Didn't Unload! What would You Have Done?

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altmodisch

Member

• Mar 17, 2013

• #1

My buddy took his 706 gas to a shop to have several things repaired and the engine rebuilt. The bill came to $3800.00. While paying the bill a guy came in with hand bills for a consignment sale that was coming up. A week later my buddy and me loaded the 706 and headed for the sale. When we got there and went to check in we talked to the auctioner about terms of sale. The auctioner took a look at the tractor, asked us what we thought was fair my buddy said he would like to get his repair money back and $500.00.
The auctioner laughed and said I sell tractors like that every week for $2500.00 or less. We throwed the chains back on and went home. What would you have done?

 

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M Nut

Well-known Member

• Mar 17, 2013

• #1

Same thing you did.

 

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G1355

Well-known Member

• Mar 17, 2013

• #1

Would of took her back home like you did, and if you just had it gone through I'd restore it if it needs it and keep it.

 

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sd pete

Well-known Member

• Mar 17, 2013

• #1

Same as you.

 

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Ray

Well-known Member

• Mar 17, 2013

• #1

The auctioneer was right for a gas.

 

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RodinNS

Well-known Member

• Mar 17, 2013

• #1

Rule number ONE with old tractors... If you're going to dump a pile of money into them in repairs, PLAN on keeping it. The only way you'll ever see your money back is to work it out of them. I wouldn't have spent the time to haul it to the auction. If I did, I'd damn sure run it up or buy it back.

Rod

 

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Adirondack case guy

Well-known Member

• Mar 17, 2013

• #1

Why did your buddy put that kind of money into it if he didn't want to keep and use it? Should have taken it to auction before he spent the money if he didn't have a use for it.
Loren, the Acg.

 

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JD Seller

Well-known Member

• Mar 17, 2013

• #1

Well the auctioneer was correct. AN IH 706 gas will rarely bring over $2500. What you have invested has little relation to the market value of an old tractor. I see many tractors sell that I know the owner has more money in them than they bring.

Your buddy's mistake was spending that on the tractor if he was not going to keep it.

Your post sounds like your mad at the auctioneer. He was just telling you the truth. He had nothing to do with what your buddy has in the tractor. Be glad he was truthful about what it would bring. HE could have just lined it up and then your buddy would have had to worry if it brought what he wanted.


Last year my BIL brought me a Ford 861. He wanted the engine completely overhaul and the hydraulics rebuilt. The bill for that was over $4000. He then put new tires all around. That was another $1500. So he has $5500 in the Ford 861. That is with old paint. It works for him as he is going to keep it to use. So he was comparing it to what a newer tractor would have cost him. He has less in this one that is in very good mechanical shape.

If he went to sell it I bet that he would be hard pressed to get $3000 for it.

 

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oldtanker

Well-known Member

• Mar 17, 2013

• #1

Saw a real nice 706 gas with 90% or better tires sell for 1700 at auction about 6 mounths ago.

Rick

 

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AG in IN

Member

• Mar 17, 2013

• #1

Auctioneer was probably right, but if he was laughing, he was being a real "richard" about it. If I got the same attitude in the same situation, I would have hauled it back home, too.

$3K would be plenty for an good running and good looking 706 gas with flat top fenders, 3pt., WFE, and good rubber here today. If it had a quality loader in good shape equipped as above, your buddy would be in the ballpark with what he was looking to get out of it.

When gas was around $2, 560-656-706-806 gassers were still bringing decent money. Hay making guys liked them. $4 gas changed many of their minds.

AG

 

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Anonymous-0

Well-known Member

• Mar 17, 2013

• #1

I just seen one sell 2 weeks ago at a cosinment sale. 706 gas wf good rubber New seat,4200 hrs. Bidding started at $2500. New owner took it home $4900 later. This was one of the highest priced 706 g that Ive seen for a long time. Sale was in NE Indiana

 

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DoubleR

Well-known Member

Location

Mid Mi

• Mar 17, 2013

• #1

I would have loaded backup too although I wouldn't have wasted my time taking it there thinking I could get my money back out of it. There is allot of us that will put more into a old tractor than we could ever sell it for. But we do so with the idea that we will keep it and will know whats in it and get our use out of it. Fixing up an old gas tractor with the idea of making money is, in most cases, a losing preposition.

