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What do you have invested in tools?

Viewing 20 posts - 21 through 40 (of 55 total)
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  • #376896

    There is never enough tools. We have I believe 9 editions of the tool thread.

    Never enough.

    Amen! I have a spreadsheet that lists all of my tools, etc for insurance purposes. I need to update it, but the value is fairly high…higher than my wife would appreciate!

    Man, that’s a great idea. I never thought about itemizing my tools for insurance purposes. I was going to say “I don’t want to know” how much I spent on tools but maybe I should. I know it’s quite a bit, though.

    #376904
    redwood
    Pro

    I don’t really know and I’m not sure that I want to know. I might have a heart attack.

    Like Chad, my crew and I did some of almost everything and I was pretty good at buying tools that would help us, either in speed or in quality.

    When my tool trailer was stolen around 13 years ago, I had over $ 20K in it. I’m sure that I have more now.

    Now that I’m retired, I’m starting to divest myself of the duplicates for sure and others that I don’t see myself needing.

    Mark E.

    Pioneer, CA

    Working Pro 1972 - 2015
    Member since Jan 22, 2013
    www.creative-redwood-designs.com

    #376913

    I have a good amount…probably on the high side. I should put it all on a spreadsheet, but that would take me a long time to itemize. I might just snap pictures of everything and keep that.

    All of the little stuff adds up quickly – even small $2 – $5 items add up quickly. Tooling, accessories, etc…

    Heck – I have lots of money tied up in wood too.

    Orange County, CA

    #376931
    r-ice
    Pro
    Durham region, ON

    I have quite a few tools and kinda hesitate to even think about how much I have in it.

    #376951
    DirtyWhiteBoy
    Pro
    Honolulu,, Hi.

    What do you have invested in tools?
    I have a lot of time sitting in front of this computer,, what’s that worth??

    #376952

    Between my personal tools and the company tools and equipment we have 10’s of thousands of dollars invested. I know we can get by on less but for us, when it is our livelihood, having backup tools and specialty tools to keep projects moving smoother or quicker make sense.

    You have to ask yourself how you can justify a purchase. Everyone will have different needs/wants for what they do.

    The other side of my coin is I too just like tools…to use not to showcase. Take the Bosch 10.8v drywall screwgun I imported from the UK. I had a need for that type of tool but had a want for that specific one. I am fortunate in life to (sometimes) get what I want as well as need…only has to make sense to you.

    Andrew

    A Working Pro since 1995!

    Member since March 26, 2014.

    #377026
    Doobie
    Moderator

    I should put it all on a spreadsheet, but that would take me a long time to itemize. I might just snap pictures of everything and keep that.

    Anybody can show a list, how much is that worth with an insurance claim, probably has the same value as writting it on a napkin. Might as well be on toilet paper in fact if you know what I mean. Lol!

    I keep my owners manuals in binders in a seperate room from where my tools are mostly with a photocopied receipts also for insurance and warranty purposes. Thieves won’t go looking for your owners manuals unless they are staring them in the face typically. Insurance companies can’t argue receipts. Originals all go in a fire proof file cabinet in basement.

    Insurance companies can be a real PITA at claim time. Been there, done that! They try to whittle you away if you don’t have solid proof of what you had.

    Taking pics of your stuff doesn’t hurt either. Especially to substantiate the small stuff ypu had.

    #377027
    RonW
    Moderator
    Holladay, Tn

    What do you have invested in tools?
    I have a lot of time sitting in front of this computer,, what’s that worth??

    I have spent a bunch of time in front of mine over the past year. Almost like having a part time job.

    Ron

    A Working Pro since 1994!

    Member since March 26, 2014.

    #377031
    smallerstick
    Pro
    North Bay, ON

    I just took the value of the half dozen big tools, added the same amount for my planes and hand tools (as a quick and dirty) and same amount again for everything else. So big ticket value X3

    I like that. Good way to ballpark.

    BE the change you want to see.
    Even if you can’t Be The Pro… Be The Poster you’d want to read.

    #377047
    Anonymous
    Inactive

    I have a lot of time sitting in front of this computer,, what’s that worth??

    Only you can put a value on what your time is worth, and how to spend it. I don’t think most of us really get a hold of that until it’s almost gone.

