Getting the Right Sale Price For of Your Power Tools
Getting top dollar for your power tools depends on the brand, the condition, and the type of tool. High-demand brands like Bosch, DeWalt, and Milwaukee will earn you top dollar for their reliability and performance. Slightly less popular brands like Stanley, Craftsman, or Dremel won’t be quite as appealing to the pawnbroker. However, condition also plays a significant part in this transaction. Meaning, you could earn more on a Stihl power tool in perfect condition than a damaged Milwaukee tool. The type of tool you’re selling is also going to affect the price. For example, you’ll earn more on a table saw than you will on a cordless drill. We’ll cover each of these factors in more detail below.
- Good brands boost the price. Pawn shops will likely resell your tools to contractors looking to buy used. Contractors know good tools and will be looking for specific brands. If you’re sitting on some top-quality brands, it’s likely you will get more for them. Shops know they can sell your tools faster (and for more money) when they’re trusted brands. Usually, pawnshops will pay anywhere from $30-$200 for working tools, but you can expect that price to increase if you have any of the top brands.
Pro Selling Tip: In addition to selling top power tool brands, try to sell your tools in-season. For example, contractors are busiest during the spring and summer, so sell your used tools during this high-demand time. You’ll see significant profit increases if you sell during peak season.
- The better condition means more money. The condition of your power tools is a factor in the sale price. Pawnshops want to sell working tools. By making sure yours are well-running, undamaged, and newer models, you can expect a fair price for the sale. If your tools are in poor condition, it might be better to keep them.
Pro Selling Tip: Charge your tools before taking them to the pawnshop. The first thing the pawnbroker will do is test them to see that they work, so having them charged saves time. Also, spiff them up a bit before you bring them in. If they look good, chances are they’re going to sell.
- Different types of tools will earn you even more. This is self-explanatory. A cordless drill is going to bring in less money than a table saw. So, if you need quick cash, keep that in mind. How often do you use a table saw vs. a cordless drill? Maybe sell the table saw for more cash if it doesn’t get used often. Table saws and large power tools retail anywhere from $500-$1500, so you can expect to sell your tools (depending on the other factors) below those numbers.
Pro Selling Tip: Look up the retail price of the power tool you are considering selling. Then when you go to sell, your first negotiation should be a little below it. The pawn shop will negotiate, but it is always better to start at a higher asking price to get the most value out of your power tools.
Earn a Quick $50 or $100 Pawning Your Power Tools
Ultimately, if you need a quick $50 or $100, selling power tools to a pawn shop is a viable way. The right brand, condition, and demand have the potential to payout. If there are perfectly decent tools sitting in your garage or basement collecting dust, sell them and invest that cash into something you’ll use! You can always buy more refurbished tools down the line if you do end up needing them.