Theoretical models and experimental results are presented for the retarded fall of a strong magnet inside a vertical conductive non-magnetic tube. Predictions and experimental results are in good agreement modelling the magnet as a simple magnetic dipole. The effect of varying the pipe wall thickness on the retarding magnetic drag is studied for pipes of different materials. Conductive pipes of thinner walls produce less dragging force and the retarded fall of the magnet is seen to consist of an initial transient accelerated regime followed by a stage of uniform motion. Alternative models of the magnet field are also presented that improve the agreement between theory and experiments. (Contains 1 table and 10 figures.)