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Advisor

How do you determine what is a fair price for an old tractor?

We have been getting a multi-colored stable.  Red, green, orange ... no blue or yellow yet. Anyway, I got a chance to buy another IH 966.  This give me 2 identical chore tractors, same filters, etc., so I am going to selI my gas 170 AC and gas 3010 JD.  Looking at various tractor trading sites I can find prices all the way from "I'd be nuts to sell it for that" to "You gotta be nuts to pay that for it."

 

How do you decide what is a fair starting point?

 

I know, you can always come down in price but you can't go up.  But if you start too high you'll scare folks off before they even look.  I don't buy and sell tractors that much. (both these tractors have a local history.  Both have spent their lives within about 5 miles of where they are setting now.) I don't set and study prices on TractorHouse every week. I don't want to take advantage of anyone ... and don't want taken advantage of. 

 

How do you determine what is a fair price?

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5 Replies
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Senior Contributor

Re: How do you determine what is a fair price for an old tractor?

Nothing is too high until you don't have a buyer Smiley Wink I have a 1066 hydro I could part with but in the same boat as far as how to price it. It's kind of unique with a Durand-Waland tree topper attachment on it. Apple orchards used to be big business here but has been downhill for the last 20 years. Comes in handy to whack tree limbs back in fence rows, but not worth keeping it to run a week per year.
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Senior Advisor

Re: How do you determine what is a fair price for an old tractor?

Greg Peterson, Machinery Pete of this site, has a service that reports auction sales.  That can help you.  I think there is a small charge.

 

You could also put your tractor on an auction and let it go that way.

 

http://www.machinerypete.com/blog/default.aspx

 

 

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Senior Advisor

Re You have already started

In that you have looked is some of the magazine to see what others value theirs at. Ones that are priced too high or too low may have "special" conditions. I would try to be honest with myself in establishing whether i think my unit is exceptionally nice or below average. Then I would decide just how bad i want to part with them. Do I want them gone or do you try for top dollar. If you want them gone, price them fairly or less. If not you may ask for a bit of premium but not so high to discourage interest.

 

Fair is an objective term. What is fair to you may not be fair to me but then you have the right to establish what you think your item is worth. Your potential buyer may choose to dispute that.

 

 

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Senior Contributor

Re: How do you determine what is a fair price for an old tractor?

I sold some older equipment last summer. I hate dealing with the tire kickers. Gave guy who works for me 10% to deal with all that. He also took care of placing the adds. I know he did Craig's list not sure of others. I would expect a lot of 5 to 10 acre homeowners interested in those age and size tractors. I think gas 3010 is worth around $6000. Not sure about AC.
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Senior Advisor

Re: How do you determine what is a fair price for an old tractor?

If there is a local consignment auction that would be a good way to get rid of them. If you don't like the price buy them back and all you are out is the commission.

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