Do you have any used tools that you want to sell? Several stores such as eBay and Craigslist allow you to sell used tools and recoup some of your money. Let’s explore the best options for selling used tools, including pawn shops and Etsy.
Both contractors and hobbyists may find themselves in a situation where they have too many tools and not enough storage space. In such cases, it is best to find a place to sell used tools while still making a decent profit. But where can you go to sell used tools?
You can find numerous online platforms where you can sell your used tools and earn a considerable profit. Some of the widely used options include:
- Facebook Marketplace
- Craigslist
- Etsy
- eBay
- Pawn Shops
- Auction Houses
This guide aims to provide assistance to individuals seeking a suitable platform for selling their tools, especially if they reside in an area where tool sales are infrequent. By exploring the various tool-selling websites, this guide offers insights into the workings of each platform, enabling you to make informed decisions about where to sell your tools.
Where Should You Sell Used Tools?
When it comes to selling used items, there are limited places where you can sell them at a reasonable price. Yard sales and flea markets are not considered as viable options as they do not pay a fair price for tools. In fact, most places only offer a fraction of the actual value.
To simplify the process, we will provide a detailed overview of each significant used tool marketplace and give you an idea of what to anticipate from each.
Facebook Marketplace
Facebook has evolved into an excellent platform for selling a wide range of items, including tools, due to its ability to connect users with similar interests in their local community. The prices of used tools sold on this marketplace can be quite competitive, but the amount you receive largely depends on the buyer and the specific tools you are selling.
Important Points To Know:
- Note that Facebook does charge a selling fee, but it is possible to waive it. Moreover, taxes are collected on transactions made through Facebook Marketplace.
- Facebook Marketplace has the policy to verify the brand’s authenticity. Therefore, you cannot sell fake tools of reputable brands like DEWALT as it can lead to your account being banned. Facebook verifies the manufacturing location of tools like ICON.
- It’s important to take safety precautions when meeting people in person. Conduct transactions in well-lit areas, use secure payment methods, and obtain proof of sale.
- Running ads can increase your chances of selling less common tools.
Craigslist
Craigslist has been a reliable platform for online selling for many years, and it’s easy to post your tools for sale in the “Tools” section. However, the payouts can be inconsistent, so it’s not a guaranteed way to make a good profit. Nevertheless, it’s possible to get a fair price for your used tools on Craigslist. Simply arrange a meeting with a buyer at a convenient time and location and finalize the transaction.
Important Points To Know:
- Craigslist is known for having a severe problem with scams. In numerous instances, sellers have been scammed into sending their tools to other locations or even robbed during the exchange. To stay safe, it is recommended to meet at a police station for the exchange and not disclose your address. Additionally, requesting payment through money order, Cashapp, or cash is important.
- Posting on Craigslist in most parts of the country requires a fee. The fee can vary from $5 to $50 depending on the area where you want to sell your items.
- Craigslist does not provide any protection for you if you are a seller. Therefore, choosing any other platform is better if you want to ensure safety or peace of mind.
Etsy
If you have tools that cater more to hobbyists and crafters such as awls, small drills, antique hammers, or leatherworking tools, then Etsy could be an ideal platform for you. They have a specialized section for tool sales, but they mostly cater to the hobbyist and craft community. However, if your tools are of a more professional grade, it might be better to consider other options.
Important Points To Know:
- Etsy offers seller protections, which help ensure quality sales. They have policies in place for resolving issues that may arise during a sale. However, a listing fee varies depending on your seller status and other factors.
- Unlike Craigslist, you can advertise your listings on Etsy for a fee. This may be worth it if you want to ensure more visibility for your items.
- Etsy is a great platform for selling antique tools, and machinery is also popular, even if it’s just for scrap materials for crafting jewelry.
- It may not be the best choice for selling professional-grade tools.
eBay
eBay is a massive online marketplace that is popular for selling used goods. It is even used as a platform for car sales by people who consider themselves “shadetree mechanics.” Due to its vast user base, you are likely to find a buyer here. Unlike other marketplaces mentioned, eBay is a global platform.
