is far to assume it is just as lousy.

Those same experts often list tools as a hedge against an economic collapse and a hedge against inflation.

I don't know what the experts are saying for the doom day scenarios now but at one time they said stock pile tires and tools and you would have a great bartering position.

I agree the kids today seem to have more money than brains and will pay whatever is asked and feel if they question the price it will make them look like losers.

The guy I bought my car off shared with me that he loves the 21-35 crowd they rarely haggle and if they can figure any way at all to pay for it they will buy it. He says they want every option and don't care what they cost if they add the Wow factor. He loves them as does his manager. Keeps the sales in the black.

Wow the casters are worth more than that.

Ed in Tampa wrote: When I bought mine I thought I was making a life long investment and that I would surely get at least my money back. Had I bought standalone I probably would be able to come pretty close.

In my opinion, you did make a life long investment - in a machine that will last the rest of your life and serve it's functions well. I rarely buy a tool thinking about if I'll get my money back at some point, as I always try to buy quality tools that will outlast me.

As for this $50 machine, the basic story is the guy ended up with it (I didn't ask how but assume inherited it or is was given to him) - it has the extension table, tailstock, main table, and a sanding disc and that's it...he got it that way and has had it in his shop for 3+ years thinking he would buy the rest of the missing stuff to bring it back to life but he never got around to it and decided to let it go. He tried to sell it at a yard sale but it takes the right person to recognize and be interested in a SS at a yard sale, much less one that is missing enough stuff to scare away any non-SS person. So he said screw it, get this thing out of here and priced it accordingly. The price is a steal but is also what the market likely would bear, given it's incomplete state in a relatively small community. I also don't think this situation is typical or representative of what a Mark V 500 is worth in decent condition in most markets.

As for standalone machines being a better investment in terms of potential resale value...that really depends on the type/brand/quality of the tool. Most table saws, radial arm saws, band saws, etc. from the same era as this machine (I'm not sure of the exact year of the machine yet - picking it up tomorrow and will check serial # but I assume from appearance it's circa late 70's through 80's) do not sell for much in my neck of the woods. SS is a niche market and always has been - naive people assume they are a gimmick or otherwise are a sub-standard alternative to a collection of standalones that can do the same tasks. I constantly have woodworking friends scoff at my (growing) collection of Shopsmiths as being in their minds about equal to buying power tools at Harbor Freight. They are mostly close-minded tool snobs that don't know any better...all of this kills the resale value of a machine that is worth way more than is sells for used. This results in me having two 10E's and now a second Mark V, all three I picked up for a combined $200. The 10E's are dedicated drill press and lathe and are better quality and far longer lasting than any drill press or lathe my tool snob friends own but I just chuckle and know better.

We complain at both ends. Some say they are too inexpensive used and, others say they are too expensive new. Apparently someone got under Doug Reid's skin at one of his webinars complaining about the expense and he posted this self-described rant on YouTube in response. http://youtu.be/nNa0rin-h7o

OK, the ER came out at almost $200.00.

I'm picking up one today, $150.00 That's a 25%
depreciation. (Of course, this one has metal legs, casters,
speedchanger, and a few other goodies.)

steve