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TOPIC: evaulating how much tools are worth

evaulating how much tools are worth 11 Apr 2012 21:15 #1

  • Ken Norman
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Does anyone know how to affix value to used tools. Would one use a percentage of what the tool cost new ?
and I would suppose that it would matter what shape the anvil, or hammer, or tongs were in, ect ! :bs:
" The smell of a horse is good for the soul of a man "




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Re: evaulating how much tools are worth 12 Apr 2012 06:56 #2

  • chris bunting
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used tools are only worth what people are prepared to pay for them .
chris
common sense is not needed when you have rules
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Re: evaulating how much tools are worth 13 Apr 2012 01:55 #3

  • Ken Norman
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was posting for a friend who is going through a devorce, Lawyer told him that he needs to figure out what his tools are worth !
" The smell of a horse is good for the soul of a man "




Ken Norman , CF
Thornwood Farm Equines and Farriery
1696 Warren Switch
West Pawlet Vt. 05775
802-353-0705 cell
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Re: evaulating how much tools are worth 13 Apr 2012 04:11 #4

  • Jack Evers
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Seems like this is a lawyer or accountant question. Perhaps asign a life like 7 years for hand tools, 10 years for anvil and forge, then do a straight depreciation.
Jack Evers CJF AFA#426

The best things about the good old days -- I wasn't good and I wasn't old.

The older I get, the more horses I shoe, the fewer things that I can absolutely, positively fix.
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Re: evaulating how much tools are worth 13 Apr 2012 08:03 #5

  • chris bunting
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cash offer of 120 euros plus p&p , seems a fair deal to me
chris
common sense is not needed when you have rules
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Re: evaulating how much tools are worth 13 Apr 2012 08:18 #6

  • chris bunting
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Jack hand tools are replaced almost on a yearly basis so their value would be minimal / nil ,anvils would be valued at the market scrap value as should all the metal (shoes, nails , tools etc ) the forges as i said , whatever folk would be willing to pay (not a lot ) .
i suppose as always its different over there .
common sense is not needed when you have rules
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Re: evaulating how much tools are worth 13 Apr 2012 14:03 #7

  • Jack Evers
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Exactly why I called it an accountant, Lawyer question, Chris. My accountant does just expense my hand tools in the year I buy them. I recently bought a box with GE nippers, plus pulloffs, rounding hammer, rasps (2), driving hammer, hoof knife for $50 - could have had it for less, but didn't want to feel guilty.

A divorce that gets down to fussing about hand tools is getting nasty and could get nastier. In mine, we didn't even discuss things like my tools or her jewelery. Those were mine and hers. A couple things, like the diamond (a gift to me from my father, later her ring), we just gave to one of the kids, but it too often doesn't work like that.
Jack Evers CJF AFA#426

The best things about the good old days -- I wasn't good and I wasn't old.

The older I get, the more horses I shoe, the fewer things that I can absolutely, positively fix.
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Re: evaulating how much tools are worth 13 Apr 2012 15:24 #8

  • brian robertson
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I think the issue might be that Ken's friend has been running an under the table, cash only practice. Otherwise his depreciation schedule, in his tax records, would give him a current exact dollar value on his tools, equipment and inventory, which is what the judge wants to know. What he can sell used stuff for is immaterial; if it has been depreciate out, it has no value in the way of an dispersal of assets. But, depending on whether her lawyer thinks she was complicit in the fraud; he could be sooooo screwed. Boys, It's never good when you don't play by the rules...
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Re: evaulating how much tools are worth 15 Apr 2012 09:58 #9

  • Gabino
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Ken Norman wrote:
was posting for a friend who is going through a devorce, Lawyer told him that he needs to figure out what his tools are worth !

Your friend must give away his tools for his wife.If the wife wants money,she must work..
Gabino Fernández Baquero

www.farriergabino.com
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Re: evaulating how much tools are worth 15 Apr 2012 14:08 #10

  • brian robertson
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I once bought an anvil(for scrap price) that a guy's future ex wife used a cutting torch on. She managed to burn through almost 1/2 of it before she ran out of gas. He did say, he regretted teaching her how to run an acetylene torch.

I sold it as it a curiousity, at an artist blacksmith convention, for more than it was worth when brand new. I made a brass tag that read: Hell hath no fury like a women with a torch who was cheated on....
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Re: evaulating how much tools are worth 16 Apr 2012 07:22 #11

  • chris bunting
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i hope it was legal and went through your books Brian . I am with you Gabino , she should earn her own money
Chris
common sense is not needed when you have rules
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