Household Tool Inventory, typical?

[rookie_steve]

Hey all,

In the process of cleaning my garage I found a way to procrastinate by performing a tool inventory.

Does YOUR household tool inventory look like mine? I'm not ready to show photos yet so I have a list below. I know that even 10 years ago my inventory is not nearly the same as it is now and wouldn't expect yours to be similar but it might be interesting to see other people's tool inventory. My inventory below represents an accumulation of 30 plus years and does not include lawn and garden tools.

http://kcwelder.com/graphics/tools.jpg

And it's also interesting to see how much we all spend on tools... I am sure the pros spend much more money than I have.

============================================

TOOL INVENTORY TOTAL COST: $7,447

description, yr acquired, approx cost

POWER TOOLS $2,074

battery charger, 10amp, Sears, 1979, $30
buffer, polisher 7" Craftsman, 2008, $40
buffer, polisher, sander, 7" HF, 2009 $30
chain saw, 15"", w/case, Stihl, 1979, $160
Dremel 300, variable speed, 2009, $50
drill, 3/8" corded, 1971, $30
drill, 3/8" corded, Craftsman, 1985, $40
drill, 3/8" 14.4v, VSR, B&D, 2004, $80
generator, 5kw, 13HP, KingCraft, 2006, $400
glue gun, hot, Craftsman, 2007, $30
grinder, angle 4.5", Skil, 2007, $45
grinder, angle 4.5", HF, 2009, $20
grinder, bench, 6", Craftsman, 1985, $60
heat gun 1985, $30
pressure washer, 1850 psi, electric, 2007, $90
router, 1.5HP, Craftsman 1985, $60
sander, palm, KingCraft, 2006, $30
sander, flat, B&D, 1973, $25
sander, belt, Craftsman, 1985, $60
sander, detail, Ryobi, 2009, $30
sander, corner, KingCraft, 2009, $14
saw, jig, Craftsman, 1985, $50
saw, reciprocating, KingCraft 2006, $40
saw, circular, 7.25", B&D, 1971, $30
saw, circular, 7.25", worm drive, DeWalt 2000-08, $95
staple gun, electricm 2009 $30
welder, arc, Miller Thunderbolt XL ac-dc" 2009, $475


AIR TOOLS $897

air compressor, 4HP, 60gal, Campbell Hausfeld, 2009, $539
air hose, 3/8"", 50', Porter-Cable, 2009, $35
air filter, w/regulator, Milton, 2009, $99
couplers, assorted, 2009, $50
cutter, 3", Central Pneumatic, 2009, $10
cutter, 3", used, Central Pneumatic, 2009, $5
grinder, die, used, Central Pneumatic, 2009, $10
grinder, die, angle, Central Pneumatic, 2009, $10
grinder, 4" angle, Central Pneumatic, 2009, $24
impact wrench, 1/2", used, Central Pneumatic, 2009, $25
paint guns, HVLP, Central Pneumatic, 2009, $70
sander, 6" DA, Central Pneumatic, 2009, $20


