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I'm thinking of selling up, whats it worth?

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David Colwill11/07/2020 11:15:29
640 forum posts
34 photos

I have never had anyone pay by Paypal for anything that has been collected ( I have lost count of the number of transactions that I have done but more than 100 ). Arranging pick up and collection through ebay messages leaves a record that is visible to ebay.

If you collect something you are accepting that you are happy with it (also in ebays rules).

Don't forget that ebay needs people to sell as much as people to buy.

Robert Atkinson 211/07/2020 12:56:23
avatar
701 forum posts
16 photos

Listing at 99p start on ebay does carry some risk. The market for Myford lathes may be firm but you never know. The 99p start was common when ebay was primarily a auction site, but it is now a marketplace and the dynamics have changed. I have bought a lot on ebay comprising several bits of test equipment on ebay for 99p (no other bids) and sold ONE of the items for £1500 (Buy It Now taken, auction had £500 start) a week later.
Other people list items BIN higher than you can buy new or from a dealer but they still sell. I can only assume they think because it is more expensive it must be OK.
Ebay says you HAVE to take paypal for auctions. If collected get he buyer to sign a collecion note and take a photo of the item in their car. For high value item, even if ebay/paypal don't play ball there is always the small claims court.

Robert G8RPI. (ebay buyer and seller for 20 years)

Georgineer11/07/2020 12:58:24
367 forum posts
16 photos

When listing on ebay, be brutally honest about the condition of things. It has served me well as a policy, and when reviewing other people's sales history I find that 'condition worse than described' is a common cause for negative feedback.

George b.

Barrie Lever11/07/2020 15:35:17
653 forum posts
75 photos

Robert

You make a good point about the test equipment that you have purchased on Ebay.

I think you will agree that the 'Myford fan boys' are what drives that market to be strong and there are probably not the same zealots chasing test equipment/ you can always add the caveat that the item is advertised else where and the right to withdraw is reserved.

If you know how to play the Ebay market as I think you do it can be very good as both a seller and a buyer.

I still think the OP should list the lathes with a minimal amount of equipment and then list the other parts separately.

Listing as big sets/chunks will not maximise the sale value, I have often bought complete sets of equipment and sold the main lathe for what I payed and then the profit was in the other pieces.

B.

Howard Lewis12/07/2020 02:41:48
3394 forum posts
2 photos

Agree with Barrie, sell the accessories as individual items.. Things like Steadies, Vertical slides, Collet Chucks, 4 jaw chucks, will be worth more sold separate from the lathe, than as part of a package deal.

Do beware of scammers, who pay; you despatch the item, and then they withdraw the payment, and possibly swear than the item never arrived.

Howard.

Russ B13/07/2020 08:43:12
574 forum posts
21 photos

Thanks to everyone for their input, I have used ebay before but in my mind, selling a lathe or machine tool is a bit like selling car, I wouldn't be comfortable at all bidding on a car I hadn't seen and thus I'm not comfortable with people bidding on a lathe they haven't seen, I just don't want any trouble, people coming to collect and it's not what they expected etc. - for that reason, shipping is certainly out the question I'm afraid.

I digress but only slightly and on track with Howards post above..... I sold a phone recently on ebay, I thought it would be worth good money, it went for £80ish, not bad. The buyer who received it then sent me photos of a slightly bent phone, so much so the LCD glass had popped out the front, it wasn't like that when I sent it, and there is no way the box had sustained any damage without it first braking (hard plastic box, it could take my whole weight with ease) - despite me having clear and accurate photo's of the item before sending it (ie. the ones on the auction!) I still got bloody fleeced for extra money off, with a buyer refusing to return the phone over and over, instead demanding a partial refund, he even accepted the return postage label, that I paid for, and then didn't return it, claiming that due to covid his post office was shut and he didn't want to walk the extra 5-10 minutes to the next closest. Anyway, I did nothing wrong, I still got fleeced, I could've left it and let ebay take up the case but ultimately it was a lot of hassle for one d**k head, I just gave him the extra £15 he so desperately wanted put it behind me, I have more than enough to worry about, and clearly, £15 means a lot more to this guy and than it does to me with the time and effort he put in, for me it was more the principal of it all.

