Making money in restorations?

Anonymous-0 · Mar 2, 2012

If you ever got really good at restoring Farmalls, could you ever actually make money at it?

I'm not talking getting rich, but at least covering costs and actually getting a little return on investment?

Jason the Red · Mar 2, 2012

rustyfarmall · Mar 2, 2012

Anonymous-0 · Mar 2, 2012

The reason that I ask is I have done several projects and would like to do more, but don't actually have a use for the machines. Never tried to sell any of them so don't know what that end of it brings...

Don't want to lose money at it... but I suppose that's what most hobbies end up amounting to.

sflem849 · Mar 2, 2012

SMDTA, SMDVTA, SMVTA or no.

dhermesc · Mar 2, 2012

Only if people are paying you to restore a tractor for them.

Dean Olson · Mar 2, 2012

Contracting restorations of other peoples tractor I would say yes. Buying tractors restoring them and selling them NO. I know of no one making a living full time doing restorations. I do know several part timers/retired folks. Not sure how much they are making but they seem content.

Anonymous-0 · Mar 2, 2012

I have a friend who restores tractors for customers full time and makes a very good living at it.he is located in central Iowa,he has restored them for people as far away as California and Canada.he was featured on classic tractors on the RFD. Channel.he started out part time at home and the dealership where he worked closed,so he started restoring full time and hasn't regretted it.

Yooper Farmall · Mar 2, 2012

I need to add all my recent receipts to my tractor spreedsheet, but I am hoping when I finish my tractor, if I don't account for my labor time, that my tractor will be worth at least half of what I've spent on it

Luckily I am restoring it for a lifetime of use, then to pass onto my son, so when I amortise the expenses over the course of a couple lifetimes, it'll be worth it. After growing up working on farms, I think the only thing worse that putting money into a tractor would be to raise my kids not knowing how to drive or appreicate one.

David G · Mar 2, 2012

JRSutton · Mar 2, 2012

The only way you could really make any money is by shopping hard for fantastic deals on tractors that need very little work/parts.

Put a quick shine on them, then be a good enough salesman to sell them for a lot of money.

What you'd be minimizing is the labor and parts in between buying it and selling it - but it sounds like THAT'S the part you LIKE doing.

In fact, you'd make the most money by doing nothing, just buy cheap from one person, sell for more to another without doing anything in between.

Volume is your enemy - there just isn't much. Even if you were lucky and made $1000 per tractor (and you won't), how many would you have to move in a year to make it worthwhile?

Even if you COULD move one every week you'd run out of cheap tractors to buy within a few months, AND run out of nearby customers.

You'd have to start driving further, raising your costs, and your customers would have to drive further to get to you lowering their buying power. You'd be in negative territory before you know it.

I agree with others - if you want to make any money at it at all - have others pay you to restore their tractors. Skilled labor is always worth something.

WOpp · Mar 2, 2012

I have bought tractors with intent to sell,spent money fixing small details etc. I have learned the hard way, The more you repair the less you make.. The ones that have made me the most are the ones I don"t lay a wrench on.

Faster346 · Mar 2, 2012

I've bought and sold 4 Farmalls now, all that I've made money on. 3 I did a paint job on, one I did literally nothing with other than re list forsale for 1,000 more. Just have to look for the deals daily if you're looking to make money off them.

Charlie M · Mar 2, 2012

My latest project is a good example - I will have $2600 into my A which mechanically will be all fixed but without paint for a tractor maybe worth $1500 to sell.However I will make up the difference with the enjoyment I will get while using it. Yes I'm not too bright but I am having fun at being stupid.

larryanderson · Mar 2, 2012

The problem is most people dont understand the time and amount of work required to fully restore a tractor.To me anything less than a good job is a waste of time.There are people that will pay whatever it takes and be happy and others that no matter how good they want it cheaper and better.I sell many several tractors and usually sell them just like I buy them.Your profit is made buying not selling.

GeneMO · Mar 2, 2012

Several have said that the money is made in the buying.

There may be another route.

If you can convince politicians, lawyers, wall street brokers, soccer moms and tons of city people with money, that the best thing since sliced bread is a restored Farmall, then you can make a killing.