 

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Mike (WA)

Well-known Member

• Mar 17, 2013

• #1

You never get your money out of a rebuild at auction, because nobody will believe you. Best chance to sell it is to have all receipts, make it look nice, and maybe you'll find someone who wants it. But I agree with the others- don't spend a bunch of money on an old gas tractor unless its for you to keep.

I do agree that the auctioneer was foolish for laughing at you, but then, they're generally not the most subtle guys around. He may have done you a favor- if he'd shined you on and lulled you into consigning it, you may have come out on the short end.

 

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bill mart

Well-known Member

• Mar 17, 2013

• #1

would have loaded it up too. You can always try selling it youself now via c/list or this site. Bill

 

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paul

Well-known Member

• Mar 17, 2013

• #1

Auctioneer probably figured you all would never see eye to eye on this, and get it over quick.

You'll have to do a private sale and wait a while for someone to come along with that kind of money for that tractor. Might take a while.

Paul

 

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retired farmer

Well-known Member

• Mar 17, 2013

• #1

If I was still farming for myself, I would rather have an old tractor than one of these new ones.

 

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Dean Olson

Well-known Member

• Mar 17, 2013

• #1

Hauled it home.

Seems the painted up junk will bring more that the rusty but obviously cared for equipment at our sales here around Houston.

Our auctioneers play a reserve game in which they will let the bidding go to it's highest and "sell" item. It's only when you go to pay that you find out that you have the choice of paying the reserve price or passing. I quit going those sales.

 

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fixerupper

Well-known Member

• Mar 17, 2013

• #1

He might be right but he could have been more diplomatic about it. He burned a bridge with his attitude. If he told you what it might bring in an appologetic way you would still have been disappointed with the projected price but you wonldn't me mad at him. Jim

 

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larryanderson

Well-known Member

• Mar 17, 2013

• #1

You could have put a reserve on it and if it did not sell take it home. Consignment sales have been good this year and if you are there and represent it plus have receipts with tractor you might be surprised.

 

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Traditional Farmer

Well-known Member

Location

Virginia

• Mar 18, 2013

• #1

No sense in wasting his and your time an auctioneer tries to avoid too many No Sales.Also I suspect he 'sized' you fellows up as folks he'd rather not deal with for some reason or the other

 

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mkirsch

Well-known Member

• Mar 18, 2013

• #1

The auctioneer has people coming in with their "golden shoe boxes" ALL... THE... TIME... They think what they've got is worth a fortune, when the real market value is disappointing.

I'm sure he's tried to be nice about it, but people just don't listen. They've got dollar signs in their eyes and the auctioneer doesn't know his butt from a hole in the ground.

He's had lots of people pi$$ed off at him because their stuff didn't bring the big money they expected, even after he warned them.

I don't blame him for laughing. One way or another you're going to be mad at him. He can't win.

Believe it or not he did you a BIG FAVOR by running you off.

 

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Mike (WA)

Well-known Member

• Mar 18, 2013

• #1

Dean, So you "buy" a tractor early in the sale, then pass up some other bargains because you only have funds for one rig, then go in to pay and he tries to jack you up for some more? I'm not the litigious type, but I believe I would make that guy's life miserable enough that he'd change his goofy "policy". There's a lot of case law on contract law- offer and acceptance, etc.

Local auction won't do reserves- and he said its too awkward to keep track of, and how do you gracefully tell someone that he didn't really buy what he just bought, in front of a crowd? He says come to the auction, and protect it yourself- bid-ins are $100, regardless of the price of the item.

 

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GeneMO

Well-known Member

Location

Pilot Grove, Mo.

• Mar 18, 2013

• #1

What would I have done? Asked for an estimate of the overhaul first, then did some checking to see what they were selling for.

Then not done the overhaul, set it out along the road with a for sale sign on it " For sale, As it" and took the best offer.

You dont put that kinda money in an old tractor unless it was your dads or grandpa's and you plan to keep it.

Your buddy put the cart before the horse. I know from experience. I have a Super H Farmall torn down in the shop that will cost way more to restore than what it is worth. But I bought it with plans of a "hobby" when I retire next month.

Gene

 

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JimEvans

Member

• Mar 18, 2013

• #1

Tires are everything. A good set of tires is $2500+. The sad part is he would have got $1500 for the tractor if it didn't run. Put $4000 of engine worth in it and it is now worth $2000.