Price Check Used pricing on PT's....

davesisk · Jun 3, 2005

Used pricing on PT\'s....

Hey folks:

Well, I believe I've decided to sell my PT1418. My needs have changed enough that it's not quite the right fit any more. /forums/images/graemlins/shocked.gif It's difficult to justify keeping it if it's going to sit there unused the majority of the time...it needs a new home where it can work and be happy! /forums/images/graemlins/cool.gif

I'm just curious if anyone has a feel for fair used pricing...the machine is roughly equivalent to the current PT-422 (except 18hp instead of 22hp), had a new engine in 2000 or 2001 (and I've probably put 200-300 hours on it) has hydraulic PTO and auxillary (ie. directional) hydraulic circuit, the 9 cubic foot bucket, front-hoe, and swivel power auger head with 9" auger, plus an extra attachment plate. This is an older model that uses the previous 3-pin attachment method rather than the newer quick-attach, but it's still not too cumbersome, especially when you can wiggle the steering to get things positioned right. The paint's faded and there's a few spots that have some minor surface rust, but it's in great running shape and just as gnarley as it was the day it came off the production line.

Best I can figure, a new 422 with the same attachments is around $9300 or so, plus shipping. Anyone got a feel for what a fair used price would be?

I've been told that Terry at PT thinks it's worth about $2600. Huh??? I'm wondering if Terry has lost his mind! If that's his opinion, it sure seems like Power-trac is undermining their own resale value...very strange. Most mfg's over-estimate what their brand of used gear is worth. I'm looking at a few of the used machines on Power-trac site, and I sure don't see any for $2600. (Maybe Terry just really wants to sell new ones rather than cultivating a decent used market, eh?)

Anyway, I've never found a PT listed at any used tractor pricing sites, and there's none that have sold used that I can find on Ebay or anything. I've been told that most equipment like this goes for around 75-80% of it's new price, based on condition of course. (Looking at most CUT's, this seems to be pretty accurate...age doesn't seem to matter than much, but condition does.) I intended to price mine at around 70% of new, but now I'm not sure if that's a fair price.

Anyway, any thoughts on fair used pricing? Thanks for your guidance oh wise ones... /forums/images/graemlins/wink.gif

Dave

Bob999 · Jun 3, 2005

Re: Used pricing on PT\'s....

Dave,

I would like to think PT's hold value as well as your thinking--it would be great to sell mine some years down the road for a price like that. However, I would not be willing to pay 70% of new for a 15(?) year old piece of equipment with undetermined hours, even if the engine has been replaced in the past 5 years. Ultimately the price will be determined by what you and a buyer agree on and I wish you luck.

davesisk · Jun 3, 2005

Re: Used pricing on PT\'s....

Bob:

Thanks for the post. The question that always comes to mind for me is what else is there that can load, do light excavation, and dig post holes for around $6000-7000 or so? The only answer I get is another PT! Certainly no other CUT equipped for these tasks for anywhere near the same price (and small enough to fit into the same places). I also know you can't buy a used Toro Dingo or any of the clones similarly equipped for that price (I know because I tried before I stumbled across this PT). I think this equation is also true if you consider everything new rather than used. Come to think of it, I can't for the life of me figure out why Power-trac isn't a huge conglomerate by now!

That said, you are absolutely correct...ultimately, anything is worth what someone is willing to pay for it. /forums/images/graemlins/cool.gif

Dave

BobRip · Jun 3, 2005

Re: Used pricing on PT\'s....

I think you may have found a weakness of the PT. Buying brand name equipment means you get a good resale value. At this point PT is not a brand name (in my opinion). I bought a gray market tractor a few years ago and lost about 50% on it in 3 years. Good luck on your sale, and let us know how you do.

Bob Rip

blackwell · Jun 3, 2005

Re: Used pricing on PT\'s....

Buy a new car and drive it off the lot and you lost 25% of its value. Just bought two mercury sables for company use, 2005, 688 miles and 920 miles for $11,000 and $10500, less than half price.
Most used shop quipment, welders, lathes, etc. are about the same.
Anything is only worth what someone will pay for it. On PT's web site is a 1850 and 90" mower with only 200+ hours for less than half price while 422 & 425's carry much higher resale. Some time ago a finiance co had a 422 & 425 with several attachments for $2500, one needed an engine. I'd be supprised if you got $2500 for your machine.
Good luck,
EB

BobRip · Jun 3, 2005

Re: Used pricing on PT\'s....

What are you planning to replace it with?

Bob Rip

davesisk · Jun 3, 2005

Re: Used pricing on PT\'s....