Anyway, I'll consider my options carefully, I like the sound of these ebay classified adverts, I haven't heard of them before, I will look in to it.

As people have said, I think I'll keep a few items, the Myford 280 although in need of a regrind to be perfect, is an amazing machine and worth much less than the 7, because people just seem to go nuts for Super 7's. I'll probably keep the Myford VMC, i've used probably a dozen of these machines, but only 2 of them were actual Myford branded ones, and the difference is substantial, they're rock stead, solid machines, anything and everything that moves, glides but is solid when you need it to be, the knock offs seem lumpy and noisy by comparison, especially on heavy intermittent cuts, fly cutting etc, they sound bloody hollow and some of them could vibrate across the floor if I tried doing cuts as heavy as I could on the myford!

I know people cry about the Myford fan boys, and I know they're expensive, but they did make nice machines all things considered!

Bob Worsley15/07/2020 16:35:02
31 forum posts

Not said where you are in the country?

Avoid ebay like the plague. Try using a local industrial auction house, around here in Lincolnshire there is PP. The advantage is that they sell stuff, machine tools, all the time, they know them. But you take them to their place and leave them, they lot, sell and deal with the buyers. Never underestimate the shear time and hassle of selling things, packing, postage, waiting in for collections, drives you nuts.

Prices, a place like PP (no connection other than buy and sell for 15 years) always has people looking. So the prices gained should be ok. But don't forget that things like 40 int tooling is past its sell by date, no one buys it, likewise huge drills and milling cutters. Yours is more home use size, and people will be interested.

I am in a similar situation, but selling up electronics stuff after 50 years to go to model engineering. Some items will sell, some won't, but using an industrial auctioneer, not ebay, will get the best price. At the moment stuff seems to be flying abroad and silly prices. On the other hand I have scrapped lots of stuff that ought to be worth money, just too hard to sell individually.

Just my thoughts, take it or leave it.

Len Morris 216/07/2020 17:44:35
17 forum posts

Interesting thread. What I can't understand is why engineering equipment we regard as gold dust seems to sell for a pittance and wood working gear sells for massive amounts.

Russ B16/07/2020 23:56:05
574 forum posts
21 photos

Bob, I'm in the UK

The house we wanted goes tomorrow, closed bids, I already know a friend is offering more than I have to offer, and more than I can comfortably afford, so I'll make my offer but I don't expect to get anything.

The more I've thought about this house, the less I think I like it, great house, very wealthy location, which is what makes it so expensive on the one hand, but also makes it so I could potentially invest a lot of money in to modifications, renovations etc and more than likely, gain money in equity!

Anyway, I think it'll go for a lot more than I can afford, it will be interesting to see who offers what, I think it could even be over 1/4 million mark which is just a crazy amount to say out aloud, but who knows!

pgk pgk17/07/2020 07:03:24
1851 forum posts
288 photos

I wish you the best of luck over this... but:

I'd never get involved in sealed bids sales again. A rival business went for sale like that (some years ago) and I carried out my own assessment of value and made such a decent offer. A few weeks later a circular informed all bidders of assorted issues with the property they may not have been aware of and suggested they change their bids. I'd already identified most of those issues and kept with the same fair bid. Just before the deadline the property was taken off the market and then a few months later suddenly sold privately. The whole deal was very smelly and i'd guess involved some brown envelopes or was just used as a way of assessing market value before a private sale. Obviously it had cost me money and a lot of time and hassle chasing potential loans and legal matters, planning it;s modernisation and refurb etc.

pgk

Russ B20/07/2020 13:09:44
574 forum posts
21 photos

Well the house has gone some £30k plus over my budget, certainly no regrets losing to a bid that high.

It has highlight the need to slim down the lathe collection somewhat and I think an extra few grand in savings will help us!

I'm going to see about putting the Myford on an advert here circa £2000 which after having looked on ebay, I think that might be considered cheap. This puts me in a strange position as it's stupid money if you ask me, but if thats what they go for, I need the money!

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