If you’re looking for a way to make some money fast, you might find what you’re looking for in your garage. Power tools from quality name brands often retain their value for many years, and depending on the condition of your power tools, you may be able to get a pretty good chunk of change from selling equipment you no longer use. Below are three tips to get the most money when selling pre-owned power tools:
- Inspect And Make Repairs
Before you try to sell any power tool, you first want to inspect it. Check the outside for any defects, and clean your tools using approved cleaners. If repairs need to be made to parts like DC brushless motors, you may be able to find suitable replacements by visiting sites like arcsystemsinc.com. Replacing parts like small brushless motors or sensored brushless motors in power tools like electric drills may void the warranty of certain tools, so check with the manufacturer before opening the casing.
- Look For Resale Opportunities
When you know that your tools are in good working order and are free of internal and external defects, you’ll want to think about where to sell your equipment. These days, online options like Craigslist work well for local sales, but there are plenty of resale sites that allow you to sell across the country and across the world. These sites are beneficial because most allow you to set your asking price or a starting price that can receive bids from interested buyers. This may drive your price higher over time.
Pawn shops are another good choice when reselling power tools, but you’re less likely to get the actual value of the equipment when selling at pawn shops. These shops make a profit by buying low and selling at slightly below store prices, so you’re probably going to have to take less for your tools than they are worth. If you’re in need of cash, however, pawn shops offer a quick and convenient way to exchange power tools for money.
Flea Markets and yard sales could be another avenue to consider when selling pre-owned power tools. You could either host your own yard sale or rent booth space at your local flea market. Depending on the fees, it may also be a good idea to partner with others who want to rent space and split the cost. Flea markets and yard sales can attract a lot of traffic depending on your area, and they often provide opportunities to get your asking price for items.
- Be Ready To Negotiate
Depending on the economic climate in your area, you will want to be ready to negotiate on the price of any power tools you’re selling. Just because you believe a tool is valued at a certain price doesn’t mean that someone will be willing to pay that price. Whether you’re selling to a pawn shop, at a yard sale or at a flea market, negotiating is a necessary skill to get as close to your asking price as possible. In fact, some online resale sites also factor negotiations into listings. You might be able to get a better deal by selling your power tools online to someone who is willing to negotiate or come up on their offer through an online exchange.
Be Careful With Personal Data
No matter how you choose to sell your pre-owned power tools, make sure to protect your personal data. Local sales can be faster than online sales when it comes to getting cash in hand, but you don’t necessarily want a local buyer to know your phone number or address. By taking some time to consider your privacy balanced against your availability, you’ll be more likely to conduct a safe, fast and efficient transaction.
