Abstract: An adjustable drop light apparatus includes a lamp assembly connected to and supported by a handle assembly. A protective housing assembly is supported by the handle assembly and protects the light bulb of the lamp assembly. An orientation adjustment assembly is attached to the protective housing assembly, and a suspension assembly is adjustably connected to the orientation adjustment assembly. The suspension assembly includes a magnet retainer which retains a magnet. The suspension assembly also includes a hook assembly connected to the magnet. The magnet includes a retention well. The hook assembly includes a pivot bracket connected to the magnet within the retention well, and the hook assembly includes a selectably pivotable hook which is pivotally connected to the pivot bracket. The retention well has a well depth; the selectably pivotable hook has a hook thickness; and the well depth is greater than the hook thickness enabling the pivotable hook to be stored within the retention well.