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Buyer's market for old tractors?

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Les...fortunate

08-15-2004 10:31:41

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Maybe it's just my imagination but it seems as if old tractors aren't bringing what they did a couple years ago. I've been to a couple auctions this year and seen some real nice machines go for way less than I thought they were worth. I have advertised 3 tractors this past week in our Weekly Market Bulletin here in NH, and have received not one call. Guess I'll just have to buy more instead of sell. ";^)

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08-16-2004 06:57:49

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Re: Buyer's market for old tractors? in reply to Les...fortunate, 08-15-2004 10:31:41

Just picked up a '48 JD BW with brand new tires for about $600 worth of work, it runs too!

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Mark - IN.

08-15-2004 21:45:24

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Re: Buyer's market for old tractors? in reply to Les...fortunate, 08-15-2004 10:31:41

While looking for a 3 point auger, I ran across the following with no specifics: 830 Case diesel $5,800, 430 Case gas $5,000, JD 4020 $14,000 (rebuilt, new tires), JD 2010 $5,500, JD 1010 $5,500, Massey T30 $3,500, Oliver 1600 diesel $3,200, several 2N - 9N's between $3,000 and $4,000 (one cheaper but is in pieces). They were advertised in a local paper this weekend back home (People's Peddler). Kind've would've liked to have found time to look at that little Oliver, but finding the time for the auger was more important, and I couldn't even find the time for that. Oh yeah, some guy's got like 6 Farmall H's and M's lookin to unload, but I don't recall seeing prices. And, was in a Home Depot and saw some sort of Deere rider/garden tractor with a mower deck for $4,000 that they'll never get from me for that thing even if I did like or need it, but it would be fun to back over it a few times with the Allis B mower (just for the pleasure!!).

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Jonathan

08-15-2004 19:16:20

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Re: Buyer's market for old tractors? in reply to Les...fortunate, 08-15-2004 10:31:41

Ha, see Les, I knew I wasn't crazy when I posted about seeing declining equipment values last year!. I have seen some wickid good deals on equipment the last few auctions that I been to. Just too bad that I have already bought what I needed before the price drop. I think there is quite a few different reasons why equipment has declined in value. The biggest reason is like somebody already pointed out that the people who remember using those old tractors the most are dying off or retiring and not having enough income to support the hobby. Even fuel is expensive right now and costs something to drag them around to shows. Alot of the smaller farms are selling out to bigger farms and bigger farms have no interest in old stuff, especially the smaller old stuff. Prices may pick back up, especially with tractor pulling increasing in popularity, but the way I see it, its a rich mans game anyway, you'll aways find that in the end, the prize always goes to the guy who spent the most under the hood of his tractor, or who bent the rules the most, not the average farmer who pulled in with his tractor just out of the field. I think old iron will always be in demand, even if only to keep the snow cleared from a driveway, there will always be a demand for them. I was told by a local farmer he bought new because of the 0% financing deal, he told me he figgured he was better off with a new tractor rather than pay interest on a used machine. The local Case IH dealer is getting and keeping a pile of used equipment lately, seems nobody is very interested in 84 and 85 series Internationals right now, because they have about 6-8 of them, and have had them for awhile, some of them they've had for a couple of years and nobody has bought them (they're in decent shape too), stuff is really starting to pile up, especially used lawn and garden tractors at the moment.

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Les

08-16-2004 17:49:30

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Re: Buyer's market for old tractors? in reply to Jonathan, 08-15-2004 19:16:20

You got it right, Jonathan. I've seen evidence of it all over the place this year.
BTW, I'm looking at a nice little VAC-14. Guy bought it a few years ago at Gray's auction for $1350, used it to haul logs out of the woods. From his stories, he worked it hard. Says he always kept all the fluids filled. He never said he changed any of them. He's asking $1500 for it now. HAH! Not from this old fool. Might give him a thou if I could sell either my other VAC or my SC.

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buickanddeere

08-15-2004 18:26:06

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Re: Buyer's market for old tractors? in reply to Les...fortunate, 08-15-2004 10:31:41

The people who were around 1920 to 1950"s vintage equipment as youngsters and later collect it during middle age. Have either died or retired. Those surviving are on retirement income and have had to sell collections for $$$ or have a shortage of storage space. 60"s & 70"s vintage stuff is really picking up around here.

