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Farmall & IHC Tractors Discussion Forum
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Sale prices

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ShaggyM

02-24-2008 05:32:30




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I am not trying to start a color war or anything like that. I was at a sale yesterday and they sold a JD G and it needed some help as far as looks go but it brought $24,000! and a 8020 brought $61,000! I am glad the little Farmalls are still pretty reasonable in price.
Shaggy




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CenTexFarmall

02-24-2008 08:45:13




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 Re: Sale prices in reply to ShaggyM, 02-24-2008 05:32:30  
In a way that's not good.
The hobby of owning and fixing up muscle cars has almost been ruined by speculators at auctions. It's a small number of cars that people pay big bucks for, but then everyone who has an empty rusty body of a plain old car thinks it's worth a small fortune.
People are buying cars, putting cheap paint jobs on them and then trying to flip them for big bucks.

I'm glad there are enough people using old tractors to create a demand for aftermarket parts and also glad that most tractor models were pretty much the same during there production run. There's not too many that are ultra valuable such as high crops. It helps to keep the prices stable so if a regular person wants to go out and buy a plain old M to use, they can.

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Red Mist

02-24-2008 13:04:26




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 Re: Sale prices in reply to CenTexFarmall, 02-24-2008 08:45:13  
CTF: You are exactly right when you say, "In a way that's not good." I totally agree. That is why I said on this forum about two years ago that the (publicity from the) article appearing on the front page of the Wall Street Journal about Kristen Gall restoring his grandfather's Farmall was not all good. The publicity can bring in speculators and dealers and the end result can be tractors we can no longer afford. I, too, have seen it happen in the muscle car and other markets. The Barrett-Jackson Collector Car Auction is the worst thing to ever happen to the collector car hobby.

I was scorned here for my position that the Wall Street Journal publicity had any potential downside. I still stand by those comments: Too many dollars and too much publicity will bring in the speculators and ruin a hobby everytime. To them, old tractors are nothing more than a commodity. The faster the price goes up, the happier the speculators and dealers are. And, they work hard to make it happen once they get into a market.

The recent price escalation of the Farmall 1206 seems close to that scenario now. And, what model tractor was in the Wall Street Journal article? The 1206. Coincidence? I wish.
mike durhan

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CenTexFarmall

02-24-2008 17:39:11




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 Re: Sale prices in reply to Red Mist, 02-24-2008 13:04:26  
"commodity" is the perfect word.

It's better to fly under the radar, so to speak. Too much publicity will attract the wrong people to the hobby. All they want is growth for the sake of growth. The word we have for that is "cancer".


Fortunately a Farmall M looks pretty much like another Farmall M and I'm not complaining!

The Green tractors seem to be more afflicted than the Red ones, but even they seem to have a ceiling. They were lamenting the other day on that forum about the cost to truly restore a 2 bang diesel vs. what you could expect to sell it for.

Of course the usual suspects go real high; high crops, experimentals, etc.

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Jake Winn

02-24-2008 08:35:02




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 Re: Sale prices in reply to ShaggyM, 02-24-2008 05:32:30  
Was there a link to the auction website? id like to see some pix of the stuff.
Thanks



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ShaggyM

02-24-2008 10:31:59




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 Re: Sale prices in reply to Jake Winn, 02-24-2008 08:35:02  
I think the site is topauctions24-7.com and the sale was in IL.
Shaggy



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Up North Louie

02-24-2008 08:33:06




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 Re: Sale prices in reply to ShaggyM, 02-24-2008 05:32:30  
Must be nice. I hope he enjoys it. I have never been within 40 acres of $60,000-- but knowing myself, I could find ways to dispose of it...



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Don L C

02-24-2008 07:42:35




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 Re: Sale prices in reply to ShaggyM, 02-24-2008 05:32:30  
Could it be you have one to many o on the price $6100.....



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ShaggyM

02-24-2008 08:08:51




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 Re: Sale prices in reply to Don L C, 02-24-2008 07:42:35  
NOPE! That is what the finial price was! It was #37 out of a 100 8020's made.



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Darald

02-24-2008 11:01:42




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 Re: Sale prices in reply to ShaggyM, 02-24-2008 08:08:51  
The Jan - Feb issue of Two cylinder has the 8010 and 8020 information. In 1961 -62 there were 100 8010's made, to be recalled in 63 for a tranny cooling problem. They were returned to owners in 64, now designated 8020. 77 were updated leaving 23 mystery tractors.



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Vito

02-24-2008 06:27:34




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 Re: Sale prices in reply to ShaggyM, 02-24-2008 05:32:30  
Some potential buyers get a little out of sorts at these things.

Vito



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J.J. from Afton

02-24-2008 05:52:03




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 Re: Sale prices in reply to ShaggyM, 02-24-2008 05:32:30  
I know, I know but I think it would be alot of fun to get ahold of one of them JD 8020s.



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