Question for you tool lovers

If you had to start over, to replace your equipment and power/hand tools.
How much money would it take?
I need to come up with a budget.
Excluding the lathe and mill, I think at least $25,000 for hand and power tools and another $7,500 for lathe/milling accessories.
New lathe and mill, $18,000.
Welding and plasma, $6,500
What say you?

 

The good thing is I won't need many of the tools I acquired over the years. I don't do wood work anymore, I have pretty much stopped working on cars so all the air tools won't be necessary. !!Ah, Compressor-- I forgot about it. DANG it.
Another thing, I won't be going back into the reloading gear I had. There must have been 15 dies and 2-3 presses with all the goodies.
Anyway, a streamlined focus will make the acquisition easier.
Bob is right, it's not about the quantity or having the best, but I have learned I will not buy worn out equipment unless I have the ability and energy to fix it. You learn as you go.

 

Yeah, can't forget the air compressor! The more air the better ---- I like air tools much better than electric, so compact!

 

I’m pretty fussy about my quality of work, even if it is hobby shop stuff. I want the best tools money can buy. That way, if my projects don’t look that great, I can’t blame my tools, only myself.

 

Hi Jeff,

From an insurance valuation view point, I don't think that you are far off. Its very hard to account for all the little things that you may not use every day.

 

I’m pretty fussy about my quality of work, even if it is hobby shop stuff. I want the best tools money can buy. That way, if my projects don’t look that great, I can’t blame my tools, only myself.

Yes, I also want the best tools that money can buy, but I like to buy them cheaply, always trolling E Bay! That said, I have too much stuff already, just ask my wife ---

 

Remember the good ole days when you could find a deal on E-bay?
The only recent deal I have found was a set of 3, 4" KANT-TWIST clamps for $48 delivered.
IMHO they are few and far between.
I would imagine they are probably ruined in the fire though.
It will be interesting to see what is salvageable in the metals category.

 

Yes, fleabay “was” a good source for my toolaholic addiction, not anymore. If you need something special, give me a shout, I might have it…Dave

 

The good thing is I won't need many of the tools I acquired over the years.

I too, have spent my whole life acquiring tools. My Dad was a construction contractor, with a big bunch of wood working tools. He dabbled in the mechanical side as well, and I have many of his tools from both disciplines. I have no idea how much money I have spent myself on this lifestyle. What I DO know is that my interests have changed as time passed. If I faced your decisions, I agree with you that many of those tools would not be replaced, and would not be missed. Again I have to say your attitude is an inspiration to me! Best of luck in finding what you require, and recognizing what you don't.

 

I’m going back to my question for a tool budget because it will be a reality.
Very difficult. If you and your spouse received a check for let’s just say $250,000.
That money is your budget for all household goods, furniture to refrigerators to washing machines, clothes, shoes, art supplies, paintings and everything in your garage or shop.
It seems like a lot of money doesn’t it.
I had at least $70,000 in tools over a lifetime, probably more.
But to say to your spouse, I’m going to need 1/5th of the budget to set up my shop?
That won’t work in my household. Well, it might if we had $80,000 left over after the new home was COMPLETELY furnished.
This is a tough one for me.
We will forward all proceeds to our financial guy. If we don’t buy a home for a year or two that money including the dwelling replacement check can grow at least 20%.
I can tell you this, I will be watching Craigslist and looking for deals along the way.
I enjoy buying needed tools but I don’t think it is going to be much fun. I think most of us would hold that money close to the chest, not wanting to spend unless absolutely necessary, of course we should do that anyway but I have a tool addiction.
Thanks for listening,

 

My first paycheck I ever made went into tools. A 3/8" drive Oxwall metric socket set. I'm 4 years retired, so I've been at this for a while. The only new machines I've bought were a Delta Unisaw, Miller MIG and a Chinese TIG . The rest have been picked off CL or at auction and repaired to better than new, that's why I have machine tools... I shudder to think about replacing them, I really don't think it could be done. Those woodworking machine tools would eat up a $100,000 pretty fast. Then there are the machine tools, hand woodworking tools, and mechanic tools.