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Context: Transit or eclipse timing variations have proven to be a valuabletool in exoplanet research. However, no simple way to estimate the potentialprecision of such timing measures has been presented yet, nor are guidelinesavailable regarding the relation between timing errors and sampling rate.  Aims: A `timing error estimator' (TEE) equation is presented that requiresonly basic transit parameters as input. With the TEE, it is straightforward toestimate timing precisions both for actual data as well as for futureinstruments, such as the TESS and PLATO space missions.  Methods: A derivation of the timing error based on a trapezoidal transitshape is given. We also verify the TEE on realistically modeled transits usingMonte Carlo simulations and determine its validity range, exploring inparticular the interplay between ingress/egress times and sampling rates.  Results: The simulations show that the TEE gives timing errors very close tothe correct value, as long as the temporal sampling is faster than transitingress/egress durations and transits with very low S/N are avoided.  Conclusions: The TEE is a useful tool to estimate eclipse or transit timingerrors in actual and future data-sets. In combination with an equation toestimate period errors (Deeg 2015), predictions for the ephemeris precision oflong-coverage observations are possible as well. The tests for the TEE'svalidity-range led also to implications for instrumental design: Temporalsampling has to be faster than transit in- or egress durations, or a loss intiming-precision will occur. An application to the TESS mission shows thattransits close to its detection limit will have timing uncertainties thatexceed 1 hour within a few months after their acquisition. Prompt follow-upobservations will be needed to avoid a `loosing' of their ephemeris.

TEE, a simple estimator for the precision of eclipse and transit minimum times