I saw a novel use of a speaker magnet to make a benchtop tool holder and decided to give it a try.
I had some 1/4 threaded rod lying around along with a doughnut speaker magnet, a stripped down speaker housing, nuts and a few fender washers. After looking it over I decided I needed a couple of 5/16x1 1/4 fender washers to finish the project.
I cut about nine or ten inches of threaded rod, then used washers and nuts to clamp the base to the threaded rod followed by the magnet.
The magnet is strong enough to hold a 6 inch crescent wrench, a Phillips screwdriver and a box cutter knife. I haven't weight tested it, but the idea is to have a magnet that is strong enough to hold a typical small tool without being so strong that I have to hold the stand to extract a tool from it. Of course a good trick to minimize a tip-over is to pull the tool down from the magnet before pulling it away.
I find this more of a conversation piece than something I would really use, but this could change over time so I'll let it occupy space on the bench for now. I suppose the thirty five cents it cost me to make something from raw materials makes it worth the effort.
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