Evan writes: “Sears lists this simply as ‘magnetizer, magnet, and demagnetizer.’ I love it for things like hex keys which are not normally magnetic. With this you don’t have to have a magnet attached to the tool.”
For those not familiar, the idea behind this is that you can pass your tool through the magnets to magnetize a ferrous tool when needed, then demagnetize it for use with electronics and other such delicate work.
Personally, I like Wiha’s model better. (Picture after the jump.)
But it’s a matter of taste. The Craftsman model costs $4 while the Wiha runs closer to $8. I like the Wiha’s plastic case, though, and the fact that you can magnetize and demagnetize without turning it over.