The Jigmaster 500 is Penn's do-everything boat reel: a mid-size star-drag conventional reel for bottom fishing, light jigging and inshore work, introduced in 1959 and still made today.
Most tired Jigmasters need a clean, fresh grease and new drag washers rather than gears.
Price range is INFERRED from completed eBay listings; verify against current sold comps before bidding.
Supply is deep: 44 Jigmasters are listed, 2 for parts, with most working reels at $30–60 delivered. This is a do-everything boat reel and Penn parts are still easy to get, so even plain user reels are worth buying. Price here tracks proof and paperwork: bare listings start at $28, tested reels, red-knob or boxed red-plate, run $76–88, and a boxed NOS 500SM is about $90. The red flag is a handle-less 500S priced at $81. For a first conventional reel, take the $34 smooth black reel; collectors should take the NOS box.
Delivered prices include shipping as eBay quoted it to a US address on Oct 1, 2026. Many sellers charge by distance, so your total may differ — eBay shows your exact total before you buy.
About $28 delivered ($19.99 plus $8.27), Buy It Now, from a 99.7% seller, just under the typical band. It's a USA-made No. 500 with no condition claim at all, so assume a clean and new grease, and ask whether the spool spins freely in free-spool.
Vintage Penn Jigmaster No. 500 Conventional Fishing Reel Made in USA
A black USA-made Jigmaster described as in great used condition and smooth, about $34 delivered ($24.99 plus $9.45) on Buy It Now from a 100% seller, low in the $30–60 band. It's about $6 more than the bare cheapest reel for a condition claim; ask whether the drag holds and the clicker works.
Vintage PENN 500 Jigmaster Reel Black USA - GREAT USED CONDITION - Smooth
A black USA-made Jigmaster described as in great used condition and smooth, about $34 delivered ($24.99 plus $9.45) from a 100% seller. That's low in the band for a reel with a smoothness claim, and the Jigmaster's simple star drag is forgiving for a first conventional reel.
Vintage PENN 500 Jigmaster Reel Black USA - GREAT USED CONDITION - Smooth
A tested 500L with red plates, box and accessories, about $76 delivered with Best Offer open, from a 99.1% seller. It's above the band, but tested plus boxed means less guesswork. Ask what tested covered, especially the drag and anti-reverse under load.
Penn Jigmaster 500L Reel Red Plates Made USA w/ Box Accessories Tested
New old stock, complete in box with papers: a 500SM with the metal spool, about $90 delivered ($82 plus $8.27) from a 99.6% seller. That's under $100 for a boxed unused Jigmaster, barely more than the tested user reels here. Ask for photos of the box and paperwork.
Penn Jigmaster 500SM Fishing Reel Metal Spool NOS CIB w/ Box Papers US
Listed as needing work, about $32 delivered with Best Offer, from a 99.9% seller. That's about what a working bare reel costs, so offer low and ask what's wrong. Jigmasters are simple and parts are plentiful, which makes it a good first rebuild.
Penn No. 500 Jigmaster Conventional Fishing Reel Needs Work
Snapshot captured — listings may have ended
Delivered prices include shipping as eBay quoted it to a US address on Oct 1, 2026. Many sellers charge by distance, so your total may differ — eBay shows your exact total before you buy.
UsedVintage Penn Jigmaster No. 500 Conventional Fishing Reel Made in USA
$19.99 + $8.27 shipping
No condition claims at about $28 delivered. Assume it needs a clean and fresh grease.
tunahook21
99.7% positive from 4.3K ratings
UsedVintage PENN 500 Jigmaster Reel Black USA - GREAT USED CONDITION - Smooth
$24.99 + $9.45 shipping
Great used condition and smooth per the seller, about $34 delivered.
tokiem
100% positive from 2.1K ratings
UsedPenn Jigmaster 500L Reel Red Plates Made USA w/ Box Accessories Tested
$69.99 + $6.33 shipping
This seller takes offers, and sellers often accept less than the asking price.
Fine if you might miss it? Send an offer first. Someone else can still buy it while you wait for a reply.
Want it for sure? Use Buy It Now.
Tested 500L with red plates, box and accessories, about $76 delivered.
zvibes
99.1% positive from 823 ratings
New old stockPenn Jigmaster 500SM Fishing Reel Metal Spool NOS CIB w/ Box Papers US
$82.00 + $8.27 shipping
New old stock 500SM, complete in box with papers, about $90 delivered.
storageunityardsaleaz
99.6% positive
For partsPenn No. 500 Jigmaster Conventional Fishing Reel Needs Work
$25.00 + $7.09 shipping
This seller takes offers, and sellers often accept less than the asking price.
Fine if you might miss it? Send an offer first. Someone else can still buy it while you wait for a reply.
Want it for sure? Use Buy It Now.
Needs work, about $32 delivered. Ask exactly what's wrong before offering.
theoutdoorshack26
99.9% positive from 1.7K ratings
UsedPENN 500 JIGMASTER Red Knob USA MADE REEL Tested EUC
$79.99 + $8.27 shipping
Tested, excellent condition and the red knob, but about $88 delivered for a loose reel. Use Best Offer.
mike37012
100% positive from 4.6K ratings
For partsPenn Jigmaster 500S Conventional Reel Missing Handle Red Made in USA
$74.99 + $6.03 shipping
This seller takes offers, and sellers often accept less than the asking price.
Fine if you might miss it? Send an offer first. Someone else can still buy it while you wait for a reply.
Want it for sure? Use Buy It Now.
Missing its handle, yet about $81 delivered, more than complete tested reels in this snapshot.
zvibes
99.1% positive from 823 ratings
Prices and availability change daily. The full, current search on eBay shows every matching listing, including new ones since Oct 1, 2026.
See all current listings on eBay ⟶The Jigmaster 500 is Penn's do-everything boat reel: a mid-size star-drag conventional reel for bottom fishing, light jigging and inshore work, introduced in 1959 and still made today. Penn also built a narrow-spool 501 from 1966 to 2004 and a short-lived 500S from 1975 to 1984, and production of the 500 moved to China in 2006, so older reels are the ones vintage buyers look for.
Maroon Bakelite with a red knob is the classic look. The reel is simple inside and Penn parts are still easy to find, which makes it one of the best-value vintage saltwater reels: our latest snapshot found about 44 listings, most working reels at $30 to $60 delivered, and boxed new-old-stock reels still turn up under $100.
Many Jigmasters have been modified with aftermarket spools, frames or handles for jigging or casting, so decide whether you want an original reel or a tuned one before you bid.