If you can't get that market, then forget it, you're screwed.

Gene

ss55 · Mar 2, 2012

For collectable cars most buyers would rather make their own repairs. Collectable tractors may be the same.

The rule of thumb on collectable cars is: Any repairs you make are lucky to return the price of the parts, you get nothing back for the labor.

KerryM · Mar 2, 2012

I'd like to talk to this guy. Care to share his info?

mike paulson · Mar 2, 2012

if your looking at making a living from tractor restoration your making a very poor career choice. if you live in the right area you could possible make some money at tractor repair doing clutches, hydro work, engine work etc but even that is gonna be tough because most tractor guy's will do it themselves even if they dont know what they are doing and if it dont work they park it behind a barn for 20 years.
sell your old tractors for what you can get for em.

BoonvilleKid · Mar 2, 2012

Can we get a name and phone number of your friend in Iowa?

960 · Mar 3, 2012

As other posts no unless you are the best of the best, a true professional restoration shop working for those who can afford to have way more in the item than it is worth.

Anonymous-0 · Mar 3, 2012

Dad and Grand-Dad ran a garage for 50 years, mostly specializing in IH and Farmall stuff. Some time after Grand-Dad died, a distant cousin on Grand-dad's side of the family had a Farmall B he wanted "restored." He told us the engine had been running 6 months previously, but when we picked it up, the engine was stuck tighter than a bull's a** at fly time. We tried the simple stuff to try to break the engine loose, but figured out quickly it wasn't gonna work. Finally we pulled the head and the pan, and found where the #2 piston rod was almost horseshoe-shaped by the efforts of the LAST guy who tried to break the engine loose. We finally had to drive that one out.

When we got to the carb, we knew there was no way this engine had run in the shape it was in; the ignoramus who had it apart last had "forgotten" to put the venturi back in the carburetor.

After the ordeal, we got the tractor up and running, refreshed and painted for the local show that the cousin had given us as a deadline. Since he WAS a cousin, Dad and I cut him break on the labor [which was probably too cheap to begin with]. To reward us for our efforts, he stiffed us on the entire bill.

Expect that as the norm, if you plan to do restorations. I mean, if it's gonna come out of your own pocket anyway, you may as well own the tractors you restore to begin with.

Anonymous-0 · Mar 3, 2012

Dad and Grand-Dad ran a garage for 50 years, mostly specializing in IH and Farmall stuff. Some time after Grand-Dad died, a distant cousin on Grand-dad's side of the family had a Farmall B he wanted "restored." He told us the engine had been running 6 months previously, but when we picked it up, the engine was stuck tighter than a bull's a** at fly time. We tried the simple stuff to try to break the engine loose, but figured out quickly it wasn't gonna work. Finally we pulled the head and the pan, and found where the #2 piston rod was almost horseshoe-shaped by the efforts of the LAST guy who tried to break the engine loose. We finally had to drive that one out.

When we got to the carb, we knew there was no way this engine had run in the shape it was in; the ignoramus who had it apart last had "forgotten" to put the venturi back in the carburetor.

After the ordeal, we got the tractor up and running, refreshed and painted for the local show that the cousin had given us as a deadline. Since he WAS a cousin, Dad and I cut him break on the labor [which was probably too cheap to begin with]. To reward us for our efforts, he stiffed us on the entire bill.

Expect that as the norm, if you plan to do restorations. I mean, if it's gonna come out of your own pocket anyway, you may as well own the tractors you restore to begin with.

oldtanker · Mar 3, 2012

Basically you have to have a tractor or 2 that you have restored yourself and are show winners, big show winners. If you can get coverage on RFD or one of the antique tractor rags even better. Then if you advertize at first you can do it if the customer owns the tractor and is paying parts and labor at a rate high enough to keep the lights/heat on, pay the taxes and yourself......unless you are going to seek out the really rare birds and just do them. Then maybe you could make some money. As someone else said you would make more money buying cheap, non running tractors and parting em out.

Rick

larryanderson · Mar 4, 2012

It is similar to local farmer who made a million dollars racing cars of course his budget was two million.

Making money in restorations?

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