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TRACTOR ECONOMICS 101

E

EdinKS

Member
I would like to hear from some of you how much you spend on your old collector tractors. I got my Oliver 88 diesel earlier this year and am finding out I have quite a list of things I'd like to do to it, but am limited on funds to do them. I'm not doing a total restoration, but just cleaning her up, shining her up, polishing her up, trying to stop leaks, changing all fluids, and replacing some required parts.

Between the required parts, and many desired parts, oils, filters, fluids, grease, solvents, pads, rags, towels, touchup paints, sandpapers, compounds and polishes, tools and equipment, and manuals, I believe I could spend several hundred dollars a month, maybe more! Easily four or five grand this first year, if I wanted to do that much refreshing the old '88.

How do you guys with 5, 10, 30, or even 100 tractors do it???
Seriously, are most of you independently wealthy? I know that for some of you this is a business expense as you have working farms and use the old tractors for some or maybe all of your work, but it astounds me to think of how much love, energy, time, and treasure it takes to keep these things going.
[b:4395e97c3e]MY HAT IS OFF TO YOU GUYS!!

Please give me some input on how you do it. Ed[/b:4395e97c3e]
 
It is a very expensive Passion. I have been doing it all my life and by no means am I independently wealthy. Little bit here and little bit there and before you know it you have Thousands of dollars in
it. Not to mention tools and time.
 
I have thousands in most of mine. Luckily most have been
fence row finds and had several combined to make one and
the rest parted so the actual cost is not much. But my worst is
my 400 that I quit counting at $7,000 and will never be worth
over $2500. It is heavily used on the farm and so is worth the
cost.
 
I think that we see some extremes here. Some own old tractor with the intent of working them as well as take them to a show.
When I belonged to a club a number of years ago I would say the average was two per individual. Aggregate value of 5,000-7,000
dollars with a plow thrown in. I run a farm and my tractors have to contribute to the farm. I would like a few fun tractors such
as a JD 630 but I have to be very disciplined in terms of money invested and any acquisitions would have to pull duty from time to
time such as grain drill, spraying, or running grain auger. It would be nice to have a dozen or more collector tractors but for
most that is nothing more than a dream.
 
Depends on the shape the tractor was in when you bought it, how you plan to use it (as a working tractor, show tractor, or just parked as eye candy), and how picky you are about trying to make it like new. So anywhere from a few hundred dollars to several times what it will ever be worth.
 
From those that have one tractor in their garage in the city, to those like Jon F and SV that are dependent on them, the range of answers
will be dramatic. I ask you to consider horses, mules, and oxen as an alternative. They cost (in their day) as much as a tractor. They
had a 8, maybe 10, year productive span in the field doing .2 or less the work of a 30hp tractor. There was no restore!!, just vet bills,
the farrier, and medicine. They could not be shut off in the shed. They needed almost 1/2 of the farm to make fuel for them, and had to
be fed by hand every day. I'll fix my tractors. Jim
 
I own 5 tractors as of now, never know when the next one will show
up! We dont have a working farm, but Im on a few aces and use
them around the place for whatever needs to be done. I keep them
all going by doing all maintenance and repairs myself. It helps that
they only see light to moderate use. Sometimes a repair has to wait
since Im not independently wealthy! As money allows I order whats
needed and do the work. I dont own trailer queens just old tractors
that are in good working order. I think alot of it depends on what you
want. If you want a show tractor thats a whole different price range
than a one that is in good usable condition nothing fancy.
 
It's a hobby for me, some get more money
than their worth, but cost per hour isn't
bad. Some go to movies, spend $40-50 for 2
hours of fun. Others hit the bar and spend
$15-20 a day, or $140 a week. Some smoke
($11 a pack around me). Some trade their
cars in for new and spend thousands extra
every other year, some go on lavish
vacations. It's all their choice, mine
happens to be old iron. I work on them as
I have time and don't worry about the
money.
 
I don't buy unless its a bargain,if it needs much $$$$ put into to it, it gets sold or parted.I buy them to use not to look at or show off so if they have a dented hood,no hood etc if I can get them up and running pretty cheap its a keeper.surprisingly I have some really good looking tractors and some not so great.I'm constantly looking for bargains have 5 here I bought in the last 6 months that need some work but won't be too bad to get up and running.If I can't sell for more than I'm paying for it I don't buy.
 
