You get a lot for the money in this one. The magnet is very strong. I picked up a large scissors and a large screwdriver with it while testing it. I also like the built in light as it is going to be used in dark places in future tasks such as behind appliances or under cabinets. The first time I use it will more than pay for the tool. This will work very well under the hood of the family car.
I know that you may have seen a lot of magnetic pick-up tools before, but this one uses a non-standard, powerful, rare earth magnet allowing it to pick up 8 pounds of weight. In addition the super bright LED light illuminates low light situations. It is not bulky at all either condensing down to about the size of a pen.