family tractor pricing ?

olgentdc · Mar 27, 2009

Betcha someone has BT-DT .I have left out color brands of tractors for now because I want true Logic to help Solve this problem
My Dear widowed Mom has 3 tractors .She wants to keep 1 or the other of 3 yet,,,All the tractors have willing buyers and homes in the immediate family .One is 1937 antique yr.build that serveral nephews want and is minor concern ... There is one 1982 tractor My sister and B-I-L could use on their farm . Everyone wants them to have it ,,for a price...At this time out of politeness ,No One wants to speak a number Value ...Simplest is to take said tractor to public consignment Auction and B-I-L bid and pay fair market .I think that is stinkie. and ,Maybe it is Just Me ..SO ...I suggested That everyone write down a $number on paper,, throw it in hat Annonymously , open all numbers and average the price , With MOM having a FINAL SAY, If not agreeable we go to the auction feild ,,, Any King Solomon ideas and advice is welcome ? ,thanx jim

old · Mar 27, 2009

Well since your mom owns them she should set a price be it high or low. That is sort of like a tractor I have, till my mom dies it is not 100% mine but for the most part it is. My mom said I can sell it if and only if I get $100,000.00 for it not a penny less and no questions asked. It was her dads tractor.

olgentdc · Mar 27, 2009

True about Mom setting the Price ,,,But she is afraid She may not be FAIR ..........

Anonymous-0 · Mar 27, 2009

Their are good honest people on this board who will give a honest price they won't be high and neither low. You can work thru email or some other source. I've been where you are now, I though we had a good family, not so when it come to money or items such as tractors blood lines get kicked out the window. May God and Moses show you the right path cuz I lost. God Bless will say a big prayer for you tonite

Anonymous-0 · Mar 27, 2009

I have BT-DT many times with my parents and aunts and uncles on both sides. If your mom can afford it I recommend she gives the tractors to who she wants to have them. If money is tight for her she should have a auction than she gets the best price and everyone else can decide what the tractor is worth to them.

old · Mar 27, 2009

Fair in her eyes is all that counts as long as she owns them. That said she could get them appraised but that might cost a few bucks. She and or you could go and look around at tractors like hers and see what going price is and use that to figure out how much to ask and then go from there if say more then one whats tractor X say we will start the bidding at X amount and go till one does not want to go higher like at any auction

TerryB IL · Mar 27, 2009

You can always get the family together and let them bid on the tractor to see who wants it the most. Just let the family bid. That way at least it stays in the family.

kyhayman · Mar 27, 2009

Look in a pub like fastline or something and see how many of the tractor the BIL wants is in it. Take the lowest price for a comparable tractor. As to the nephews wanting the one to build, have an auction for just them. Let them see who wants it the most.

waltdavies · Mar 28, 2009

I gave a $25,000 boat to my daughter and the wife is still mad about it. I didn't need it and its hard to sell sailboats in Oregon.

Walt

Anonymous-0 · Mar 28, 2009

If she, and you (since you seem to care what happens) want to live the rest of your life in piece and get along with family, you're probably best off selling/auctioning them to the public. Then whoever gets them get what they wanted for what they wanted to pay and all is happy. Situations vary, but not that much.

Good Luck, I'm guessing you'll need it.

Dave

Traditional Farmer · Mar 28, 2009

Find an appraiser that all of you approve and agree to buy/sell at his/her estimated value.And it will be an average or estimate as prices vary widely from one sale to the next but non-the-less the pricing will be taken out of family members hands and everyone can be mad at the appraiser who expects such to happen in these type situations and gets paid for it.

Anonymous-0 · Mar 28, 2009

With the three bids thrown into the hat all three parties will have had a say what they think it should bring. No need for an appraiser who could taint the bid. This way all three parties will have had their value heard. The thing of auction there is always someone bidding it up just to see how bad the family wants it and ends up to be overprice3d. Like a tractor bringing 7275 that was worth maybe 25oo avg.

Spook · Mar 28, 2009

Auction it. Less stress for everybody. If BIL can't afford it at auction, he can't afford it.

Anonymous-0 · Mar 28, 2009

Try the easy way first. Probably not, but that MAY just work. (See if everyone can come to an agreement on price) I've never seen a family that can all agree on what someone else gets, so maybe yours will break the cycle.

Then, take sealed bids and give final option to sis/bil to meet/exceed highest bid.

buickddeere · Mar 28, 2009

Best tell everybody that you are going to take a pass on this one. And that they can settle it.
You are going to take the least blame in the long run that way.

