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1958 Farmall 240 Value

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harvey bishop

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Anyone with knowledge of this tractor’s value, please respond.
This is a 1958 Farmall 240, one of 499 built in 1958, and they were only manufactured between 1958-1961. This tractor was purchased new by North Carolina State University Research Farm and then bought by my father-in-law. I bought it from him 27 years ago and recently restored it to use on the farm for another 25 years. This tractor has new paint, new radiator, rims, tires, hydraulic hoses, lights, seat, and steering wheel. It also has the original two row cultivators and the fast hitch drawbar.
After discovering how rare this tractor is, I decided to retire it from the workforce. Some neighbors said to enter it in a tractor show, which I did and it won first place!
(Picture is in Tractor Photos)
 

$2,500, and that is because of the new rear tires. On a good day, at the right auction, could go as high as $3,500. Your tractor may be one of only a few, but the demand in the collecter market just isn't there.
 
Rusty is correct. It is a low numbered unit of a modest ~3500 production run. It is a new model number, but not too much different in power train than its Farmall C ancestors. It is a nice handy tractor. the right buyer could go to 4000. Jim
 
You are too low if you can find one in that shape it will be closer to 5000 unless you find some one sleeping and according to some posts here it does happen as the prices they pay for a tractor. Everyone says i can get one cheap but they always seem to be 1000 mi away.
 
Yes some of the lesser known tractors in good condition bring more than a person might think. I bid on a 340U at an auction near Kansas City earlier this summer. I was hoping for less but was willing to pay $3500 for it, possibly $4000. It went for something like $4500, who knows how much more if I hadn't have bailed out.
 
I can only speak from my own personal experience. I paid 3750 for my 240 Farmall and that was 7 or 8 years ago.It was a 1 owner tractor that had only 525 hours on it and was a real creampuff.The 240 never spent a day on a farm(was used for pushing snow and plowing their garden) and was in excellent condition.I felt at the time that I got a good deal and that was verified months after I bought it , while at the Red Power Roundup in Mt Pleasant, a gentleman offered me 6000 for it and he pulled out a big wad of cash just to show he was serious. Like a dummy, I said no(guess I like tractors more than money) but he gave me his name in case I changed my mind.While these tractors will never be as sought after as MTA`s,1206`s and the like, they are getting harder to find in as nice a condition as yours and the nice ones WILL bring good money.
 
It sounds like I put to much money in this tractor. For the past 27 years I've used it mostly to drill fence post holes (because of the downdraft) and some with a finishing mower. I turned down 3,500 more than once before I started restoring it(ran good and in fair condition). Now that I've spent 6,000 on it, I haven't had the heart to put it to work.
 
The tractor will love you for putting it in use.
Think of what that money would not buy on a new compact tractor from a good company (not an imitation) It might make the down payment, then you would be paying each month. Use it I say. Jim
 
(quoted from post at 20:18:43 11/27/10) The tractor will love you for putting it in use.
Think of what that money would not buy on a new compact tractor from a good company (not an imitation) It might make the down payment, then you would be paying each month. Use it I say. Jim
Click to expand...

I agree. $6,000 is NOT too much to invest in a tractor that will be put to work. It is only too much if you planned on selling and making a profit.
 
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