Bought a $200 magnetic drill press that turned into a parking lot anchor

I saw a deal on a magnetic drill press for $200 at a flea market in Gary. Thought I was set for a big beam job last month. Got it to the site and the magnet wouldn't hold on a vertical beam, just slid right off. Saved me from a bigger headache but burned me on the cash and a rental fee that same day. Has anyone else had luck with a cheap magnetic drill or am I the only one who got fooled?

3 comments

3 Comments

fiona_sullivan292mo ago

Not to get too technical, but those cheap mag drills often use a different kind of magnet than the good ones. The expensive ones use neodymium magnets that hold way stronger, but the cheap ones use something called alnico or just a basic ferrite. I've heard of guys buying a cheap one and swapping the magnet out for a neodymium block if they're handy and it fits. Takes some work and you might void any warranty, but it's a possible fix if you're stuck with it. Your mileage may vary on how well that actually works though.

richardknight10h ago

Fiona's right about the magnet difference, I've read the same thing. Sucks you got burned but like you said, at least it found out before you were drilling. Did you try to get your money back from the flea market guy or was he long gone?

walker.jana2mo ago

Yeah I used to think "a deal is a deal" when it came to cheap tools but after watching a buddy's budget mag drill drop his whole setup 12 feet onto concrete I changed my tune real fast. The magnet on those cheap ones is usually just a weak ferrite core that can't hold torque on anything vertical or overhead. You probably dodged a worse accident honestly, that rental fee is cheap compared to a hospital visit or a ruined beam.