HAND TOOLS $1,612

allen wrench set (13), hex, SAE, Titan, 2009, $9
allen wrench set (9), hex, metric, Titan, 2009, $9
axe, w/sledge, wood splitting, 1979, $30
body shop tool set, assorted, 2008, $30
bolt cutter 2008, $75
breaker bar, 1/2", Craftsman, 1996, $20
breaker bar, extension pipe" 2007, $2
"C" clamps, assorted, 2006, $20
"C" clamps (3), 5-inch, 2009, $15
chisels, metal, assorted, 2009, $35
chisels, wood, assorted, 2009, $25
clamps, Vice Grip, assorted, 2008, $60
crow bars, assorted, 2008, $50
DREMEL, attachment set, 2009, $30
drill bits, wood, Irwin, 2006, $30
drill bits, general, Dewalt, 2006, $30
drill bits, Forstner, Peachtree, 2008 $20
driver bits, drill, assorted" 2007, $5
driver, speed, 2009, $10
dykes, assorted, 1984, $20
extension handle, paint roller, 2006, $10
extensions, socket, assorted, 1986, $30
files, assorted, 1996, $30
hammer, ball peen (2), 2009, $25
hammer, claw (5), 2002, $50
hammer, sheet rock, 22oz., Estwing, 2009, $30
hammer, sledge, 32oz, 2007, $30
mallet, rubber, 2008, $5
nut driver set, 1996, $40
oil filter socket (2), 2007, $18
plane, hand, assorted, 2008, $35
pliers (4), channel lock, assorted, 2009, $40
pliers (3), needle nose, 1986, $20
putty knife, assorted, 2008, $5
ratchets, assorted, 1/4", 3/8", 1/2", 1986, $75
rasp 2006, $10
rivet gun, Stanley, 2009, $23
saw, hack (2), 2002, $20
saw, narrow blade, 2001, $10
saw, miter (2), 2009, $10
saw, hand, 1991, $25
scraper (3) 2009, $15
screwdrivers, slotted, assorted, 1983, $40
screwdrivers, Phillips, assorted, 1982, $40
screwdrivers, splined, set, 1996, $30
shears (2), scissors type, metal, 2009, $10
socket set, SAE, 3/8 drive, Craftsman, 1986, $25
socket set, metric, 3/8 drive, Craftsman, 1986, $25
socket set, impact, SAE, Pittsburg, 2009, $25
soldering iron, 20w, 2009, $15
soldering iron, 40w, 2009, $30
soldering gun, Weller, 1986, $30
soldering iron, sucker type, 1986, $20
vise, 5-inch, KingCraft, 2006, $15
vise, 3-inch, Wilton, 2009, $18
wedge, wood splitter, 1979, $10
wire brushes, hand, assorted, 2009, $10
wire brushes, power tool, assorted, 2008, $10
wire crimper 1993, $8
wire strippers, large, 2007, $20
wire strippers, small (2), 2007, $20
wrench (2), Crescent, 2009, $30
wrench (2), rubber strap, Am Pro, 2007, $20
wrench set, combination, SAE, Craftsman, 1986, $40
wrench set, combination, metric, Craftsman, 1986, $40


MISCELLANEOUS $1,589

tool chest, rolling, machinist, Craftsman, 1983, $170
tool chest, top mount, machinist, Craftsman, 1983, $150
tool case, leather, electronics, 1986, $0
tool box, metal, medium, Craftsman, 1981, $30
box cutter (3), 1986, $15
brake, metal, 2009, $50
brush, tooth (3), $0
cart, utility, welder, KC Welder, 2009, $70
code reader, OBD II, Cen-Tek, 2009, $40
creeper, 2006, $35
electrolysis kit, bucket, electrode, 2009, $9
extension cord, 25', 12ga, 2009, $30
extension cord (2), 50', 14ga, 1994, $80
extension cord, 10', generator-welder, 2008, $35
extension cord, 25', generator-house, 2009, $50
flash light (4), 2009, $30
flash light (2), LED, 2009, $14
funnel, (3) plastic, 2007, $10
glasses, safety, AO Safety, 2009, $8
googles, safety (3) AO Safety, 2009, $16
hose, rubber, pneumatic testing (2), 1987, $0
jack, hydraulic, floor, 2-ton, 2007, $20
jack stands (2), 2007, $10
jumper cables, 10', car battery, 2000, $30
knife, 5", inherited, Grandpa's, 1985, $0
level, bullet (2), 2009, $15
level, 16" (2), 2009, $5
level, 48", 1986, $60
light, shop, incandesc, 2002, $15
light, shop, w/ext cord, incandesc, 1988, $20
light (3), 250w, shop, Halogen, portable, 2008, $16
light, 1000w, shop, dual Halogen, stand, 2008, $30
magnet, corner (2), welding, 2009, $20
magnet, remote pickup, 2007, $5
mask, full-face, AO Safety, 2009, $32
mask, welding, auto-dim, Radner, 2009, $70
multimeters (3), Cen-Tek, 2009, $10
oil change reservoir (2) 2001, $20
paint brushes, assorted, 2007, $25
paint roller, 2003, $5
paint pan, 2003, $5
ramps, car, oil change (2), 1996, $30
ruler (2), 12", metal, 2009, $5
saw blades, wood, 7 1/4", assorted, Irwin, 2008, $30
saw blades, recipricating, assorted, 2007, $15
shop rags, red, 2009, $10
shop vacuum, Craftsman, 1985, $40
shrinking disk, Ebay, 2008, $35
speed square, 2009, $5
stand, grinder, Clarke, 2008, $30
stool, shop, 26", GRIP, 2009, $12
strap, elastic (3), 2009, $12
T-square, large, 1985, $40
T-square, small, 2009, $15
tape measure (2), 25', Stanley, 1983, $60
tape measure, 100', Lufkin, 1979, $30
tape measure, 25', plastic, MetalbytheFoot, 2009, $0
tire pressure gauges (2), 2008, $15


