To be honest my company spends the money to have good test equipment. Usually a brand new big piece every year and some smaller pieces to. Just got us a new primary injection set last month.
With my company, it's mainly dealing with IT issues. My company calibrates our equipment and generally takes good care of us if we need new/updated equipment. That being said, we do have some of the older sets (CTER, old Signalcrafter sets, 2253's) that we keep ready to go just in case. Biggest pain in the ass is dragging around multiple computers because we have to keep our test computers "clean" to maintain compliance when talking to BES microprocessor relays.
Feeling the pain in this thread. We are about half and half where I work, some equipment is new but we have many pieces that are outdated and have "special calibration" status.
Another problem is that stuff gets passed around so much it ends up getting abused, so you end up with broken or missing pieces. The IT department sucks where I'm at also - I've been working with an I3, integrated graphics, and 4GB of RAM for over 5 years now.
I guess its the same no matter where you work.
I work for a small testing company, they usually have no problem buying test equipment if it's needed.
I started out as a test technician in the 70s and later started a testing group for an international company. When I would have to use an outside contractor I would observe the conditional of their equipment. If they have "beat up" equipment that was missing covers and hinges I would have some caution. If they do not take care of their expensive equipment then why would they take care of my equipment. Calibration stickers can be made up the week or day before starting a job so I am not a fond believer in a calibration sticker on a meter or device.
When I started at my company, we weren't testing apparatus, just relays and com equipment. We had a very large job where the boss had budgeted the apparatus testing to a competitor. I told him I could handle it and we rented what we needed. Since then, every year we have gotten what we needed, incrementally. Breaker timer, Power Factor, a good CT tester, SF6 analyzer and finally this year a battery tester. We did a big 61850 project and we got 2 Dobles capable of that testing with the software. We knew we had the job so the boss budgeted for it.
We rented along the way and also purchased some things from the rental company at a huge discount. We set up an apparatus testing trailer that has a place for every piece of equipment and the equipment is secured in place for travel. We have our Dobles for relay testing but also now have 4 Sverker 900's as they are great for secondary injection and even primary. We are getting several IRIG converters for the Dobles next year. I recently saw a Fluke Scopemeter from the rental company on sale used for $300 and just bought it. My boss won't blink an eye.
The rental company we deal with (Protec) is fabulous. I call, get a quote in 10 minutes. Equipment is always well packed and all leads, SW, manuals and cal sheet are in the box. I keep joking with the rental guy that our business will dry up with him because he keeps selling us (barely) used equipment that we used to rent. We'll still rent a VLF, corona camera and any other oddball thing that comes up.