Yes, my cpa writes off my tractors as a business expense.
My 1950 Farmall C and 1953 Jubilee were my starter tractors. I only buy what I can
use. They were working girls until I bought a new 2019 L3560 Kubota. Jubilee is semi
retired. MY son likes it. I'll never sell it. Hope someday after I'm gone my boy will
return home and live in the only house he grew up in. With the things are, it may be
possible for him to work from home. SIL refuses to return to the office. All done
remotely via internet.
Also have a 2000 and 2004 Terramites. Also working girls.
Don't see a need to collect anything, tractors, cars, trucks.
I don't have a need for a show girl to be in a parade.
The only thing I like to collect is money.
I never had to ask anyone if I can buy a tractor, I only ask myself. I won't buy anything I don't have a place to store it in. That's why I build a second pole barn to store the Kubota in.
 
Well, there are alot of different
levels to this. Not just number of
tractors that they have. But what
level of condition does fix up mean,
varies widely from one person to the
next. For some, that means runs and
drives. For some, that means a perfect
flawless restoration that makes the
tractor better than it was when it
rolled off the assembly line.
Me personally have restored two. But I
used them, and the restore is close to
30 years ago, and both tractors could
use a restore again. I don't shoot for
show room quality anymore. I don't
want a tractor that I'm afraid to
scratch the paint on, and take to a
show in an inclosed trailer. Thats for
somebody else. I like em complete,
functional, and if someone wants to
see it operate, I'd rather do that,
then have it at a show where it has
ropes around it with s sign that says
do not touch, for people to just walk
around it to enjoy just viewing it. To
each thier own. You gonna find a
different response from anyone that
answers this question.
 
I have said this time and time again and this is a good time to repeat it.....As long as you don't owe me any money, I don't care what you spend your money on.
 
I have 4 tractors.
2004 Kubota with loader.
1952 Ford 8N.
1951 Case VAC.
1941 JD H.
They all get used and I buy only what they need to keep them going.
They ain't pretty, but they earn their keep on the place.
Heck, my 1917 Model T truck gets used and I only have $5000 in it.
 
I have 6 tractors that I tinker with. 1940, 43, 44 Farmall H's, 1950 JD A, 1950 Case VAI, and a 1951 Farmall Cub. The Cub was purchased in 96 for a mowing tractor for our 7 acres. The JD A was purchased as a project in 2011 and took almost 8 years to get running. The 40, 43 H's and VAI were my dads. The 44 H purchased in 18 was originally going to be a parts tractor but I decided to fix it. It took about 2 years to get running. The cub still gets used mowing but mainly road side and pond banks with the sickle mower. It needs an engine rebuild, it is a tired tractor. The 43 H has a 3 point and I mow with a 5' rotary cutter. The 44 H mows with a 5" pull type rotary cutter. The VAI, JD A, and 40 H are taken to local shows and driven to town once in a while. I have more money in all of them than they are worth. As to the cost, I kept track of what I spent on the JD A while rebuilding it and will never track one again. It makes you wonder if your sane. These tractors are my hobby and I will keep them running.
mvphoto82758.jpg


mvphoto82759.jpg
 
I own one 1951 8N. Came with the property. I have redone the molested 12V conversion properly, replaced front and rear axle seals, front king-pin bushings, installed real transmission/hydraulic instead of the watery mess that was in it, replaced the PTO shaft with the bigger one, replaced the distributor and wires, changed oil a couple of times, etc.
I have to manually change implements - auger, Bush Hog (tm), and box blade. The tractor does what I need it to do on my 40 acre horse farm. Not having a live PTO or hydraulics is sometimes a drawback, but one develops procedures and methods to work around that, so no real issue for me.
Way more into it than what it is worth, on the market, but what ever I have spent on it, I now have a dependable tractor.
I can afford little bills to repair this, over a period of time, but don't have the need for anything larger, or with all the bells and whistles. zuhnc
 
I have 9 tractors older than 45 years old and two tractors
younger that 7. Tractors that dont run much dont need oil
changes every year and other such maintenance, and can
stay at a static level of condition for long periods of time. But
keep them running, and use them some and under cover
when not in use.
 