CONSUMABLES $818

electrode, 1/16", Quick Strike, 5lbs, 2009, $40
electrode, 6011, 3/32", Radner, 5lbs, 2009, $8
electrode, 6011, 1/8", Hobart, 5lbs, 2009, $8
electrode, 6013, 3/32", Lincoln, 5lbs, 2009, $8
electrode, 7018, 3/32", Radner, 5lbs, 2009, $8
sand paper, sheet, 60 grit, 3M, 2008, $6
sand paper, sheet, 100 grit, 3M, 2008, $6
sand paper, sheet, 150 grit, 3M, 2008, $6
sand paper, sheet, 220 grit, 3M, 2008, $6
sand paper, sheet, 400 grit, wet or dry, 3M, 2008, $6
sand paper, sheet, 600 grit, wet or dry, 3M, 2008, $6
sand paper, sheet, 800 grit, wet or dry, 3M, 2008, $6
sanding disk, 6", 80 grit, qty 50, 2009, $20
sanding disk, 6", 180 grit, qty 50, 2009, $20
sanding disk, 6", 320 grit, qty 50, 2009, $20
sanding disk, 7", assorted, HF, 2009, $20
sanding sheet (10), detail, 60grit, Norton, 2009, $8
sanding sheet (10), detail, 100grit, Norton, 2009, $8
sanding sheet (10), detail, 150grit, Norton, 2009, $8
flap disks, grinder, assorted, 2009, $50
cutting disks, 3", 2009, $20
cutting disks, 4", 2009, $20
grinding disks, 4", 2009, $20
sanding belts (8), 3"x21", 120 grit, Sears, 2008, $25
batteries, AAA, 2008, $8
batteries, AA, 2009, $7
batteries, C, 2008, $6
batteries, D, 2009, $12
batteries, 9-volt, 2008, $5
body filler, Bondo, qt, 2008, $15
bonnets, polishing, 2009, $20
cable ties, assorted, 2009, $15
cheese cloth, $2
cleaner, acetone, gal, 2009, $30
cleaner, alcohol, denatured, gal, 2009, $15
cleaner, brush, qt, 2006, $7
cleaner, hand, Goop (2), 2009, $4
cleaner, lacquer thinner, gal, 2009, $20
cleaner, Zep, 2009, $0
cover-alls, paint, 2009, $8
filter, air, shop vacuum, Craftsman, 2009, $19
gloves, Nitril, 100-pk, 2009, $10
gloves, latex, 2009, $10
gloves, leather, assorted, 2009, $40
glue, Gorilla, 2009, $9
glue gun sticks, 2008, $21
lamp, replacement, halogen, 250w, 2008, $5
lamp, replacement, halogen, 500w, 2008, $5
marker, black, Sharpie (5), 2009, $10
masks, particle, 2009, $10
oil, 3in1, $4
oil, air tool, 2009, $5
oil, cutting, 2009, $8
oil and water separator, airtool, Mechanics, 2009, $15
paint, black, enamel, Krylon, 2009, $5
paint, yellow, enamel, Krylon, 2009, $5
paint roller pan (2), 2003, $6
paint roller pan inserts, plastic, 2004, $10
polyurethane, Minwax, 2008, $15
primer paint, self-etching, Mar-Hyde, 2009, $17
primer paint, filler, Dupli-Color, 2009, $10
rivets, 2009, $10
shoe covers, Ez-One, 2009, $5
stain, wood, oak, Minwax, 2008, $7
staples, for staple gun, 2010, $11
tape, masking, 1", blue, Scotch, 2009, $4
tape, masking, 2", 2005, $5
WD-40 (3), spray can, 2009, $10


