So you just finished soldering some wires together and you need to set down your superheated 850 degree Fahrenheit soldering iron. What do you do? You don't lay it on the table because that's how you start a fire, you can't put it in a simple metal holder because its melting point might be too low! So you get a soldering stand! Often equipped with brass wool to clean your soldering iron, you never have to worry about accidential fires or burning yourself because of improper storage!