Ed, just as others have said, you have to have a passion for them beautiful old machines. If you don't and you do need a tractor then buy a new JD or Kubota that fits your needs. I don't know where or when I got bit, but have 4 right now and am in the hunt for a specific tractor that is needed here on the farm. Unfortunately it's a little out of my price range at this point, but so as long as I keep saving my nickels and pennies and don't do anything rash like buy something I want instead of what I need I should be okay.

Just keep chipping away at whatever pace your energy and finances can muster. My Ferguson is a good example bought non-running should be and easy fix, yeah right, just kept picking away at it until one day, a year and a half later, it sparked to life and has decided it wanted a second chance at life. There's something magical about getting something that hasn't run in ten or twenty years up an running.

You're not spending money on a tractor you're spending money on entertainment. Good luck on your project.
JD
 
I suppose I have about the same invested in 2 pole barns full of tools as I have
invested in 5 tractors.
Can't see mowing with ZTR's. I use tractors.
 
I have 10 tractors, 3 of them restored. I consider my tractor collecting a hobby, and hobbies don't have to
make money or be profitable. I spend what I can afford to spend on a hobby. I don't shoot skeet and such as
it is expensive, so is golf,drinking at the bar, playing the lottery, chasing women etc. My tractor hobby has
something to show for what I spend.
 
I have about 10 here we use on the farm. None are restored but I have painted and touched up some of them. Mine earn their keep but I
could get by with a few less. Yes I do spend lots of money on parts and with 10 there is always one or two that need something done to
them. Dad always said you have two choices Parts or Payments. I enjoy shop work so on my farm we went the parts route. I have some
friends that went the payments route and they were able to milk more cows and farm more acres. Looking at it today they might have done
better than me with their larger operations but I have enjoyed what I have done so no real regrets. Well maybe if I had owned a nice cab
tractor when I started farming my lungs might be in better shape but even now I enjoy a nice 4020 fender tractor over my 4230 with a cab.
Tom
 
My fathers practice was to never put more into a tractor than you can get out of it. Looking at it from that
perspective heres mine: MM R, invested 3500, could probably get that back. MM Z invested 2100ish could
possibly make a little if the right buyer came by (lot of sweat equity in that one), MM U puller bout 4000
invested, would need the right buyer also. MM UB, 2500 invested in engine alone at this point, electric and paint
are the next two items of business, would like to wind up somewhere around 5000 which I could probably get
back, but it wont matter because my Granddaddy farmed with this one and it will never sell as long as Im still
on this side of the grass.
 
I'm just a poor boy.I have probably 15
tractors.I just spend a bit here and to
keep them running
The earn my liveong,but looks don't
really matter.
 
The latest tractor I worked on, bought for $900, have $3000 in
parts and tires into it, and now it would bring $1500.

It a hobby for me. I dont fish, hunt, chase wild women, or
travel much. I do enjoy a good blended rye on occasion.
 
(quoted from post at 03:11:20 10/07/21) I suppose I have about the same invested in 2 pole barns full of tools as I have
invested in 5 tractors.
Can't see mowing with ZTR's. I use tractors.
Click to expand...

That's because you don't have a ZTM if you did you would never mow your yard with a tractor again.

80% of my plantation you can not mow with a tractor if I could the ZTM would whoop the tractors and do a nicer job...
 
I redid a AC d-14. Kept track of every dime I put into it. Total scared me so bad I decided to never do that again. That is, to keep track of the money invested
 
Who said I spent half my money on women and whiskey, The other half I spend on yesterday's tractors ?
 
Well, here's a secret... you'd be surprised, but it costs a lot less to keep an older one running than a new one. I don't spend a lot on paint or polish, but do on oil and grease. I also spend very little
time worrying about whether a repair is worth 75% of the tractor, or not. I DO look at what will it cost to put back together (if broken)? What will a replacement cost? Can a replacement accomplish more? If
so, at what price? After answering those questions, I 19 times out of 20, I end up fixing the current tractor.

Indeed, I have several pets, but all except one got used on the farm this year.
 
Great topic Ed! The responses are fantastic, this
could be a book! I love my one and only 8N, not running right now but fixing that before winter, I only have time for my one tractor at the moment.
 