ELECTRICAL SUPPLIES $271

alligator clips, assorted, 1980, $10
light fixture (7), T8, fluorescent, 2009, $90
outlet, 120v, 1984, $6
outlet cover, 1984, $2
round eye lug, crimp, 1984, $5
solder, several rolls, 2008, $20
spade lug, crimp, 1984, $5
switch cover (10), 1985, $13
tape, electrical (2), 2009, $5
wire nuts, assorted, 2008, $15
wire, household, 250',14ga-2, w/ground, Romex, 2008, $40
wire, household, 100', 10ga-2, w/ground Romex, 2009, $60


HARDWARE $136

anchors, screw, assorted, $5
assorted bag of screws, nuts and washers, $0
assorted case of lg screws, nuts and washers, $40
cabinet, yellow, small, 1982, $18
caddy, assorted screws, washers, nuts, etc, 2007, $18
cotter pins, 1", 2009, $3
screw, sheet metal, panhead 5/8"x8" 2009, $5
screw, machine, Phillips, 1/4"-20x3/4", 2009, $5
screw, wood, slotted, #10x1", 2009, $6
screw, wood, Phillips, #8x1"-1/4", 2009, $6
screw, hex head, self-tapping, (25) #14, 1"-1/4", 2009, $4
nut, machine screw, 1/4""-20, 2009, $4
washer, flat, 1/4", 2009, $6
washer, flat, 1/2", 2009, $4
washer, lock, 1/4", 2009, $6
washer, lock, 1/2", 2009, $6

[DSW]

Kudos for the through list. Some numbers seem low to me personally. I hope you took picts and listed serial numbers for insurance purposes since you did a dam fine job making a list.


Why the F do you still have straight slotted screws?!!

I bet I go to almost $1K in nails and screws alone, let alone misc nuts and bolts.
At least $500 in Tapcons and concrete anchors.
Probably $1K in scrap steel/shorts.

Air tools looks close, but my compressors would push $2K easy by themselves.

Welders, torches $6K+

Hand tools $6-8K+

[rookie_steve]

Originally Posted by DSW

Kudos for the through list. Some numbers seem low to me personally. I hope you took picts and listed serial numbers for insurance purposes since you did a dam fine job making a list.

He-he, yup I thought about "insurance" but there is ALWAYS someone around not to mention an excellent alarm system, cameras and other surprises. But thanks for checking.

BTW, I generally buy on low prices or used even if I don't "need" them at the time. And older tool prices are my best price guess.

Steve

[DSW]

Originally Posted by rookie_steve

He-he, yup I thought about "insurance" but there is ALWAYS someone around not to mention an excellent alarm system, cameras and other surprises. But thanks for checking.

Hmm.. Fire perhaps? Tornado or storm damage? Didn't cost me much to tack on a few thou to my insurance policy to cover my personal tools, I'll bet less than $25 per year for $50K added coverage. I don't have to itemize anyindividual item less than $1500. Even with that I bet I'm still a bit low if I went and spent the time to go over everything today as thoughly as you did. Keep in mind WHEN $hit happens its too late to get insurance or go back and try and make a list with photos.

I used to have a renters policy with the same guys I had for my auto insurance. The $150/ year saved me over $400 because of the multi line discount. Hmm... I save $250 on my auto ploicy AND you'll give me $50K of insurance for FREE.... Thats a no brainer!

