Last year I purchased a 2005 Massey 1528 with 1520 loader with 5 ft bucket for $9,000 from a Massey/Kubota dealer about 100 miles from my home. Tractor is 28 hp, geared with 3 ranges, R4 tires had 400 hours and looks brand new. Tractor had been well cared for by prior owner and lightly used. Previous owner purchased originally from same dealer and traded for bigger tractor. The price included delivery. So good deals can be found on tractors in great condition. You have to be diligent in your search and quick to respond when the right tractor comes up for sale. I had no problem buying a geared tractor as I do a lot of mowing and not much loader work. You mention spending $12,000 for a 40 year old grey market tractor but for a few thousand more you can get a new tractor. Smith’s Enterprises in N.C. has TYM T264 package with tractor, loader, 5 ft rotary brush cutter, 5 foot blade and 18 ft trailer for $17,555. So tractor only should be only a few thousand more than the grey market tractor.