Getting tools at an auction is a great way to save money. Whether you are a pro carpenter or doing a 1st time renovation, these events are a great way to build your tool box on the cheap. Some auctions may even feature new tools that are surplus. In this article I will share where to find these events, how they work, and my experience with the tool auctions near me.
Map of Tool Auctions Near Me
For “tool auctions near me”, see the map below…
What Is A Tool Auction?
It’s a smart idea to buy used equipment at tool auctions; online tool auctions allow businesses and individuals or DIY fanatics to pick up used tools for a fraction of their standard market prices.
Tool auctioneers often get their hand tools and other equipment from leading suppliers. Signing up for a tool auction offers you a golden opportunity to access an extensive range of brand-new and used instruments from top-quality brands like Bosch, Makita, DeWalt, Magnum, and Wacker Neuson. Whether you are searching for used or new woodwirking tools like saws, drills, or even pressure washers, you can find cheaper equipment to complete your project and increase your efficiency.
There are several tool auctions in the US. Out of the thousands of tools available online for auction sales, many items go for as little as 5% of the retail value of new equipment. Each auction normally has exceptional deals for people or businesses looking for replacement tools or extra kits.
You can find tool auctions that offer wholesale quantities in different parts of the United States. These events span various genres of tools such as power tools, gardening equipment, hand tools, and automobile tools.
How Do the Tool Auctions Near Me Work?
Workers who want to source equipment for upcoming projects or upgrade their production lines can find solutions at tool auctions.
Here is how it works.
Every tool auction near me is a traditional auction type, where the highest bid wins.
You will have to register to take part in a tools auction. It is necessary to do your background checks before you place your bid. While this will take some time, it will minimize your risk of making last-minute mistakes and overpaying for items.
Visit the auctioneer and thoroughly inspect the tools beforehand if you stay in proximity to the seller. You can always make direct contact with the seller to ask further questions regarding the equipment’s condition. An early inspection gives you more time to decide if the tools are worth investing in. Have a good idea about the applications of the tools you need, as well as your budget limit, before joining the auction. The availability of other competing buyers doesn’t have to force you to exceed your budget.
With many online tool auctions, the final bid price doesn’t always determine how much you will pay. Some auctioneers charge what’s called “buyer’s premium,” which is a pre-specified amount that buyers have to settle on top of their final bid to account for administrative costs.
The hammer price (the final price) can represent roughly 10-25% of the bid price. You will also have to consider shipping and removal costs as some sellers charge buyers removal fees. Larger items may need to be dismantled for easy handling. It’s always a good idea to understand how taxes and shipping work with respect to your jurisdiction. Once you are sure of your final decision, confirm your registration to bid on auction sites.
Most auction sites will require you to use your credit card to establish your identity as a legit buyer. As long as you confirm your registration, the seller will grant you approval as a registered bidder before you can take part in the bidding war. The earlier you register, the better your tools auction experience. It makes sense to read the terms and conditions of the auctioneer, such as the payment details, delayed removal, and other special removal terms.
Since each seller is unique, you should want to know their various terms beforehand. For instance, assuming you need a tool ASAP, but the seller includes delayed removal as part of their T&Cs, you may not get the item when you need it urgently.
Bidding Tips
Having some experience before you go to an auction is helpful. Here are some tips to follow…
Research Up Front
Before a tool auction event, there is normally a catalog or online site to view the equipment being auctioned. Take notes and jot down any questions you have about the equipment. You can ask questions during he preview period. Anything you are interested in, you should also look up online and see how much it goes for new and used. This will help know where your price range should be at a maximum.
If you are buying something like a drill press, know how much space you have available in your work area. You don’t want to buy pieces of equipment that you can’t use if you don’t have adequate space. Measure up front and then remeasure the equipment in the preview period to check the dimensions.
Set A Budget
If you have done your research upfront, then you should know what a fair price is. Set yourself a price and never bid over it.
Avoid the Crowds
The larger the crowd, typically the more action there is. More action means higher prices. I like to find under attended events to get better deals.
Pay Attention To Details on Used Tools and Equipment
If you are getting second hand tools and equipment, try and find out who was the previous owner. Is it coming from Home Depot or a local handy man. This will help determine how much wear and tear may be on the product.
The three things that are most important that you need to think about when bidding:
- Quality: Is this used equipment of a high enough grade that I can start using it today.
- Space: Do i actually have the space to fit this in my workspace, truck, workbench. Be prepared by measuring your space before hand.
- Price: What does this sell for used on classified sites online. Don’t pay more then you can get it for somewhere else.
How To Find Tool Auctions Near Me
You can find tool auction websites online targeting your local area. Many of these are tied to equipment, building material and related construction auction events. More recently some of these events have moved online, but there are still live public events.
These events are most often held at auction houses, but I have seen them run at lumber, brick, and other material yards.
Where Do The Tools Come From?
Specialists in tool handling and disposal source a variety of hand tools and power tools that are still in good condition. They then auction these off at relatively affordable prices than what you will get from buying brand-new equipment. Ranging from hammers to chisels and drills, you can pick up well-functioning equipment from tool auctions near you.
Buying power tools from auctions allows you to get good-quality equipment from trusted suppliers at competitive prices. There is no need to overspend before you can land the best tools to complete your project. Second-hand tools and accessories from auctions are a cost-effective way to restock your inventory.
Tool Auctions Near Me – Wrap Up
Tool auctions are a great place to get equipment well below the market value. It is important to do your research upfront and make sure you inspect the condition before you bid. Once you secure a bid the equipment is your as is. You should understand how the final price may change slightly, how taxes are applied, and how you are shipping or transporting the equipment. This is what I have learned from the tool auctions near me.