[rookie_steve]

Originally Posted by DSW

Hmm.. Fire perhaps? Tornado or storm damage? Didn't cost me much to tack on a few thou to my insurance policy to cover my personal tools, ...Thats a no brainer!

Sorry, I didn't mean to say I don't have insurance. It is required for mortgaged home owners. I was really speaking about theft because of my openness of what I have. In fact, I just combined my home and auto insurance with American Family this past week and saved a GREAT deal of money, I think about $400 per year in total. But it would be bad to have a loss in any case because my list represents more work than I wish to try to accumulate again.

Steve

[farmersamm]

Yup, insurance AND PICS is a must.

CD in safety deposit box

And if you're lucky, remember hurricane Reta, you might get back ten cents on the dollar

I love insurance doods. A mark of a good insurance rep is being to tell you within a millisecond what's not covered.

Kinda like throwin money away in the stock market.

[denrep]

When's the garage sale?

[rookie_steve]

Originally Posted by denrep

When's the garage sale?

Ha-ha! Your excellent avatar reflects your point of view perfectly!

Steve

[farmersamm]

At my age, I'm thinkin' how the next owner will enjoy my stuff after he/she picks it up at the estate sale.

[denrep]

Originally Posted by rookie_steve

Ha-ha! Your excellent avatar reflects your point of view perfectly!

Steve

Does that mean the sale is Friday or Saturday?

[scott brunsdon]

Wow, when I procrastinate I just sit around and read the paper or something. That's a heck of a list - must have taken ages.

[FormerTankSarge]

You've been in my Garage?

[kneedeep]

I had to give an itemized list for ins when i bought my house was surprised when it came in at around $20 000 thats over the counter costs for full replacement even tho I bought alot used (like90%).

[elvergon]

I envy you guys so much.

[wirehunt]

Household Tool Inventory

3 or 4 flat tip screw drivers
2 or 3 phillip's screw drivers
Claw hammer (east wing)
nail bag with some nails in it and maybe even some screws
1 knackered tape measure
1 level same as above.
And I think there might be a $20 drill about that still works.


I leave the tools at work for work. Have the bloody thing's at home and these bums come around wanting 'little' jobs done all the time.

[app-ironworksllc]

Ugh. I've been needing to do what you've done since Jan. for insurance and taxes. I'm not looking forward to that job because it entails cleaning my basement. It will be a multiple day job.

Replacement values, off the top of my head.

welders- $10k

equipment-$10k

gas bottles $1.2k

blacksmith equipment $1.5k

power tools $8k

hand tools $20k

compressors $3k

Been collecting a little here, a little there for several (maybe more than several) years. Now that I started my shop in January, it all gets "sold" to the business. So technically it is a household list, just not your typical household. Don't ask about my toy&parts collection. Every car I own (4 right now) seems to bring its own entourage of extra pieces. I think I have enough 65 Falcon parts to build two complete drive trains. ( I can't decide which to build the Cleveland for nostalgia's sake, or cheap out and use the Windsor, or prepare for future socialist gas prices and build it back to stock I6 with 3 on the tree.)

[DesertRider33]

You would be very smart to get an Inland Marine insurance policy on your tools. I have one that covers my tools if they are stolen at my property, on my truck or on the job site, with a $100 deductable, up to $30,000. Cost about $45/month. Inland Marine is a type of policy, not a brand name of insurance company and it has nothing to do with boats or water. It's just what the industry calls this type of policy.

I got this policy on the advice of some of the members here and my insurance agent, after the last time my truck was broken into and the Suitcase VS feeder was stolen. My home owners policy covered the feeder but only paid $1000, about half of what it cost to replace it. The Inland Marine policy will pay for full replacement cost, minus the $100 dedcutable.

[app-ironworksllc]

Originally Posted by DesertRider33

You would be very smart to get an Inland Marine insurance policy on your tools. .....

Yup you're right. That's one of the needs for the list. My agent, who really does a great job has got a provisional IM rider for 50k till we get the list done.