Paul from MN · Mar 28, 2009

J, I"d go with a family auction. No need to hire an auctioner. At least for the tractor that has multiple family members interested. For the newer tractor that only your BIL wants, use Ironsearch.com. Chances are you will find one very close to the same condition. You could use that as the price. If Mom wants to give her son-in-law a deal, she can discount it whatever she wants, maybe the fee the auctioneer would have charged. She comes out just as well and BIL should be satisfied.

Anonymous-0 · Mar 28, 2009

I would have to disagree as My wifes grandparents had an auction and auctioneer would only take bids on tail end from his BIL lot of treasures my wife wanted In my family we had an auction but brothers could bid and if didn,t have the money pay later worked out fine and I bought a few that were too cheap and sold them later for my mother. Not all familys will work tho

john in la · Mar 28, 2009

Why not let MOM have the ONLY SAY.
It is her tractor and if she gives it to B-I-L or sells it to him for a million dollars that is her choice.

Sparktrician · Mar 28, 2009

Fair should be only what YOUR MOM WANTS/SAYS.

Will have the same thing in a few years w/ grandfather. The shite has began to thrust into the fan already....Your mothers opinion and wishes and or a family auction (silent or real) is the way to go if everyone wants something....

Ben Grimes · Mar 28, 2009

why not post some pics and see what the tractor collectors on this site have to say?? Ultimately it is your moms final say.

DP · Mar 28, 2009

I don"t know where your located, but am in the machinery business, and could maybe lend a little help. Going by dealers selling prices won"t be as accurate as you think. Consider that first of all, are they getting what their asking, how much reconditioning was spent on it? Looking at dealers adds won"t give you the whole story. What you really need is more what tradein value is. On the antique tractor, the best way to approach (in my opinion) would be a private closed auction amoung those wanting it. If your mom has a low end selling price on it, the bids would have to start at that price. To be of any more assistance I would have to know the makes and models. Good luck.

olgentdc · Mar 28, 2009

That could price the nephews out with their antique hopes ,Not willing to identify tractors at this time ,...Thanx ,But We need logic not market driven discussion..... .I certainly Appreciate EVERYONES INPUT , After a day or so I will show This to Mom , if no one toilet papers this post LOL...LOOKS like opinions vary , just as in my Family ., GOSH Guys ,, We could be BROTHERS in the SAME Family!!! ...LOL , Thanx jim

Michael Soldan · Mar 28, 2009

Some posters have dealt with tractor value but IMHO it is a people problem and I think thats what you are asking. The tractor value has nothing to do with it, its who will still be speaking with each other when its all over. This kind of situation has lead many a family into malais with each other over dividing up property. I have seen brothers not speaking to each other after a scene like this.I have had the experience of being an executor to two different estates and when I was approached about a family member wanting certain things I responded this way. There will be a public auction on(date) and if there is something you want get your hand up and buy it, since you are one of the heirs you will get most of what you pay back in the end. In this manner no one can claim down the road that BIL got the tractor for half of what he should have paid, there is no chance that someone can make a claim of unfairness when its done like that and in the end you have a happy healthy family, you see I am more concerned about you, your siblings than the actual money..money eventually gets spent and disappears but anger and hate live on for decades.

M w J · Mar 28, 2009

If you have a friend that sells that brand of tractor get him to appraise them . They know close to what real value is then from there set the price. and then on the tractor the nephews want have them rite down what they would pay then take the best price .

fixerupper · Mar 28, 2009

Jim, sometime in the future some family member might try to accuse you of trying to sway your mother back when she divided the property so be careful. From what I've seen, the spouse of a brother is the one who causes the stink because she can't get along with the spouse of the other brother, if there is one. Jim

I need a handle · Mar 28, 2009

If you put it through a consignment sale, your family will lose a percentage of the value to the auctioneer. In the case of my local consignment yard, the fees are pretty hefty. It would be best to go on tractorhouse, get some values and determine a value based upon that.

Something else to consider is some other guy going to the auction that doesn't know enough to quit when the bidding starts, and while your family might get more money, you'll lose the tractor.
Hope this helps,

Anonymous-0 · Mar 28, 2009

(quoted from post at 07:29:07 03/28/09) the spouse of a brother is the one who causes the stink Jim

Exactly................

I'd figure out what they are worth and put them on ebay with that as a minimum and not look back.

Dave

Kirk Grau · Mar 28, 2009

Something I have not seen yet that I have seen work well (or at least the family still talks to each other) is to give all interested parties a quantity of monopoly money or some way to keep track of "points" and have an auction with the play money. Once somebody is out of money they have all they are entitled to and sit out. Might be more applicable with more items than you are talking about, but something to think about. Also depends on if your mother needs the cash that an actual sale would generate.

