For Giggles. Starting a collection

Dalet

Member
When I watch Pawnstars and shows like that they say the collector market is in the dumps. I know much of the economy is in the dumps, but collectors always have money and buy.

Lets just say someone has a business that would buy the rarest of the rare.
70 4020 powershift with FWA.
Minneapolis 35-70 with all the fixins.
A few good steamers of various brands.
When the real rare items sell at auction, they bring some good money even today. If you advertised them and sold them retail they could bring MUCH more.

Do you think there are really enough clients to support that type of business?
The items would be rare, not always in mint condition, so there would be something for everyone, (if you are a collector.)

It would kind of be a museum of sorts maybe. Think it has merit?
 
As I see it, There is a market out there But the hard part is finding the rite person to buy what ever you are selling.
No matter what you have, someone out there wants to buy it.
 
I have a MH44 worth about $2500 that I have $8000 in, it
will take a LONG time for the market to catch up to that.
 
14 years ago Dad said I had rocks in my head for buying a 49' JD M. I rebuilt the engine and rewired it. Total cost was $2,200. Dad thought I was nuts. Then I converted it to 3 PTH and bought a used Woods RM59 mower for it. I've mowed 4 acres of my property every week for 6 years with it and added a backblade, a stone rake, posthole drill, 4' disk harrow and single shank ripper. and new rear tires. All told I have about $3,000 invested. There's no $3,000 Imron paint job, no replacing of every bearing in the transmission and I bought some cheap naugahyde at Walmart and redid the seat. Likely this will run me the rest of my life and then the kids can sell it with all the toys and it will likely bring about what I have invested. "Collectors" have really lost sight of what this hobby is all about. I still have less invested than what the cheapest zero-turn mower would cost new and can get many times the amount of work out of it. And most likely it will still be hammering away when next year's crop of new mowers hit the scrap heap. How's that for value?
 
and from what i have seen its a slop job restoration with big asking money. if its a complete professional job yes you neeed to ask big money, but some people just dont get it.
 
Dalet,I Think you just touched on a importain fact,Its collectors like your talking about that takes the fun out of this hobby,its not about money,its about restoring history and living out your past.I have a collection of junk that Ill never get even part of my money back.
I love old tractors,and there history,and I cant stand to see them go to the scrap yard.I never buy a tractor thats running,but always ones thats in fence rows locked up.
Its memory lane, remenbering helping my father farm and work on his wore out tractors,and being kicked by the crank handle when I was just a boy
Its the feeling of hearing a motor start for the first time in 30-40 years after some poor farmer gave up on it or actually died and left it behind
I collect mostly old IH F series and McCormick Deering tractors that will never be worth much and none of my family has any intrest in them,one day when Im to old or even die I hope some one will stop by and just give them a better home than I have

jimmy
 
Hard to sell on your own and get top dollar. People usually are paying top dollar at auctions.
 
you have to remember ,theres different kinds of collectors. a real, true, died in the wool collector is someone who only wants the very best and rarest of whatever they collect.they want and are only interested in these, know more about whatever it is than 99.9% of the folks here and any flaw can be a deal breaker. most folks who sell to them,very seldom even touch what they are selling,they broker deals between two collectors and their main buisness line is simply knowing who owns what.
then theres the folks who decide they want to collect say a certain brand of whatever.these folks generaly are the ones who want to have every tractor made of a certain brand,type whatever.they will often buy three or four of one tractor use the parts off them to make one out of original used parts. this of course,makes a rare tractor sometimes,but its worthless to the collectors above simply because its not STRICTLY original.its a hogpodge of several tractors put together to make a certain type or model of tractor.these are quite often the ones you see on tv having 100-200 tractors or whatever. these folks often spend a lot of money filling out a collection,and are the ones youll see buying tractors at the well publicized auctions.they dont mind buying junk,because often they are looking for one certain part.
then theres folks who buy them just because they like them.they often dont even make them run.they simply want to own them. they often quote the old cliche that they are a part of history or they are saving them.( which is good i'm not saying it isnt) but often they just let them sit.they might if they are really smart sell parts to the folks above, and scrap the remains,but they generaly wind up simply having lots of tractors in bad shape simply rusting away. lets face it guys,honestly and truly,each old wd,9n,whatever, that goes to scrap actually increases the price of those remaining! and the scrappers are the bread and butter folks of the collecting world!! they like old tractors and things ,but they also realize that one running is worth 10 rusted hulks.
then theres those like a lot of us here.in fact the largest percentage of us here.those are the folks who collect for sentimental reasons.very very often we spend more on one of these old machines than they could ever be worth.buy whatever parts we can get to keep them running,paint them, ruin that paint by tearing them down again when another part fails,very often simply use one because we have a mistaken belief that we are saving money. fact is the cheapest tractor to operate is simply the biggest,highest hp one , that you can get thru your gates! regardless of brand or year of manufacture. but we run them because we had one on the farm as a kid,or like the looks of them, or simply find one for a cheap price. these ,and I'll admit im one,are the ones youll most likely be selling to most.to sell to them and make a really successful time of it,youll have to remember two things. one ,the better they LOOK the better they SELL! every single time bar none.so that means youll have to doll them up.the so called acrylic overhaul if you will. then for the most part youll have to know the simple things that some neophyte will check. take a 9n for instance , it would have to start and run quietly,even though it may need a carb,radiator,have bad wiring etc etc. the lift would have to move up and down,even though the pto bearing retainer is bad and the salesman knows it wont run anything doesnt matter it simply has to move. in other words all you have to do is make it LOOK GOOD. you cant fix all these things and make money,what you do is sell it,then charge the new owners to repair it.
one thing that drives the market is sentiment,you cant put a price on sentiment,this keeps this old tractor buisness going.folks will spend money they dont have for sentiment,and cling to that purchase beyond all normal reason.
 
