SIX IN TEN TRADESPEOPLE ENCOUNTER SUSPECTED STOLEN TOOL SELLERS
Six in ten tradespeople say that they have been approached by or seen someone they suspected selling stolen second-hand tools, according to new research by Direct Line business insurance.
Almost one in three (29 per cent) tradespeople became aware of the suspicious seller through word of mouth, while just over a quarter encountered them on a website, social media or app selling secondhand goods. Shockingly, almost one in five (18 per cent) said the person selling the tools was a friend.
The overwhelming majority (91 per cent) immediately refused to buy the tools offered to them by the suspicious seller. Just under one quarter (24 per cent) notified a trade authority, while 23 per cent informed the police.
But a very small minority of tradespeople could be contributing to the cycle of tool theft. One in ten still bought the tools despite their suspicions and over one quarter (26 per cent) considered purchasing them but didn’t go through with it.
These findings hammer home the scale of tool theft across the country, which can have costly consequences for tradespeople, disrupting livelihoods and hitting them hard in the pocket.
The top ten regions for tradespeople encountering suspicious sellers were Bristol, Manchester, Sheffield, Nottingham and Leeds.
The study also revealed increasing concern among tradespeople about the scale and frequency of tool theft. This is influencing their purchasing decisions and heightening stress levels.
In the event their tools were lost, damaged or stolen, one-quarter of tradespeople would buy secondhand tools online as replacements. The highest number of this group (39 per cent) would do so because tool theft is so common that they would not risk buying brand new tools unless absolutely necessary.
Nearly half (46 per cent) worry frequently about the problem, and more than eight in ten (81 per cent) describe themselves as an alert when it comes to protecting their equipment against theft. Despitethis level of awareness and concern, one in ten do not have insurance cover in place.
The second-hand tool market, where equipment is available more cheaply and is generally much quicker to source, is helping to drive tool theft across the country.
Nearly a third of UK consumers (30 per cent) have bought tools second-hand, with 16 per cent doing so on multiple occasions, showing the strength of the market.
Nearly half of these buyers (44 per cent) have acquired tools from a car boot sale, 34 per cent have got them from a friend and almost a third (30 per cent) have bought them through an official website selling second-hand goods.
A major problem is that many consumers aren’t able to spot the signs of a suspicious seller. Only 30per cent believe they could identify stolen tools on the market.
There is also a general lack of awareness and concern. More than three in ten (35 per cent) were not worried about the prospect of buying stolen tools. This reinforcesthe need for more education and the importance of tradespeople ensuring their equipment is properly protected.
Jonny McHugh, SME Business Manager at Direct Line, stated: “Our research demonstrates how the scale and frequency of tool theft is partly fuelled by the demand for cheap second-hand tools which are quick to the source. Tool theft is hugely disruptive and often has a devastating impact on tradespeople’s ability to work and livelihoods.
“Tradespeople can help to protect themselves by ensuring they lock tools away securely and take precautions when parking their vehicles. It is also important that they invest in comprehensive insurance cover to help ensure that they are not hit hard in the pocket if their equipment is stolen.”