Unless he's desperate for cash, or just plain falls head over heels in love with you, he's not likely to come down to $1400. In this day and age his idea of a "best offer" that he'd consider taking is $2850.
You never know though, you might be lucky.
If the tractor truly has a 3pt hitch on it, which is possible, but not likely from the looks of the picture, a fair price could be in the $2300-$2500 range. Selling off the blade, mower, and 3pt would leave you with about a $1500 tractor, which is about going price for a tractor with no major problems.
Last fall I picked up a bare Cub for $1000, but it had some pretty nasty leaks, rear main, transmission seals... It's a good $1500 tractor now, but I'd lose $$$ on the deal on what I put in.
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Today's Featured Article - Madison's County - by Anthony West. Philip Madison has been a good friend of mine for quite some time. He has patiently suffered my incessant chit chat on the subject of tractors for longer than I care to remember, and on many occasions he has put himself out, dropped what ever it was he was doing, to come and lend a hand cranking handles, or loading a find onto a trailer. Although he himself has never actually owned or restored a tractor, he was always enthusiastic and always around helping with other peoples projects.
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