Selling used - tractorhouse vs ebay vs Clist

[4570Man]

I guess you Maine folk are a bit more trusting than I am.
I bought my 2006 L48 TLB last June from a guy on Little Deer Isle (not that far from you I think)
I did not even see the machine (CL), but agreed on a price over the phone, after having a long ago engineering college classmate (he lives on Deer Isle), look at it for me.
I mailed the seller a bank check for 20% ($6,400), and agreed that I would bring a $25,600 bank check at pickup, in two weeks (350 miles away).

When I picked up the machine I asked if he had considered what might have happened if I had canceled/stopped the $25,600 bank check.
I could have picked up the TLB, cancelled the $25,600 check, and been 350 miles down the road with his $32,000 machine.
Tractors do not have titles.
All he really knew he that he had for sure was my $6,400 deposit.

He told me that he is a contractor (small time builder), and had only been stuck once.
Wow! Just the potential for a $25,600 sticking would be a bit worrisome for me!
All that said: He was a great guy, who now has Parkinsons disease, so could not use the TLB
Kubota L48 had only 250.9 hours, 3rd function/diverter/hydraulic SSQA/3 rear remotes/11' backhoe/hydraulic thumb/QA hoe bucket, even a horn. He was the original owner.

I am now the 2nd owner.......a 79 year old very happy camper, with an absolutely delightful end of life toy!

I’ve sold a machine and a trailer with a check. I figured if it bounced I’d call and report it stolen which technically it was and my insurance would pay.

 

[caver]

I have some music gear I no longer need. A guy on Marketplace yesterday offers me 200$ for a bass amp. I said no. He responds "come on man work with me" and then offers 250. My price is 300 and I respond with "look on Reverb as they are going for more than what I want". He responds "hey can't fault a guy for trying." The 200 offer told me he was probably flipping gear. What he's probably looking for is someone hard up for Christmas gift money. I'm not that guy and really don't have to sell. I get home tonight and another guy says he wants it and when can he come by. It's been my experience that low ballers never have any intention of coming to look at item. Years ago when I sold my dump truck some dude out of state offered me 50% less than what i wanted. I said it's worth more than that. Next thing he responds with is "that era Caterpillar engine was known to have serious issues." I took that as he got his feelings hurt. He peaked my curiosity so I looked into the engine issue he ranted about and he was correct but it was earlier versions of my engine. My engine had the corrections for the problem.

 

[Industrial Toys]

If something major is wrong with something like a cracked block, it's one thing for a prospective buyer to point it and and suggest that be reflected in the price. But when someone tries to pick the whole thing apart on a used item, to set you up for a low offer, I just suggest that maybe he should be looking at new.

 

[the old grind]

Flippers give themselves away by pouring out possible defects or otherwise finding fault with an item, then not leaving when you stand fast on price.

A brand collecting friend went to look at a Coke cooler listed on fb for $200. He took the dog with him to see it up close. Seller was enjoying Millie's company as they chatted when another guy showed up. The guy looked the machine over and began to pick apart every little thing he could find. Scratches, dents, peeled paint, the machine was rough but ran.

The latecomer insisted that the machine was ready for the scrap heap, that anyone would be lucky to get half the asking price. The seller nodded in agreement, cheerfully took my pal's hundred $$, and help him load it up.

 

[sodamo]

I have a neighbor who buys quite a bit, CL etc. This stuff he does use, not resell. Drives me crazy when he regales us with how he beat the seller down, basically nit picking. I asked him once how he’d respond if roles were reversed. Just not sell to that person.
I like the guy, but would never sell to him.

 

[fried1765]

I致e sold a machine and a trailer with a check. I figured if it bounced I壇 call and report it stolen which technically it was and my insurance would pay.

That might be all true...if the seller had a trailer, and insurance.
He did not.
Blind trust for insurance payment on ANY CLAIM is pure folly in my opinion.

 

[4570Man]

I had separate policy’s on my tractor and the trailer which were sold on separate deals. If they were stolen why wouldn’t the insurance pay? Otherwise what’s the point of having it?

 

[fried1765]

I had separate policy’s on my tractor and the trailer which were sold on separate deals. If they were stolen why wouldn’t the insurance pay? Otherwise what’s the point of having it?

My experience is that if an insurance company can possibly find a reason/excuse to not pay, that is exactly what they will do.
Their likely position will be that they will not pay, because you (the seller) neglected due diligence for method of payment.
You were a victim of fraud!
Nobody stole anything!
You were present, and you willingly handed the merchandise ( tractor keys, and trailer title) over to the supposed buyer.
Vehicle/machinery insurance does not cover fraudulent transactions.
How do YOU, as an individual, fight that?
Hire an attorney...$$$$$$$$ ??

And .....Good luck!

 

[the old grind]

My experience is that if an insurance company can possibly find a reason/excuse to not pay, that is exactly what they will do.

Good luck!

Allstate has been proving this since they lost their a__ on/in a/the '90s tech bubble. :laughing: (also a paragon of loyalty/rate gouging)

(insurance co's are investment pools, tantamount to glacially-paced Ponzi schemes, if you understand macro economics .. and geology ... )

I wouldn't count on any insurance co to go too far, given a 'private sale' aspect and 'his word against yours' bits if the courts were ever involved, .. whether $$ was handed out, or not. (they might 'cop out', too. )

 

[WinterDeere]

I had separate policy’s on my tractor and the trailer which were sold on separate deals. If they were stolen why wouldn’t the insurance pay? Otherwise what’s the point of having it?

This thread has taken an interesting turn. I’m not that worried about payment or scammers. It’s a $10k machine, and getting stiffed on that would really piss me off, but it’s not so much that it’s going to break the bank or change my retirement date.

But I gotta call out this post, 4570Man. Why do you have insurance on a tractor? If you have others using it, and wanted liability coverage for a potential lawsuit, that makes sense. But if you pay loss coverage insurance money on every item you own, the only ones typically benefiting from that are the insurance companies.

My philosophy is to only carry insurance on things that would be absolutely catastrophic to lose, which I am unable to replace with acceptable immediacy from my own funds, namely my house and any brand-new car. I have a $7500 deductible on my homeowners for this reason, and pay a much lower premium as a result of it. I’m not going to submit a claim for a $600 repair, and suffer the potential premium increase, so why carry the typical $500 deductible?

I’d propose that carrying theft or damage insurance on any tractor presently worth less than three months’ salary is foolish, unless you need it for your business and can’t otherwise replace it from your own funds.