[Newbie] Wisefixer - What Are These?

What holder is used for the collet size? What is the tool used for?

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Finally: Nice info from Dave Smith. I bought the item he suggested and it works perfectly. Knows his stuff.
 
sure glad it worked good for you---41 collets that cover up to 1/2" is really a shop benefit-----I have an older Balas collet set that I finally found some collet holders for--it is a shame to have that many collets and no holder to use them in---special collets are really expensive and really useful to have----Dave
 
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