I am really looking forward to going over this with my accountant. Since I personally bought all this stuff over the years it will get "sold" to the business, which essentially on paper assumes the debt to me for the value. Then It gets called capital investments which have some decent tax breaks right now because of the stimulus crap.

[Burnit]

The largest wedge in that pie chart should actually be labeled "Time",
because you apparently have alot of it.

[denrep]

Originally Posted by app-ironworksllc

. . . Replacement values, off the top of my head.

welders- $10k

equipment-$10k

gas bottles $1.2k

blacksmith equipment $1.5k

power tools $8k

hand tools $20k

compressors $3k . . .

No problem. An insurance adjuster can turn all that into $2500 with the stroke of a pen.

Some may disagree, but I don't have much use for insurance companies or their products.

Unless insurance is required by law or contract, or is needed to cover a potential loss that absolutely couldn't be absorbed, chances are I won't recommend their "so-called" coverage.

If I take a loss, I'd just as soon know immediately where I'm at, so I can move on with a recovery plan; hopefully starting with saved premium dollars.

I guess I just cant put much stock in insurance companies; not after seeing how they'll put an adjuster on the line to stick it to their former "best buddy/customer" when it comes time to cover a loss.

Good Luck

[Boostinjdm]

Originally Posted by app-ironworksllc

I am really looking forward to going over this with my accountant. Since I personally bought all this stuff over the years it will get "sold" to the business, which essentially on paper assumes the debt to me for the value. Then It gets called capital investments which have some decent tax breaks right now because of the stimulus crap.

I been wondering how that type of transaction works. Right now all of my tools are personal items, but I am thinking that sometime in the future I should "sell" them to the business. Either that or maybe rent them to the business.

I'm with Denrep on the whole insurance thing. American Family tried to screw me twice. First on the house that I paid cash for, the premium would have equaled the purchase price of the house in less than 10 years. Second, on my bike. I paid cash and owned it free and clear. They wanted like $2k a year for liability only on a $6k bike. I immediately told them where to stick it and cancelled every policy I had with them. I now pay $75 a year for my bike ins. And saved several hundred on my other vehicles. Don't even get me started on the health insurance. I pay cash for routine stuff. If I have anything major happen, I'll liquidate or let the gubment take care of it. Illegals get free care, why can't I? Rant over....

[Oldtimer]

In my one insurance experience with tool coverage I found out that you don't get what the tool originally cost to replace it. The insurance company said they were used and not worth what they originally cost and paid me a depreciated amount for each tool. I got around 50% of the original cost, even on some that were almost new. The insurance company got some input about my thoughts on their business practices which made absolutely no difference to them. I also quit making anymore payments on my policy as soon as I received their check.

Most insurance companies rank right up there with lawyers and politicians for ethical conduct in my book. The Hartford seems to be an exception. I had a very large claim a few years ago for storm damage both to my home and a truck. They paid off with no problems. Didn't short me on any of the coverage. I also check cost of coverage regularly with other companies. I can't find anyone that comes close to their prices in my area.

[app-ironworksllc]

Originally Posted by Boostinjdm

I been wondering how that type of transaction works. Right now all of my tools are personal items, but I am thinking that sometime in the future I should "sell" them to the business. Either that or maybe rent them to the business.

..INS. Rant... i agree but sometimes it's a necessary evil... Rant over....

Another point my accountant told me was my business could assume the debt call it a loan, as part of the bigger "loan package" that includes all money spent on start up.(alot) Then as the business is getting on its feet financially, I could use loan repayments in lieu of a salary and save a little on income tax.

[denrep]

Originally Posted by app-ironworksllc

Another point my accountant told me was my business could assume the debt call it a loan. . .

To be held valid, most of these type transactions depend on the business keeping its own distinct and separate autonomy from the owner/seller/lender.

Of course loan payments would be construed as income by whoever receives them.

Good Luck

[Felonyass Monk]

Howdy All
If i were to make a list of all my tools and hardware there is no way they will fit in my shop,so rather than put a tear in the fabric of that time/space conundrum ill crack another MGD and let it Be.
Felon