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fix up old tractors and make money?

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Nebraska Kirk

01-05-2006 16:23:29

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I currently know where there are almost 20 old unused/abandoned/restorable tractors, all IHC except for a Fordson F. I was thinking, these tractors are doing no one any good sitting in the weeds and rusting away, why not buy them, fix them up enough so that they run good, and sell them. Thereby saving these tractors from rusting away, or worse yet, being cut up for scrap, and make a few bucks in the process. What are your thoughts on this?

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730 virgil

01-07-2006 10:18:19

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

several years ago a friend of mine did antique tractor pulling . he said this is a great hobby where else would someone buy a $15,000 pickup truck $5,000 trailer buy a $500 tractor send a couple thousand more fixing the tractor to win a $10 trophy ? soon after that he quit the tractor pulling

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cdmn

01-06-2006 18:00:07

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

Some guys around here seem to make some money by packing them up in shipping containers and sending them off to England or Scandinavia or Europe. Got to have connections first. And mutual trust.

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Jim.UT

01-06-2006 12:43:52

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

It's pretty hard to fix them up and sell them for enough to recover the cost of repairs, let alone make a profit.

Here's an idea that can work: buy the old beaters, take them apart and sell the pieces. That way lots of tractors receive new life. It's a lot easier to make money that way, too.

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Lou

01-06-2006 11:47:45

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

In order to make $$ you would need alot of new 10 acre buyers, who havent played the game long. Only took me a few years and a few thousand to learn.

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G/MAN

01-06-2006 10:32:34

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

I was reading in Farm Show about a guy that supplements his farm income by "restoring" tractors. Said it takes him about two weeks per tractor and he charges around $2000. I find it hard to believe that's much of a "restoration".

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Johnski

01-06-2006 09:23:22

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

I know how you can end up with a million dollars by just fixing up old tractors. Just start out with two million. ;>) Jf

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Mark - IN.

01-06-2006 19:54:37

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Re: fix up old tractors and make money? in reply to Johnski, 01-06-2006 09:23:22

I think that you forgot about about inflation, and of course reporting it to the taxman, which if I've calculated it correctly... DOH!!!

Your point was pretty much right.

Mark

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Jrry

01-06-2006 08:08:07

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

location, location, location
oops, that applies to real estate

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buickanddeere

01-06-2006 07:13:17

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

Only if you are dishonest and sell just a fresh coat of paint as a "total rebuild".

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jc71gs

01-06-2006 12:28:45

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Re: fix up old tractors and make money? in reply to buickanddeere, 01-06-2006 07:13:17

Hey Buick! What's your Buick? I have a 71 GS 455 that I am restoring. I also have a 70 Skylark 350 I bought for parts but I will probably restore that too. My tractor is a Case 530 loader/backhoe.

"Go Fast With Class"

joel

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buickanddeere

01-06-2006 16:19:06

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Re: fix up old tractors and make money? in reply to jc71gs, 01-06-2006 12:28:45

87 National that still runs high 12's. 290,000 miles on the original bottom end. She's been in storage for three years but is road legal and looks decent. Ordered it over the phone from the dealer on Jan 2nd and she was delivered the 3rd week of August. If I had not went 10X over budget fixing up this hobby farm the National would have been restored by now.

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John (MO)

01-06-2006 06:51:10

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

As almost everyone else has said, you won't make money fixing them up and selling them! You should be able to make some pretty good money by parting them out, if you can get them bought right. Pick a good one and fix it up with the money you make from the others. That way you'll see for yourself how much you would have invested if you had to buy the parts you need from someone else.

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Buzzman72

01-06-2006 05:51:12

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Make Up Yer Mind in reply to Nebraska Kirk, 01-05-2006 16:23:29

So...which do ya wanna do...fix 'em up, or make some money? I just can't see you doing both, considering what parts cost nowadays.

Oh, I guess you MIGHT make some money...if your labor is worth 37 cents an hour or less, and you don't have to sublet ANYTHING out, like resurfacing a flywheel or pressing a gear or something.

Just MY opinion...YOUR mileage may vary...void where prohibited.

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Dean Barker

01-05-2006 22:08:02

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

I've got over $13,000 in an Oliver 1655 Diesel that is worth maybe $8000. I'll have to use it up.

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Steven@AZ

01-05-2006 18:25:13

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

I have a little over $4000 in an H that's probably worth $2500 tops right now. It needs all 4 new tires, a clutch, tin work, and a paint job to be finished - which will be at least another $1500 to do it right. My only hope is that it goes for 50 years like it did from the factory for me to come out money wise...

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bruce werner

01-08-2006 18:56:15

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Re: fix up old tractors and make money? in reply to Steven@AZ, 01-05-2006 18:25:13

It's hard to throw cold water on a guys enthusiasm, but there are some old sages here on this subject who have "been there,done that". I had a running JD 630 give to me for free. By the time I fixed all the oil leaks, fixed the dents in sheet metal, new tires, new brakes, new rear wheels, exhaust stack, seat, and paint supplies to paint it, I had 2000.00 in materials, (bear in mind there was no engine, gear, or heavy parts to replace) plus a ton of hours cleaning and spiffing before it ever looked like a working tractor again. I got to admit, I love the darned old machine, and it is a powerful work horse, but if I sold it I would take a beating especially if I had to factor in what it would have cost outright when gifted to me.