I had twenty or so and a lot of different equipment just because I was collecting. Now that I have a pacemaker and some other
issues I have sold some off if I thought they would get used. Down to about 13 now. The many that run help make hay and raise
wheat. The backhoe was used today to bury a bloated heifer and dig a shallow well. Some pay for themselves and some don't. I
justify having them because they pull my rear end out of the recliner. I need to be active or I freeze up. On the other hand my plan
is to make it easier for the wife to dispose of them when I am gone. For me paint does not make them work any better. And I have
painted a few.
cvphoto103585.jpg
 
im just a poor poor farmer and tired of eating rabbit stew. have about 50 old tractors up to the sixty's.my farming of one quarter is done
with them also. no cabs, no p.s. favorite one is the 660 ih. i can fix and keep them all running. newest is 1965 806. yes its a big job
keeping them running but been at it for close to fifty years.
cvphoto103588.jpg


cvphoto103592.jpg


cvphoto103593.jpg




cvphoto103595.jpg


cvphoto103597.jpg
 
Currently I have a problem of spending more money on buying good project tractors than actually spending money on them. By the time I have the extra cash to fix one up
another bargain comes along. I do at least intend to get all the ones I have running. I do not like the idea of parts tractors. While pretty and fully restored
would be ideal, I am practical and cheap and will settle for rough but running. At least until I am retired and independently wealthy.
 
We buy pitiful old tractors that haven't
run in a while. Work on them to get them
running good. Change fluids,tune up,
always a new battery, alternator and
wiring. Keep records and sell enough of
them ,for a profit to buy more. Never
spend more than $200 to get one going.
The ones we clean,paint, decal and
keep......yeah.....we don't look at the
bottom line on those!! Lol. We have
had 56 different tractors in 5 years.
Never owned one before then.
 
Yup, like any other hobbies and past times, don't expect them to be worth much if anything when you are done and don't spend more than you can afford to loose.
 
For a cool $37k you can have a cab and AC.
Still have problems with trees
cvphoto103634.jpg

. Have to clean radiator before you mow.

You couldn't talk the
cvphoto103635.jpg

BOSS into getting rid of her American
Iron.
All you have to do is remove low hanging
branches.
We cut about 95% with tractors and trim 5%
or less with 48 inch riding mowers.

NOTHING rides better than the
Farmall..Nothing.
 
Owning a tractor is a loser. Some are bigger losers than others. I have a dozen of them and none of them has directly made me money, even the big dogs that have done my field work. The last tractor I bought, a little SC case has been about the cheapest among the old tractors I have bought. I have $700 in it including purchase price and sprucing it up so it is dependable. Among the other purchased ones I have $4000 in an Oliver 88 that needed an engine overhaul with welded head. I also painted it and used clear coat, something I don't plan on doing again anytime soon. A rusty old F20 sitting in my shed sucked $2500 out of my back pocket but it sure does run nice! I have $1700 including purchase price in another SC Case that had a cracked head. And on and on it goes.

All of that money I spent on rusty iron would have made me more money in a CD making less than one percent interest but there is no fun in that is there?
 
EdinKS. Just remember that everything you buy is not for a one time use. You may buy a touch up paint. ( example only) and use it for 5 times over a 6 year time
period. Or a set of tools that you use for 30 years. You get my drift right. ? Wingnut
 
This is from personal experience;If you
know the market you can flip a tractor and
make some money.I farm part time with older
tractors and equipment and make money doing
it to the point of being able to buy some
new equipment and good condition used
equipment.I am a mechanic by trade and do
my own repairs and that saves a lot of
money.
Paul
 
I buy tractor to fix up and resell so I can buy some that I keep. The one I keep for me are the ones that are the roughest from the start, so i am obliged to go trough them, or the ones that I modify, so would be hard to sell, like the Deere 4320 and 5620 PS.


I a selling some of mine to get another model I prefer. I do not have the time to use too many tractors, and I do not keep a tractor that I do not use.

My last buy is a Deere 4050 mfwd. I am selling the first 4020 I bought to get it. Some would never have sold their first 4020, but I had to buy that 4050, and I think I am upgrading and my 6 years old kids prefer cab tractors.
 
Thanks to everyone who viewed and commented on my original post. We all saw some great pictures, great tractors, and read a lot of wise words in the stories. I learned some things and saw that many of you value, as I do, taking care of the old iron without much concern for final value of the machine, but with great concern to preserve, use them, and pass them on running better and looking better than when we got them! My hat is still off to you all! Ed
 
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