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Re: restoring antiques as a hobby
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Posted by david on November 22, 2002 at 12:36:00 from (205.204.242.23):
In Reply to: restoring antiques as a hobby posted by Mosey on November 22, 2002 at 05:50:37:
When I started farming all the equipment I could afford was "junk". I found in a market with a growing population and lots of farms being split into 5 and 10 acre tracts a lot of these units could be sold profitably after a years use. What I have learned is:
1. Buy stuff that people in my area want
2. Buy mechanically sound stuff without a lot of expensive hidden problems (like select-o-speeds and powershifts)
3. Select mechanically simple stuff (I avoid John Deere stuff (has a high resale in any condition, less room for profit and everything is behind something else). I like Case DB's (hard to work on but lots of room for markup) and Fords (not much room for mark up but simple to work on except SOS).
4. Watch costs. Even with that I get burned. Bought a 990 Case two years ago for $4000.00, first time I pulled it hard it had a miss and unacceptable blowby. Wound up spending $3500 in the engine and injection system and still had a $5500 tractor. Best was a 560 Long with new engine I bought for reserve plus $1.00 ($1801) at a sale (an auction that starts at 18 degrees and snow and ends at 35 degrees and rain is the best). Flushed the transmission and filled, put 2 front tires on it, used it two years and sold it for $3800. The money isn't in restoring it is in returning to service.
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