Despite being the top platform for selling used tools, it is important to note that eBay is not without its issues. Many sellers have reported that eBay tends to result in lower sale prices due to the high competition. However, selling vintage DeWalt tools for a good price on the platform is still possible.
Important Points To Know:
- Similar to other online marketplaces, eBay imposes listing fees on its users. However, new sellers may qualify for waived listing fees during certain promotional periods.
- The level of selling power you possess on eBay is determined by your account type. Various seller accounts offer differing levels of visibility, perks, and sales projections. A personal account with a few advertisements will suffice for those looking to sell just a few tools.
- There are significant concerns with the way eBay treats its sellers. Many online forums featuring eBay sellers are filled with complaints about eBay’s behavior. eBay is one of the few sites that openly favors buyers without exception, even if the buyer is at fault. This has resulted in significant scams, financial losses, and more. This issue has been plaguing the site for nearly a decade, if not longer.
- PayPal is the most commonly used payment method on both eBay and Etsy. The payment platform offers a specialized dispute line for both marketplaces.
- You can also hire a professional eBay seller to handle the sales for you. They will take a cut of what you earn from selling your tools, but they usually produce better results.
Pawn Shops
When you’re not interested in selling your tools online, a garage sale or flea market may not be your best option. Instead, you might consider going to a pawn shop. While pawn shops are known for offering low prices to sellers, it is still a better option than what you may receive at a yard sale. The amount you can get for your tools will depend on the pawn shop’s policy in your area.
Important Points To Know:
- If the used tools are not of superior quality and not from reputable brands, pawnshops will decline to accept them. This is because pawnbrokers need to research the make and model to determine the item’s value and profit margin. If they are unable to do so or have concerns about the item’s marketability, they will refuse to take it.
- Although it may seem like a low amount, pawnshops typically offer around 30 percent of the market value for your tools. While it may not be the most favorable option, it is still a quick way to receive cash on the spot for your items.
- It’s important to keep in mind that utilizing a pawnshop may not always be a viable option. Not all towns have a pawnshop, and even if there is one nearby, there is no guarantee that they will be interested in buying your tools. Therefore, it’s essential to have a backup plan in place.
Auction Houses
In case you possess a considerable amount of tools that were previously used in a workshop and they are still in good condition, you could consider engaging an auction house to obtain the highest possible price from prospective buyers.
This approach is particularly beneficial for very expensive tools and unsuitable for selling to hobbyists. The auction event usually lasts for a single day, and you must promote the sale to potential buyers and groups interested in such tools.
Important Points To Know:
- In order to proceed with this, you will be required to enlist the services of an auction house. Typically, auction houses charge a flat fee or a percentage of the total proceeds. Moreover, you might need to be responsible for advertising the sale.
- Most suitable for liquidating a shop’s inventory. If you’re either closing down your business or attempting to sell your shop, this could be an excellent alternative simply because of the sheer volume of items involved.
- The logistical aspects of this can be somewhat challenging to handle. If you’re unable to allocate an entire day for the process, you may need to consider exploring other alternatives.
- This approach usually yields the highest returns for uncommon tools. Auction houses are renowned for their ability to maximize the value of items sold through them.
Related Questions
What kind of tools do pawn shops prefer?
If you have name-brand power tools in good to excellent condition, pawning them can be a good option. For example, a DEWALT power saw or a Milwaukee brand power drill are highly desirable to pawn shop owners. Nonetheless, it is worth noting that some pawnbrokers may decline to purchase power tools due to the associated liability concerns.
How much will pawn shops pay for tools?
The amount you can receive for your tool is contingent upon the tool itself and its condition. Typically, you can anticipate a payout ranging from $50 to $150 for most high-end brands. However, more sophisticated power tools can fetch you up to $500, provided that they are in excellent condition.
To maximize your earnings, the most effective strategy is to present the tool to several pawn shops and choose the offer with the highest value. Nonetheless, the price discrepancy between offers is usually minor.
What should I do if my old tools don’t work anymore?
If your tools have ceased to function, you can opt to sell them for scrap metal. To accomplish this, visit your nearby recycling facility or scrap yard and request compensation for your items. Typically, payment is based on the weight of the materials.