Detailed workshop inventory and valuation.

[dbhost]

This is for those of you that like me want to "play it safe" in regards to homeowners insurance with your home based workshop....

How are you going about making / maintaining a current shop inventory and assessing the values?

After working the truck transmission problem, I had a chance to realize that my tool inventory might not be as complete as it needs to be, and that I am missing some high value items. (Several of my older Snap On specialty impact sockets are nearly $200.00 each...).

In the past, I have been maintaining a spreadsheet with the MFG name, Item name / number, brief description (I.E. Upgraded plane iron for #5 Jack plane), functional group (I.E. shaping, cutting, sanding, dust collection, Auto Testing etc...), a photo, of either the actual item as it is in the shop, or of like equipment, but I try to have photos of MY actual stuff... Quantity, cost per unit, typically either current retail, or what I paid, and I am thinking about adding a used cost column.

I have 2 problems. One is how do I assess the value of a no longer in production / sale tool such as the BT3100, and the second is more technological. With all the values / binary data I have here, I am thinking I am at the point where a database makes more sense...

Now I am not a database guy, never claimed to be. So I was actually hoping those with more database experience might be able to help me out here...

I am thinking about using OpenOffice.org / LibreOffice Base to build the database (that way I can share it among my Linux / Windows / Android devices...

Can anyone give me any pointers on how to import the data from my Excel spreadsheet into a Base database?

[BigguyZ]

Well, for my policy, value is replacement cost. So, if your BT3 would be an equivalent of a decent mobile saw that'd cost $350 to replace, the replacement value of the BT3 in event of a loss is $350.

As far as cataloging everything, I can't imagine how long it would take for my shop or one larger... What I've done as a stop gap measure is to go through my shop with a video camera and video every drawer, shelf, and bin. That way, I can retroactively get an inventory. I don't worry about being all that exact.

[jussi]

I made a spreadsheet and listed price I bought it for (either new or used), new price, and resale price.

[cwsmith]

I really don't know how to do a serious evaluation of any of my stuff (tools, radios', books, etc.) Seems like the 'value' an owner places on things is always much higher than it should be... at least when they want to sell it! I'm sure I probably place a higher value on my things too, though I never sell anything, preferring to 'gift' it to someone on those very rare occasions when I feel I need to part with it.

However, I do realize that at some point there could be a lost due to fire or even theft.... and for that I have no evaluation of it's actual worth, except that it would cost far more than I could afford to replace at this point in my life.

I do keep a inventory list of every power tool that I own. I am a big fan of 'databases', never really liking the limits of spreadsheets. I currently use Microsoft's "Access" database and design whatever I need to fit the particular items I am inventorying; for example, books, power tools, hand tools.

For power tools, that includes the date of purchase, serial number, price paid, and other relative information. I also have a copy of the receipts (scanned), and photos. I keep two digital files of everything.

I can only hope that should a loss occur, the insurance company will be fair about the resolution. But for determining the 'value' myself, I'm a bit challenged.

CWS

[atgcpaul]

Doing an inventory of my shop is an exercise I should do but dread doing--like real exercise, I guess.

We use Oracle and MySQL at work. I use a free program called SQL Developer (distributed freely by Oracle and requires a free Oracle account) to import/export Excel files to those database. I'm not sure if it's compatible with BASE, though--never heard of BASE, I'm not a real db guy either.

Do you really need to go as far as a database, though? Do you plan on having more than one table of data? It seems you could manage everything in just one table in Excel or the OpenOffice version of it. I'm thinking the minimum headers would be:

--Tool name
--Tool manufacturer
--Tool serial number
--Purchase date
--Purchase price (or replacement value assuming you didn't get a fantastic CL deal)

[dbhost]

As I understand it, OpenOffice.org Base is kind of the OpenOffice.org / MySQL version of like Microsoft SQL Express... A stripped down entry point...

I would rather deal with one entry at a time than scrolling through the whole spreadsheet. Once I get into the mechanics tool box, it gets ugly detailed REALLY fast because a LOT of my tools are one offs, not sets, for example the Dana 44 spline nut socket, and Dana 30 spline nut sockets are NOT from a set, but sold individually. The Snap On seal puller was bought separate from the snap ring pliers... etc...

I am literally over 500 entries at this point, and the number is still climbing. And no I am not listing each socket individually...

