Author Topic: Tool Auction Heads Up  (Read 1314 times)

Online Jo

  • Administrator
  • Full Member
  • *****
  • Posts: 15229
  • Hampshire, england.
Re: Tool Auction Heads Up
« Reply #15 on: November 19, 2023, 09:58:10 AM »
Totally agree with Dave and Krypto clearing workshops wastes too much time and by the time you lose 40% in inheritance tax you really have to question why you bothered doing it. Putting things in perspective the average house by me sells for nearly 1M and a workshop might realise tens of thousands if it is really really well equipped. Then the tax man takes his huge chunk of that money.

It is not worth the effort: I have told my family to flog it to a dealer and tell them to clear everything . The only negative to this for some people is that the sales value will have to be declared where as a few cash sales might not have been  :-X

Jo
Enjoyment is more important than achievement.

Offline Chipswitheverything

  • Full Member
  • ****
  • Posts: 541
Re: Tool Auction Heads Up
« Reply #16 on: November 19, 2023, 04:25:01 PM »
Jo, you are quite right - I nearly went on to mention the regressive Inheritance tax, nowadays levied on Britons, - single people in particular having just the one lesser allowance, - of quite ordinary means and property;  but I thought I'd been depressing enough for one comment!
  As things are at the moment, and for quite some years, since I decided about it, all of my workshop is left to a somewhat younger engineering friend and former colleague.  A knowledgeable and capable chap undeterred by moving heavy stuff!  ...   But I'm hoping to plug on in the hobby for quite a while yet !? , and this gentleman is getting older too! ....

 What does occur to me, in respect of models particularly, is that the survivability and appreciation, perhaps by family, of what has been made, is going to be much enhanced if models are complete, nicely finished, and fairly readily displayable without further ado.  As can be seen from dealers' websites, "projects" in various stages, perhaps with parts already made that have gone astray, fall into a very problematic area, sometimes huge amounts of skilled work left in a state of jeopardy. ( Which is why, though not implying the skill, with a proper plinth now made and everything painted at last, I am even now still bashing on with getting my wonderfully, endlessly, procrastinating Major Beam finally together! Might be as soon as next year..! )  Dave

Online Jo

  • Administrator
  • Full Member
  • *****
  • Posts: 15229
  • Hampshire, england.
Re: Tool Auction Heads Up
« Reply #17 on: November 19, 2023, 05:35:46 PM »
One thing worth doing for your inheritors is to add a label to each of your models (and casting sets) identifying what it is. If they choose to put it on Fleabay it will help the value it sells for.

None of my family (excluding Surus  :pinkelephant: ) has any appreciation of my models or their potential value.

Jo
Enjoyment is more important than achievement.

Offline crueby

  • Full Member
  • *****
  • Posts: 17863
  • Rochester NY
Re: Tool Auction Heads Up
« Reply #18 on: November 19, 2023, 06:40:27 PM »
One thing worth doing for your inheritors is to add a label to each of your models (and casting sets) identifying what it is. If they choose to put it on Fleabay it will help the value it sells for.

None of my family (excluding Surus  :pinkelephant: ) has any appreciation of my models or their potential value.

Jo
Leave it all to Surus then. Let HIS kids deal with it!    :Jester:

Offline mklotz

  • Full Member
  • *****
  • Posts: 2604
  • LA, CA, USA
    • SOFTWARE FOR PEOPLE WHO BUILD THINGS!
Re: Tool Auction Heads Up
« Reply #19 on: November 19, 2023, 07:06:12 PM »
One thing worth doing for your inheritors is to add a label to each of your models (and casting sets) identifying what it is. If they choose to put it on Fleabay it will help the value it sells for.

None of my family (excluding Surus) has any appreciation of my models or their potential value.

Most of my interests and hobbies are beyond the comprehension of my smartphone-addicted family so I keep a file on my computer wherein I keep notes on the location, possible value and identity of models, tools, books, collections, etc..

The family is aware of the file and its purpose but probably haven't read it yet since I email it instead of putting it on facebook or some other fatuous (spit) social medium.

It was probably a waste of time;  I fully expect it to be discarded along with the the stuff mentioned in it when I finally kick off.
Regards, Marv
Home Shop Freeware
https://www.myvirtualnetwork.com/mklotz

Offline Chipswitheverything

  • Full Member
  • ****
  • Posts: 541
Re: Tool Auction Heads Up
« Reply #20 on: November 19, 2023, 11:09:16 PM »
Re the recent auction of tools which started this thread, I have just seen some notices of it that members of the Quorn T&C grinder builders Forum have been posting. One at least of the members attended the auction and bought some items there.  He said that the specialist auction house ( experts!!) had managed to muddle up equipment that belonged to particular tools, so that what should have been all together for, say, the BCA small milling machine, collets and so on,  had been dispersed between four or five lots...  Model engineers attending knew what they were looking at, but the "experts" got it all wrong. So unless one bought other lots, mostly with unwanted extra stuff, it was not possible to end up with what was needful. As Marv suggests in a different context, probably very expert with the smart- phone!   Dave

Offline Charles Lamont

  • Full Member
  • ****
  • Posts: 299
Re: Tool Auction Heads Up
« Reply #21 on: November 20, 2023, 10:31:14 PM »
Where would I find that Quorn forum?

Offline Jasonb

  • Full Member
  • *****
  • Posts: 9273
  • Surrey, UK
Re: Tool Auction Heads Up
« Reply #22 on: November 21, 2023, 07:05:24 AM »
Where would I find that Quorn forum?

Under the bench along with all those sets of Quorn castings :LittleDevil:

Offline Charles Lamont

  • Full Member
  • ****
  • Posts: 299
Re: Tool Auction Heads Up
« Reply #23 on: November 21, 2023, 08:34:24 AM »
Yup, about 20 years seasoning - but it is the next major project

Offline simplyloco

  • Full Member
  • ****
  • Posts: 530
Re: Tool Auction Heads Up
« Reply #24 on: November 21, 2023, 09:17:16 AM »
Yup, about 20 years seasoning - but it is the next major project

Agreed. Quorn needs a great deal of seasoning!
John
https://www.quorn.co.uk/products/meat-free-mince
Strong minds discuss ideas, average minds discuss events, weak minds discuss people. ― Socrates

Offline Chipswitheverything

  • Full Member
  • ****
  • Posts: 541
Re: Tool Auction Heads Up
« Reply #25 on: November 21, 2023, 09:20:00 AM »
Charles, try https://groups.io/g/Quorn-Owners       Or,   Quorn-Owners@groups.io    It used to be a Yahoo! forum group which got transferred, I still get emails pinging up from it.  There is a back catalogue of some useful information on the site, although as I found some while ago, not much practical help in specific details of using the Quorn once it's been built!  They either get built and are not much used!, or maybe never quite get finished! Dave

Offline mcostello

  • Full Member
  • ****
  • Posts: 84
  • Lancaster, Ohio
Re: Tool Auction Heads Up
« Reply #26 on: November 21, 2023, 09:56:23 PM »
Do You think that the machine and parts lots were possibly intentionally muddled up?  I have seen a Guy sorting tools and putting them in the right pile and the Auctioneer come right behind Him and put them back.

 

SimplePortal 2.3.5 © 2008-2012, SimplePortal