How much is a home machinist shop worth?

[camp20]

Hello to all.

My grandfather was a machinist and he built small engines. He sold his large tools when his heath was not good 6 years ago, he was feeling better so he bought smaller tools to fill his joy of his engine hobby. His health did not stay good for very long. He has passed and I have all of his tools that I am trying to get a value so I can sell it for my grandmother.

I have a microlux 7x14 mini lathe, Microlux mini drill/mill machine. I bunch of bits for the Mill machine, dial indicators, calipers, all the cutting bits and what ever else a michinist would have.

Do you have any idea of a value for this "shop". I have an idea of the large items but I do not know about all the accessories.

I do have a metal chop saw drill press... but I can look up the value of those. Thank you very much for your time.

John

[Dualkit]

Search for completed sales on E-bay. I am not a hobby guy, my shop is equipped with industrial type equipment. I did sell off and then acquire quite a few items over the past 5 years. I did notice used industrial type equipment took a beating (I sold things in 2008 for 1/3 of what I paid it 2003). I checked E-bay, and Craigslist for pricing, and noticed some of the smaller items held their value better (like a hobby guy with limited space would want). I believe it is because things like Mini mills, and 6 x 12 lathes can be moved cheaply by anyone, and shipped for small amounts of money. Anyway, you could even search current E-bay listings, but some people ask too much as they don't realize what the recession did to used equipment prices. To sell E-bay is getting pricey with fees and I believe they charge $25 just to list something in the machinery section. I would just try a free Craigslist add to start, you can always keep lowering the price if you get no nibbles, make sure to post nice clear pictures, and include model# and year of manufacture. Another rule of thumb if something is fairly new and in good shape people will pay 50% of what a new one goes for. Just start googling the make and model #'s and you will get the information you need. As an example I just googled "microlux 7x14 mini lathe" Found they now only make a 16" for $795.00, your's is 2" smaller, so if in good shape I would list at $425 or best offer and probably take $350.00.

[harryn]

Hi, the post above me is span - don't click on that link. I made the mistake of doing it.

Value is in the eyes of the beholder - and the local economy. If you are in an area with a strong hobby presence, then sometimes it works out.

As you have seen, pro equpment is very inexpensive right now, as many shops have gone out of busines, and not everyone has room for the big stuff. At the same time, small equipment can be limiting for a serious user.

I assume you are not interested in the items, or you could probably work out a deal with your grandmother for the tools for yourself. Sort of a pre- inheritance.

As far as value, I have a hard time paying more than 25 cents on the dollar for used items, unless they are just exceptional.

Just as an example, there is a local guy that is trying to sell a mid size cnc mill on craigslist. He did quite a few upgrades on it, but ultimately decided to buy a bigger one. He can hardly get an offer for his older one, because the brand had some mixed issues with the usuall stuff. I don't know about that brand lathe, might be a great one, but I personally don't see the point of buying a lathe or mill that isn't cnc. Others of course do.

As far as the small stuff and accessories, they could well be worth as much as the tools themselves, if you buy them new, but used is tricky.

Good luck,

Harry