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msb

01-05-2006 18:10:19

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

Probably your best shot at making any money would be to part them out or get them bought right and sell them as is.I just bought a very nice 68 3020 Diesel that was only partly torn down and I knew the owner AND the tractor before he died.Thought it was only going to need sleeves and pistons.I'll be pulling the crank out of it in the morning.
Life and old tractors are just like a box of chok---lits,Ya never know what u're gonna git!.Forrest Grump.

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nebobcat

01-05-2006 17:23:32

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

few months into my first (58 d-17 ain't done much) cost is now about twice what a got the tractor for

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Glen in TX

01-05-2006 17:18:13

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

It will be fun and keep you busy and out of trouble. But make money ??? $$$ LOL ROFLMAO Very lucky if you broke even or made anything off them. lol.

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tlak

01-05-2006 17:15:12

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

You'll probably run into the guy like a hundred before. He'll say "I'm going to fix those up one of these days".

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Sloroll

01-05-2006 16:56:10

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

You have stumbled on a great stash of parts. As parts you will probably realize an actual profit but not with out some labor. If you buy them right, they are not stuck and are desirable models the only way to make money on them after hauling them is to not touch them and broker them as they sit. Actually, you might work a comission with the owner so you both make money with out cash out lay of your own, just foot work. I love the old Farmalls and have enjoyed the heck out of them. If memories and good times are gold I am rich. If I actually did the math on my hobby... I'd rather not know for sure.

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jack-Iowa

01-05-2006 16:50:50

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

seems there sitting in a fence row for a reason
Most of what I buy costs way more than they will give me when I sell.

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Jonfarmer

01-05-2006 16:49:01

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

If your real lucky, you'll break even, but in most cases you'll end up with a tractor thats worth $1,500, but you have $2,300 (for example) invested in it to make it worth the $1,500, thats how it usually works. I've found them old tractors still have some work left in them too. I'd suggest buying one of them and trying the hobby, as thats what it is, but don't expect to make money on it. After you fix it up, take it to a local show, join a tractor club and make some new friends.

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nebobcat

01-05-2006 16:34:50

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

what old ment to say was the game is rigged but ya can't win if ya don't play

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Allan in NE

01-05-2006 16:32:15

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

Kirk,

You'd have to buy 'em fer two bits apiece. It takes a truckload of money to fix these things up like they should be.

Allan

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Nebraska Kirk

01-05-2006 16:36:05

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Re: fix up old tractors and make money? in reply to Allan in NE, 01-05-2006 16:32:15

Oh, I know that, Allan. I am not saying I would restore them to factory original condition, just what would be needed to get them in good running condition.

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Allan in NE

01-05-2006 16:49:35

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:36:05

Kirk,

There's a fella over in Alliance doing just that. He goes down to the sandhills and picks up those old hayin' tractors that are still running, but are really cosmetically unfit.

Drops a paint job on 'em and sells 'em for $2500 a pop. I was always kind of afraid of 'em tho, 'cause ya just don't know what is really under all that pretty paint.

I rather deal with the ugly part last. :>)

Allan

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Keith-OR

01-05-2006 18:21:49

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Re: fix up old tractors and make money? in reply to Allan in NE, 01-05-2006 16:49:35

Allan, dealing with the ugly part last, kinda sounds like my younger years and some Women...lol

Keith

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kyhayman

01-05-2006 19:42:01

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Re: fix up old tractors and make money? in reply to Keith-OR, 01-05-2006 18:21:49

I made a lot of money over the years doing just that, and lost a little. What I found was 1. get something people want and brings a premium, 2. make it look good (paint is cheap), 3. never spend more than its worth for parts, 4. part out when reaching 80% of sale price, 5. dont fix stuff that isnt broke, just b/c Id do something to one I was keeping doesnt mean you have to do it.

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Too far Gone

01-05-2006 16:30:29

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

Your gonna probably have guys on both sides of the fence on this one.My view is if you cant get your money back,plus some labor,then You'd just as well keep'em.They're not making new ones.

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old

01-05-2006 16:27:42

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Re: fix up old tractors and make money? in reply to Nebraska Kirk, 01-05-2006 16:23:29

With things like that you can have a win/ win or a win/loose or a loose/loose thing. It would all depend on how much you had to do to them how much you where going to do to fix them and how many hours you have that will say be free hours.

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KRUSS

01-06-2006 07:53:02

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Re: fix up old tractors and make money? in reply to old, 01-05-2006 16:27:42

You,d have to be pretty lucky not to lose money. If you did make a profit I wouldn't admit it around here. It's like the sheep farmer says, "there's certain things you don't have to admit to."

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