    #377049
    Anonymous
    Inactive

    Insurance companies can be a real PITA at claim time. Been there, done that! They try to whittle you away if you don’t have solid proof of what you had.

    I’ve had a couple of claims involving tools in the past – one very substantial, and one a little less so. Neither of them required more than an itemized list done from recollection. No serial numbers, no proof. I guess it depends on the insurer, and possibly on the insured.

    #377056
    r-ice
    Pro
    Durham region, ON

    I was also told that if you can to serialize or mark your own gear as well. Helps with identification of stolen property.

    #377163
    smallerstick
    Pro
    North Bay, ON

    I was also told that if you can to serialize or mark your own gear as well. Helps with identification of stolen property.

    I do a walk through with a video camera every so often to keep up with changes.

    BE the change you want to see.
    Even if you can’t Be The Pro… Be The Poster you’d want to read.

    #377169

    Not quite the answer to the same question, but if I was building from nothing and had available (but not unlimited) budget, for my current needs, I would want

    1. Drill/Impact/Hammer Drill Set
    2. 18V Circular Saw
    3. 18V Jigsaw
    4. 18V Recip
    5. Random Orbit Sander
    6. Plunge Router
    7. Track Saw (Festool maybe)
    All in LBoxxes, with applicable accessories for each

    Small Table Saw (4100 or GTS1031)
    Dewalt Thickness Planer
    General Benchtop Helical Jointer
    Bosch glide mitre saw
    Benchtop Router table
    Good Shop Vac with Dust Deputy
    Twin-tank or pancake Compressor

    Split Top Roubo workbench
    Black Bear Forge Holdfasts
    Wooden Leg vise with chain
    Veritas or Lie Nielson Block, LA Jack, Jointer Plane, Smoothing Plane
    Card scrapers
    Backsaw
    Bench and Mortising Chisels

    Screwdrivers
    Hacksaw
    Hammers/Mallets
    Ratchet and Box Wrench Sets

    PPE: Boots, gloves, respirator, goggles, ear protection, etc

    Im sure there are a few other things that will come to mind, but that would replace and/or upgrade the stuff I use, and drop the stuff that takes up space for nothing.

    #377181
    58Chev
    Pro
    Etobicoke, ON

    I would hate to sit down and go through what I have in tools to find out what I have invested and I could always use more tools.

    As @Doobie said “I refuse to answer this question on the grounds it may infuriate my wife should she read it. Lol!” 🙂



    @r-ice
    and my daughter will have fun sorting through it all when I kick the bucket. At least most of the hand tools are now in a large tool chest.

    “If you don’t pass on the knowledge you have to others, it dies with you”
    — Glenn Botting

    #377218
    Rob
    Pro
    Birmingham, Alabama

    My heart, my back, my whole life…

    #377221

    We did the insurance list a few years ago and added a rider to our policy for replacement cost of our tools. We need to update the list again. Replacement cost was important to us because if our trailer was loaded at a job and was stolen it could be a big hit financially if you only got depreciated value from the insurance company.

    Andrew

    A Working Pro since 1995!

    Member since March 26, 2014.

    #377222
    smallerstick
    Pro
    North Bay, ON

    My heart, my back, my whole life…

    Good one, Rob.

    BE the change you want to see.
    Even if you can’t Be The Pro… Be The Poster you’d want to read.

    #377236
    ChadM
    Moderator
    Rogers, Ohio

    We did the insurance list a few years ago and added a rider to our policy for replacement cost of our tools. We need to update the list again. Replacement cost was important to us because if our trailer was loaded at a job and was stolen it could be a big hit financially if you only got depreciated value from the insurance company.

    I have a replacement rider on my tools too. My insurance agent recommended that I keep a list of all my tools and serial numbers…it has been 2 or 3 years since I updated that list. Looks like I have something to do on Sunday…..

    Chad

    A Working Pro since 1993

    Member since 12/07/2013

    #377363

    I wonder what would happen if I asked a guy that works on computers how much his/her tools or worth. Would that count the 20 yeas of buying various parts, tools, upgrading count as well? Or would a framer, electrician, drywall…. , could I expect the same answer? Do you keep your tools , sell off and replace, like everything new….? Not trying to be jerk, ( haven’t heard the word jerk since I was a kid,heard it used not long ago, had to use it). Just so many variables. What tools are you asking about?

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