Bob:

For the most part, I've pretty much finished all the landscaping at my home that I bought the PT to do. It has unquestionably paid for itself.

Not planning to replace it per se...I have picked up a little Massey-Ferguson 1220 4WD HST w/FEL that will serve the occasional loader duties almost as well as the PT, and will serve a few other duties better (like running a 3-pt chipper/shredder, possibly a PTO generator, might serve some mowing duty at some point). Who knows...I might consider building a really small backhoe attachment just for the fun of it as well...I seem to have a hankerin' to give that a try... /forums/images/graemlins/tongue.gif

Dave

davesisk · Jun 3, 2005

Re: Used pricing on PT\'s....

( ... while 422 & 425's carry much higher resale. Some time ago a finiance co had a 422 & 425 with several attachments for $2500, one needed an engine. I'd be supprised if you got $2500 for your machine.
Good luck,
EB )

Did you mean 422's and 425's carry much higher or lower resale? The finance company thing sounds like a self-fullfilling prophecy to me...who would a finance company who had repossessed the machines call to determine their value? And who would they probably talk to when they call Power-trac? Sounds like more of Terry's influence to me! /forums/images/graemlins/smirk.gif Of course, as I understand it, Power-trac recently sold two refurbished 422's for around $4K each, no attachments. I guess they're worth $2500 if you buy them from someone else, but worth $4000 if you buy them from Power-trac? /forums/images/graemlins/grin.gif I think we've had a discussion like this before...a big PT weakness doesn't have anything to do with the machine itself, but moreso the company and it's sell-direct policy with no dealers providing service and making a market in the used machines.

Anyway, this is all conjecture...the bottom line is, as with anything else, it's worth what someone's willing to pay for it. I know what I was willing to pay for it...I'm sure there are quite a few other folks like me...er...uh...yeah...well maybe a few that are almost as eccentric... /forums/images/graemlins/wink.gif

L8r,
Dave

BillCroasmun · Jun 4, 2005

Re: Used pricing on PT\'s....

Dave,
I have done a lot of reading on this site in the past. Mainly by searching for what I wanted to know at the time but more recently going back to the beginning pages of the forum and reading through the threads 1-by-1 to see what insights and tips I could gain. (As an FYI for those who wonder, they go back 50 pages in the PT forum. /forums/images/graemlins/shocked.gif I'm about 10 pages in. /forums/images/graemlins/wink.gif)

Anyways, I have just recently read your PT acquisition messages along with your telling of internal debates on which brand to buy... I think if you try selling it for what you bought it for plus a little for the improvements along the way you may sell it at a wash. A couple years of work for just your time and operating costs would be nice. If it doesn't sell you can always come down over time. If I hadn't recently bought my new 180 I'd have probably thought pretty hard about taking a trip down to see yours at that price. With me money was a BIG factor in purchasing and yours would have been very reasonable in my eyes. /forums/images/graemlins/grin.gif

davesisk · Jun 4, 2005

Re: Used pricing on PT\'s....

( Dave,
I have done a lot of reading on this site in the past. Mainly by searching for what I wanted to know at the time but more recently going back to the beginning pages of the forum and reading through the threads 1-by-1 to see what insights and tips I could gain. (As an FYI for those who wonder, they go back 50 pages in the PT forum. /forums/images/graemlins/shocked.gif I'm about 10 pages in. /forums/images/graemlins/wink.gif)

Anyways, I have just recently read your PT acquisition messages along with your telling of internal debates on which brand to buy... I think if you try selling it for what you bought it for plus a little for the improvements along the way you may sell it at a wash. A couple years of work for just your time and operating costs would be nice. If it doesn't sell you can always come down over time. If I hadn't recently bought my new 180 I'd have probably thought pretty hard about taking a trip down to see yours at that price. With me money was a BIG factor in purchasing and yours would have been very reasonable in my eyes. /forums/images/graemlins/grin.gif )

Well, that's my thought too. I'm not trying to make a profit on it or anything...I'd like to get most of what I have in it back out if possible. I don't mind a little bit of "loss"...I think of it as a cheap 3-4 year rental! /forums/images/graemlins/cool.gif If I lose $1K off what I have in it, I certainly couldn't have rented something similar for 3 years for $1K, if you follow me.

I think I might have said this before...I think that Power-trac markets these as "tractors" when what they should be marketing them as is "compact utility loaders", etc. In other words, instead of competing with Kubotas, John Deere's, and New Hollands, I think PT should be competing with Toro Dingo's, Ramrod's, and Kanga's (at least with the smaller units anyway). I think PT would fair much better against that set of competitors! Just my humble opinion though...

Dave