I do have replacement value insurance, but I am just not sure how to set the replacement value for fear something goes wrong...

I tried moving my Excel to Google drive, but the spreadsheet there stripped the pics out, and that is kind of a big deal. As I understand it from others that have had losses, photos and video go a HUGE way to proving what you have during a loss...

Some items I am at a loss for. Like my jointer. Sunhill went out of business, and the closest comparable machine on the market is the Grizzly G0725 which is considerably more expensive than the Sunhill machine was...

[atgcpaul]

So how do you plan to interface with your "db"? Constantly import from a spreadsheet?

I have data spread across several databases that I access and manipulate using ASP .net pages I wrote that are hosted on a web server. All of my development is done in Visual Studio. There used to be a VS express (free) edition. I also thought MySQL was free for home use. I know VS can talk to MySQL through an odbc connection.

There is also MS Access. It's not my favorite "db" but it has the ability to create forms with wizards so you can quickly create a form that will allow you to enter new data and also link to those images.

[dbhost]

Simple form access to the db... I know very old school, but it works. Already tested it and can access it from both my Windows 7 workstation and my Android phone...

[BigguyZ]

I do have replacement value insurance, but I am just not sure how to set the replacement value for fear something goes wrong...

What would the point of setting a replacement value now anyway? Costs go up and down, so if you have a Bosch 1617, the replacement cost now may be very different from the replacement value in 5 years. Unless you constantly update your spreadsheet/ database, it's not going to be accurate.

When my brother's place was pretty much destroyed by a tornado, the insurance company didn't really dispute his estimates for his items. He just put down what it would cost to buy a comparable replacement and that was what he was reimbursed.

[twistsol]

I maintain my tool list on a spreadsheet with brand, description, qty, serial number purchase date, suggested retail and price paid.

I also have my wish list on the same spreadsheet. I've look into a number of home inventory apps for the iPad that would let me attach pictures etc, but haven't yet pulled the trigger on one yet even though a number of them are free.

[dbhost]

What would the point of setting a replacement value now anyway? Costs go up and down, so if you have a Bosch 1617, the replacement cost now may be very different from the replacement value in 5 years. Unless you constantly update your spreadsheet/ database, it's not going to be accurate.

When my brother's place was pretty much destroyed by a tornado, the insurance company didn't really dispute his estimates for his items. He just put down what it would cost to buy a comparable replacement and that was what he was reimbursed.

Mostly for estimating. Mind you, whatever number I come up with, add 8.25% for sales tax...

[Knottscott]

Ya know....I'd forgotten that I made a tool inventory spread sheet for insurance purposes. It was several computers ago....wonder if I can even find it!

[BigguyZ]

Ya know....I'd forgotten that I made a tool inventory spread sheet for insurance purposes. It was several computers ago....wonder if I can even find it!

If your inventory from several computers ago is even mostly complete compared to what you have today.... you my friend have much more control over buying tools than I do!

[dbhost]

Ya know....I'd forgotten that I made a tool inventory spread sheet for insurance purposes. It was several computers ago....wonder if I can even find it!

Wow, from just 2 computers ago I can tell you exactly what my woodworking tool inventory was..

#1. Skil circular saw with stock blade. Still have it.
#2. Skil jig saw with B&D blades. Gave it to my nephew last month, replaced it with a Ryobi Orbital with Bosch blades, and loving it...
#3. Ryobi R161 router.
#4. Wolfcraft router table
#5. 3 gallon shop vac.
#6. 3M Rubber Sanding block
#7. Estwing claw hammer.
#8. Craftsman 6pc router bit set.
#9. Craftsman tape measure.
#10. Makita quarter sheet sander.

That's about it...

Yeah I have been busy building up the tool collection and shop, and not so busy updating my computers... I still have, and use a computer I built in 2002 with an AMD Athlon XP 2400+ processor... It's running Ubuntu 14.04 now, but it is still running...

[dbhost]

Going through the process, I was trying to figure out valuation on my old Skilsaw. I bought it in the 90s when I was in college working the tool dept of our local Ace Hardware / Lumberyard. It's a Skil 5150 from back in the day, and I found something interesting on the motor label when I was checking it out yesterday trying to find that model #...

Look at the lower right hand corner of the label...


Yep, that says Made in USA.

Too bad so few tools today say that... How can I put a price on that?