All Good Things Come To An End.

The short version: I am making an important change to how I conduct business going forward. As of today (Oct 6, 2023) I am asking that customers pay up-front for tools when they place their order.

The longer version.. I started buying and selling tools 23 years ago on the OldTools email list. Back then everyone sold tools using “Standard OldTools Terms” which meant sending the item first, then receiving payment. It’s a wonderful system and I’ve thoroughly enjoyed the ease and convenience it offers for both me as a seller, and you as the buyer. In my first 20 years of business I only had a small handful of people (less than 10 in 20,000+ transactions, yes I keep a list) not pay the invoice I send along with the tools. I assumed it worked because people who buy old tools want to buy more tools so they pay their invoices.

Then something changed. I can’t tell you what it was, nor do I want to speculate. In the past three years I’ve had a surprising number of customers, both old and new, not pay invoices. I’m also constantly chasing a small number of people who are consistently 90+ days late on paying. This came to a head this week as I gave up and wrote-off the invoices that are 180+ days overdue. I calculated the loss and it’s substantial.. Like close to half of the profit I’ll make this year. I don’t make a huge profit from this business. In fact, if I calculated my profit and divided it by the time spent to make that profit.. well I’d probably be pretty sad and likely in violation of my state’s minimum wage laws. I’m trying to keep things in perspective and look at the upside. I absolutely love this job. There are definitely worse ways to make a second income and keep the bills paid. I enjoy interacting with every one of you and thoroughly enjoy hearing what you are up to in the shop, around the garden, or just how the weather is this season.

I’ve updated my ordering instructions to reflect this change. In short, I will now send an invoice once you place an order. You’ll have 14 days to pay it after which I’ll put the tools back on the list. Once I receive payment I’ll ship tools within 24 hours (except for weekend, of course). Returns will still be accepted and encouraged with no questions asked.

So, I’m sorry it’s come to this. The vast majority of you pay on-time and without fuss. I really appreciate your loyalty and integrity. As always, it’s the few that ruin it for the majority. I appreciate your understanding. I’m happy to discuss if you have any questions. You can email me or leave a comment below.

Thanks for your support,

Josh