Well, I hope someone looking at this knows someone who works at florida pneumatic....
While the tool may save you money... it will also cost you money. The difference is still less than the alternative but be warned, it's pricy to repair.
First off, universal tool advertises this as a 1/8 and 3mm die grinder. In it's as shipped form it is not. The difference between 3mm and 1/8" is about .007". For a normal collet, completely interchangable. For this collet... not so much.
It's kind of crappy actually... they ship it with the 1/8" collet but not the 3mm collet. I'm sure for $450 dotco ships both... but that's an arguement for another discussion. They really should include both or at least warn you that they're not interchangable.... Big bold letters in the operators manual telling you that if you have 3mm tooling, you need to call them and order the other collet because, unlike every other die grinder in the world, they're different.
I called florida pneumatic this morning. The lady on the phone was nice enough and knew just what I was talking about and looked it up straight away. She said, I have that part in stock and can ship today, it retails for $14.30. I thought the price was maybe a little bit high, if you ask me, for a small metric countersunk head screw with a hole down the middle and a slice down one side but still doable. Then she asked me for my account number and I told her I didn't have an account number... she told me I would have to call a distributor to order the part and gave me the number for MSC.
Well...... MSC didn't have the 3mm part listed in their system at all. Luckily I got the one lady on the phone who is proactive and she went ahead and called florida pneumatic to get the part number. She came back on the phone and gave me the new MSC number and told me their price on the part... $26.70. I told her I would call her back.
Now $15 for a metric screw (basically what it is) is a little high but doable. I understand they have to pay some 10 year old asian kid $.18 an hour to make those things, fly them halfway across the globe, and still make enough money to feed the folks in florida... and I understand distributors have a 40% - 50% markup on things they sell so they can afford to eat too, but almost $30 for a metric screw?!?!? I mean I wanted a screw but not that way.
I just can't see paying $27 plus shipping for something I can make myself.... hey, wait a minute.... so that started the wheels turning.
What if I could take a metric countersunk head screw, drill the center the correct size, grind it to 6mm wide at the top (so the wrench still works), and then put a slice down one side?
If this were a business, it would not prove efficient for me to take the time to work all this out but this isn't a business... it's just little old me at house working on junk. I think I can make a new collet by hand and I think I'm going to do just that.