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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Today's Featured Article - Seeing an Old Friend - by Joe Evans. Dad had a concrete contracting business starting in 1960. One of his first pieces of equipment was a Ferguson TO-35 with a Davis loader. Dad replaced the TO-35 with a MF 202 Workbull, essentially an industrialized Ferguson 35 I am told. Dad bought the 202 new in 1962, and I recall quite clearly going to the dealer with him to sign for it.
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