BUYING USED EQUIPMENT AT AUCTION

   / BUYING USED EQUIPMENT AT AUCTION #1  
N

NATTYBUMPO

Member
Joined
Jul 28, 2003
Messages
33
Location
Traverse City, MI
Tractor
Kubota L3010GST, 4WD,R1s
I'm going to an auction with a bunch of used 3-pt farm equipment next weekend. I will have done some groundwork re prices for both new and used equipment of the same type.
My question is: what do you guys consider to be a "fair deal" for used equipment that is: 1) Almost New - ie used maybe once or twice and stored inside, or 2) Used but not Abused - faded paint, a few bunps and scratches but well cared for and field ready ??
I'm wondering in percentage terms of the same piece of equipment new?? Thanks for any thoughts.

Natty B.
 
   / BUYING USED EQUIPMENT AT AUCTION #2  
Depends on the equipment - a well used box blade or straight blade will work the same as a new one, even if it isn't purty (might have to replace an edge or scarifier, but you can see that kind of wear pretty easily). What isn't so cut and dried is something with more parts - gearboxes on cutters, tillers, etc. may be badly damaged internally and you can't tell until it breaks on you (this could be true of relatively new equipment, too).

So I'd throw out at least 1/3 $$ less than new for #1 condition and at least 1/2 $$$ less than new for #2's before I'd consider used. But there are other factors which I may not have thought about...
 
   / BUYING USED EQUIPMENT AT AUCTION #3  
The last thing I bought used was a carry all. I paid $40 + tax. The counterman wrote it up as junk. /forums/images/graemlins/laugh.gif Other items, single row cultivator $70, grader blade $100, Single 16" bottom moldboard plow $100, subsoiler $75. 2 sections of spike harrow, $40 per, took two to make one.
 
   / BUYING USED EQUIPMENT AT AUCTION #5  
It's really impossible to say. I've seen older equipment go for more than new. The reason guys said was you couldn't buy equipment like that anymore. The new equipment wasn't made as good. Sometimes you'll get things cheaper but not often. With the boom in compact tractors and so many people having acreage now there is tremendous bidding on alot of this stuff.

You can get it cheaper but it's one of those deals you have to be in the right place at the right time.

You also have to beware of the equipment. You never know what you are getting buying at auction. Once you buy it's yours as is. Personally I try to buy new or buy used from a reputable dealer.
 
   / BUYING USED EQUIPMENT AT AUCTION #6  
I'd think if you could get the 'average' piece for 50% of new and the 'nice' piece at 70%, you'd be doing very well. Auctions are very odd. There doesn't even seem to be a pattern within the same auction. By that I mean everything you watch can seem to go very high yet there will still be a bargain on something. I've been to multiple sale ring auctions and watched two virtually identical items sell within three minutes in different rings for a difference in price of 25-30%. /forums/images/graemlins/crazy.gif Good luck at your sale. Don't forget to tell us what you buy. /forums/images/graemlins/smile.gif
 
   / BUYING USED EQUIPMENT AT AUCTION #7  
Natty,

Welcome to TBN. Do us all a favor and fill your profile and let us all know where your from. Some of us wouldn't mind if you told where this auction was so we could go to it if in your area.

Thanks
murph
 
   / BUYING USED EQUIPMENT AT AUCTION
  • Thread Starter
#8  
Thanks for the replys, guys. We've bot a few things at farm auctions ,but never a major piece of equipment. I appreciate the advice. BTW this auction will be in Mesick, Mi on Saturday. I'll be filling in my profile as soon as I figger out how!
I'll also pass along my experience with two dealers this week. Dealer #1 I bot my K3010 new 4 yrs ago.Didnt haggle much on price at all. He has a 60" LP tiller that been used as a rental- New price is $1950 - he'll let me have it for $200 off!! Not sure what year it is! Some deal for a good customer as I've bot all my oil, fluid, filters, grease, chains, etc from him.
Dealer#2 (Big Green) Has a Befco 366 that several years old and has also been used as a rental - kinda rough with new times. He goes "Well its $2350 new but i'll sell it for $1950!!" Well. when it was new it didnt LIST for $2350 or 1950 either! What am I missing here?? Anyway, that why I'm goin to this auction. What am I missing here??

Natty B. /forums/images/graemlins/confused.gif
 
   / BUYING USED EQUIPMENT AT AUCTION #10  
To be able to properly bid at auctions takes time. One has to know all the normal prices beforehand, know when to stop bidding and be able to evaluate the condition of equipment in a few minutes time. This proccess means you have to hang around some auctions to get a general feel of how things go.

Some equipment is quite easy to evaluate but as others have stated anything with gears, bearings or chains or wear items shuch as tines or shovels may be more difficult. On these type of items a repair factor should be included before you start biding.

Some people get lucky but it may be because they have done a lot of homework.

Egon
 
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