Good Luck with whatever you decide,

Kirk

thurlow · Mar 28, 2009

Not quite the same scenario, but; My grandmother appointed me (oldest grandchild) as executor of her estate. She had 4 children and a couple (maybe 4) were STRONG-WILLED and she knew it'd be a disaster to appoint one of them. Everything she owned was to be sold. Since they were to benefit equally, the attorney advised me to hold an auction.........for just the 4 of them; no spouses, no kids. It worked out fine, with minimal grumbling. The house and property was sold separately.....at private treaty, after one of the 4 had insisted on buying it for EXACTLY half what it eventually sold for.

Germ · Mar 28, 2009

I ran into the same situation when Grandpa died. He had promised me his F20. After he passed away, grandma told me to come and get it. I declined since there were 8 other grandkids that I'm sure would have said something down the road. I told her I would buy at his estate auction so there would be no hard feelings in the family. On the sale day, my wife went into labor, I left a bid with the auctioneer, and I lost the tractor. That said, 8 years later I got the urge to fine it. It took another 3 years and 3 owners later I found the tractor and bought it back. The story of the pursuit and eventual find was worth way more than getting the tractor for free. I would do it the same way again, only leaving a much higher bid.

My suggestion would be a silent auction. Have everyone that is interested get together at the same time, write their highest offer down on a piece of paper and give it to your mom. Highest bidder wins. Everyone has an equal chance to give it their best shot. If there is any grumbling, the complainers just need to be reminded that everyone had the same opportunity to buy at their price.

Anonymous-0 · Mar 28, 2009

J,you didn"t say whether you are going to sell more or just these two tractors are it.There is no correct answer to this.IF you run them thru a public auction,there is the possible chance that other family members could go together and have a third party run the price up or if that person isn"t liked in the community,neighbors band together and run the price up way beyond what the idem is worth to anyone.I have seen that done too many times over the years.Sad but true.

Anonymous-0 · Mar 28, 2009

They are still your mother's tractors. She needs to give the tractor's to whomever she wants to have them.

Now to keep the estate even, get her to set up her final papers so that whatever the value put on the tractor's, if given to an heir now, is a deduction from the heir's share at final settlement.

Anonymous-0 · Mar 28, 2009

When my dad passed, I had the first option to buy his acreage from the estate. I inherited 1/4 of it and in order to buy out my siblings, 2 appraisals had to done so I was paying fair market value. Any good dealer should have a tractor blue book. I used to have one but someone threw it out. It was quite big and listed all the Nebraska test data as well as most recent selling prices. A dealer gave it to my dad when he worked there. It is just like a car blue book and lists prices for tractors from excellent to poor condition. Using a guide like this would be the fairest way to establish a price. If someone wanted a certain tractor, they could make an offer and see if everyone would accept it. If not go by the book price. That's what a court would go by. Any number of things can happen at an auction. Dave

big jt · Mar 28, 2009

Just went through this sorta.

Actually both my parents are still alive and kicking. Heck dad still helps me in the spring and fall.

At our attorneys suggestion we had a Auctioneer come in and appraise all of dad's equipment. Lawyer set up a purchase agreement based on the value and I am buying him out of what he has left. Did it this way so none of my siblings and in laws could complain.

Would suggest you have a local reputable auctioneer give you a apprasial on the tractors you are gonna sell and just use his number.

In the long run Mom has the final say since it is her equipment. Throwing numbers in a hat and averaging them sounds like trouble as taking to a auction would also be.

Best of luck on this

jt

Janicholson · Mar 28, 2009

Fair will happen when the settlement of her will is over. Till then just indicate the fair value of each in a ledger so it is accounted for. JimN

dieseldoc · Mar 28, 2009

Everyone is always thinking about money. If I was getting rid of my tractors to family members I would GIVE them to the person that is going to use them on the FARM. When I get old and if my kids do not want to farm I will find a young couple looking to get started tell them I need a certain amount of money to live off of untill I die. And when i am gone everything becomes thiers.Land cows and all equipment. No one has helped me get started and I know how tough it is for young farmers to make it.I would love to help someone out someday. Besides I cant take it with me anyway.

Doug in Illinois · Mar 28, 2009

A few ways to get rough value on the newer one:
www.equipmentlocator.com
Craigslist.
OR see what similar has brought as completed auctions on Ebay.
Just my 2 cents worth. DOUG

family tractor pricing ?

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