These's are a must have in every tool box. The Craftsman Magnetic Pick-Up tool is very strong and works wonders if fishing out drops nuts, bolts or small tools in engine compartment and reach's 25 inch depth. I find it works well to start bolts in place you can't reach slowly thread it and come back tight with a deep socket and extension.
I purchased this model years ago and it was great. I lost it so I purchased another. The new one looks the same, but the wand feels thinner and has looser tolerances. It flexes quite a bit under it's own weight. My last one was far more rigid. I didn't expect a rock solid item at $4-5, just decent. It might work ok, but to me tools should not feel flimsy. I just don't feel confident that the wand will stay together or fold like a piece of origami. I also purchased the cheaper red version and other than the color they are the same thing, just no package.