Magnets are now used in a variety of applications, including data storage, audio generation, sensing devices, and electric energy generators. Neodymium magnets (NdFeB) are the most commonly used permanent magnets due to their hardness and magnetic field strength. Simulations are useful in the design of magnet-based devices because they reduce costs and speed up time to market. However, in order to implement a full-wave electromagnetic simulation, the magnet's properties must be known. When the magnet data-sheet is unavailable, the designer must characterize the magnet experimentally. The traditional characterization approach necessitates costly experimental setups and complex procedures. This paper proposes a low-cost, low-complexity method for characterizing neodymium magnets. The proposed method is based on a dedicated electronic system comprised of a Hall effect sensor, a microcontroller, and the Chinese standard for neodymium magnets. We evaluate the proposed method through a case study based on NdFeB magnet (i.e., arrays of one, two, and five magnets) with a disk shape and N35 grade. The information on the data-sheet, the simulated results, and the experimental results were all consistent. Furthermore, the involved error is reduced by using a magnets array to mitigate the effects of the Hall effect sensor's low resolution. Using an array of five magnests instead of just one, the error between experimental and theoretical results was reduced from 20.4% to 1.3% in the study case.