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JSinIL

08-15-2004 17:44:49

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Re: Buyer's market for old tractors? in reply to Les...fortunate, 08-15-2004 10:31:41

I agree, I just tried (twice) to sell my pride and joy '45 on Ebay where I have seen junk go for more than new was worth. Didn't even get close to reserve which was a fair realistic price for a really well done ready to go WD45. I am seeing a lot of prices start to go really low, I am thinking about "stocking up" since it seems I can buy 3 for what 1 used to bring.

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Indydirtfarmer

08-15-2004 12:08:08

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Re: Buyer's market for old tractors? in reply to Les...fortunate, 08-15-2004 10:31:41

Been noticing that myself. I"m guessing it has a lot to do with the economy. (Or the "unsure-ness" of todays economy) I deal mainly in impliments. I"m selling as many, or even more "top-of-the-line" stuff, but the cheaper, or worn out stuff, I can"t give away. The people that can afford to buy what they want, still do. Those on "marginal incomes" have quit buying for now. I"ve noticed the tractor market making some wild swings. What goes up, must come down..... What goes down, MIGHT not come back up. Around these parts, the folks buying tractors to use, are leaning toward those "orange imports". Easy payment plans, and the attraction of NEW draw people in. The "collector quality" tractors are still selling high around here.
The "bargains" here are in the late 70"s to late 80"s age range. I"m a bargain hunter....Won"t buy anything unless it"s well under "book value". Even if the values drop some, I"ve still got a margin of error. John

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JD 5020 guy

08-15-2004 11:41:13

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Re: Buyer's market for old tractors? in reply to Les...fortunate, 08-15-2004 10:31:41

It's a buyer's market around here and thats the way I perfer it. This spring I was able to buy a MF 55 and 555 together for $430. Both are complete. Neither of them run but 7 out of 8 tires between the two hold air. The 55 I think would run if I go out and pull start her but the engine in the 555 is stuck.

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Big Ed

08-15-2004 10:55:23

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Re: Buyer's market for old tractors? I would assum in reply to Les...fortunate, 08-15-2004 10:31:41

I've seen the same trend on the older stuff.They seem go go in cycles [old cars do] and I assume they are on a "down" cycle. Now might be a good time to buy something if you could find one someone has bought and tired of,****AND****will sell it reasonable,I've seen cars that were bought,parts bought some work done,then sold at about what the car alone was worth,because some got tired,or found another intrest.

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Les

08-15-2004 16:34:03

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Re: Buyer's market for old tractors? I would assum in reply to Big Ed, 08-15-2004 10:55:23

I got an email today from a guy who mostly lurks on these boards. He tells me he bought 2 Massey Harris 30s at an auction recently. One had a 3 point hitch. Paid $75 for one and $5 for the other. Wish I could find deals like that.

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Brown Dirt Cowboy

08-15-2004 17:57:29

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Re: Buyer's market for old tractors? I would assum in reply to Les, 08-15-2004 16:34:03

Les I forgot to tell you that neither of the 30s drove up on the trailer but the one with the 3point is complete and the other one mostly just a frame but should get a few parts off it. Now on the prices, I think that they are getting to where they should be, for so long I kept seeing so many tractors that I thought were so overly priced. And the used parts market can drive the price of tractors up to.I try to get a bargain or I don't bring it home because if I bring it home it is a tractor that I want to keep and the only reason I bought the 30s is for the 3point, I have already been offered my money back after I take off the 3point. Les have a good day. Tom

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jimbo

08-15-2004 19:22:06

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Re: Buyer's market for old tractors? I would assum in reply to Brown Dirt Cowboy, 08-15-2004 17:57:29

I see where the 8 N Fords in the photo ad's are still out of sight.I saw one where they were ASKING 6000 dollars.Of course it was show quality.I've been trying to sell a 9N FOR 1500 in good condition and can't even get a call on it and it looks a lot better than a lot of 8,9 and 2N tractors they list for 2000and 2500 dollars.I just wonder if any of these tractors are actually sold.

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Les...hehheh

08-15-2004 19:10:50

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Re: Buyer's market for old tractors? I would assum in reply to Brown Dirt Cowboy, 08-15-2004 17:57:29

Gee, I wasn't going to give you up but you done it yourself!!
";^)

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FarmBoy

08-15-2004 23:14:23

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Re: Buyer's market for old tractors? I would assum in reply to Les...hehheh, 08-15-2004 19:10:50

Hey, if your buying the machine, it your lucky day! But if you are selling... ... too bad for you >:^(

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