Well, I probably don't have a large enough budget, but may start out slowly and go from there.
I have a few unique items that I could sell and would be able to finance about 250k to start off with.
The cash flow would be slow in the beginning, but there is an old empty implement dealer nearby that could be leased for a reasonable price.

The hard part will be scouring the Midwest to find the inventory of items that are different than everyone else has sitting around. But then some of the common tractors and such would move fairly quickly so that would help the cash flow.
The real old unique items would probably be sold in the same shape as acquired unless the buyer wants something done to it, and they pay a deposit on the item and the estimated labor.
 
You want to do something more along the lines of the show "Fast n Loud" on discovery where they flip cars.

I think it's called Fast n Loud because that's how the show's main characters talk. It's about as real of a reality show as you can get these days though, and kinda cool because sometimes they lose their a$$es on cars.
 
my advice,and im not anything near an expert though i picked auctions for several years buying and selling old collectables, would be to look at what old tractors there are sitting around in those fence rows and things. When you do youll most likely find that they are primarily one or two brands. The reason for this is simply because at one time there was a good dealer nearby. Those are the tractors you want on a lot. Just for the simple reason that youll sell more to those guys in your area for sentimental reasons than any other. IF your going stricly after the rarest of the rare,or the big ticket items,dont mess with a lot. Spend your money hitting those places where your customers are ,like big tractor shows,auctions etc. Make you a good list of your inventory,take really good pictures,set you up a booth,etc whatever it takes to get your name and number out there where that one guy will see it. Keep your inventory close to home,and out of sight of theives vandals etc. You would be amazed at how word travels through the collector world. Pickers,brokers etc all sort of get connected somehow (the successfull ones anyway) they may not ever meet face to face , but they know whos looking for what through the grapevine ,and your goal is to get in on that loop. IF your planning on reselling big ticket items,your goal is to either have a buyer beforehand,or in the best case simply broker the deal and let the purchaser handle the moving etc. You get word someone wants such and such a thing,if you know where one is setting you can make more money selling it right there. My opinion of course. Funny thing about old iron,it doesnt rust anymore sitting in a fence line than it does on a lot. Unless your planning on fixing one and then selling of course.
 
The rare of the rare.....well you may have an idea there....only time will tell if it's good or bad.

Before I'd drop 250K on an idea I think I would go with collector tractors which is all the old stuff. Buy cheap, put in on the lot at a realistic resale and as was stated take a deposit to repair or sell as is.

With the Holiday season coming up now would be a god time to get set and start buying. Folks with old tractors in the wood line will be more willing to deal as the big day draws closer. As you can pick up the rare of the rare.

You may find yourself with a mechanic or 2 on the payroll in short order. But you could wind up broke too.

Rick
 
knew a old guy once who was the most succesful pickers i ever met. He literally had a warehouse three stories high and a full square city block crammed full in every nook and cranny of stuff from all over the world, every thing you could imagine was there somewhere. He told me something i never forgot when i met him. When i walked in he asked if he could help me and i said i was just browsing to see if he had something i needed. His answer was "I dont sell one single thing people NEED, but if you WANT it its probably here". That in a nutshell is the difference between a collector and a consumer. All you have to do to make a deal like this work,is find the person with the right WANTS!
 
When someone asked me or tells me what I need, I Say I'm 54 and I have all I need. From here on out it's all about want. :)
 
I agree Rusty!
I am 43 and thinking of making a career change and start doing what I want rather than what I have to for someone else.

It also seems to me that businesses that cater to peoples wants have an easier time in a recession than places that sell needs.
 

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