I wasn't sure about this product. I wanted to organize all my screw and bolt drills. It held the quote a lot. It's not magnetic, but the slots are tapered so they snap against friction when pushed. The plastic is soft so they fit snugly and don't fall out even when turned upside down (just making sure I'm squeezing them hard enough). It doesn't have a lid, but you can't have one as you can have very large pieces as well as very short ones. So I just leave it on my workbench and take a tray of bits with me when I go to work. It holds quite a bit so I have pretty much every type of bit I could possibly need (72 bit holes that stand upright) plus a few clips for horizontal storage. That's enough to solve 99% of my home renovation projects. I grab a cordless drill and this set of bits and I'm ready for any project. I am happy. I also have a smaller magnetic holder, but it's too small and I almost feel like this organizer holds the bits more securely.
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