We went to a sale on saturday of a farmer that as retiring there were so many hobby farmers there running up the prices on everything one was there and bought a NH 477 haybine very well used for $3500 it was no better the scrap another ran up the price on a 565 NH square baler everybody expected it to sell for may $ 6500 good shape it sold $14000 a MF165 gasser went $7500 to hobby farmer were bidding against each other just a few examples in was good for the man retirig but not for anyone else does anyone have this problem in their area?
- Thread starter yessam
- Start date
Seems to go hand in hand with the experience of the crowd.
I go to auctions with my amish friends in Ohio, and you almost never see anything going for more than it should. But they attend auctions the way other people watch sports - it's a popular pastime for them.
Auctions around here (Mass.) are much, much less frequent and often a novelty to most that attend them.
You very frequently see people get caught up in it - more determined to WIN than get a good deal. I've seen some CRAZY bidding around here.
I go to auctions with my amish friends in Ohio, and you almost never see anything going for more than it should. But they attend auctions the way other people watch sports - it's a popular pastime for them.
Auctions around here (Mass.) are much, much less frequent and often a novelty to most that attend them.
You very frequently see people get caught up in it - more determined to WIN than get a good deal. I've seen some CRAZY bidding around here.
Traditional Farmer
Well-known Member
- Location
- Virginia
Apparently there were at least 2 people there that the equipment was about worth to them what was paid.What a bunch of Lookers standing around at a sale think things are worth has no bearing on their actual value.Anyway I thought that the 'Real' Farmers were the ones making all the money farminmg so you fellows ought to easily outbid the so called 'Hobby' guys.Good for the seller and good for the buyers as the seller did good got a fair price and the buyers got what they wanted.Rest of the crowd was tire kickers just in the way.
ShadetreeRet
Well-known Member
Some folks tend to lose their sense of reason at an auction sale. Combine that with the situation you just described, a bunch of hobby farmers who have more dollars than they have sense and are ignorant of values in your area and everyone else might as well go home. I haven't been to a sale in about five years, don't need that much anymore. But around here folks used to go crazy over farm equipment. I am not going to pay $300.00 for a well worn piece of equipment when I can buy a new one for $400.00! But that's the way it would go. I picked up an old Gravely two wheel garden tractor at the last sale I attended for about $15.00 but I don't think anyone else knew what it was or they would have run the price up on it.
Traditional Farmer
Well-known Member
- Location
- Virginia
Auctions are held for two reasons 1)For the auctioneer to make a living and
2)So the seller can place their items on the open market to get the maximum price the market will bear.
Looks like this sale accomplished both goals.
Sales aren't held so Cheapskates can load up on bargains.
2)So the seller can place their items on the open market to get the maximum price the market will bear.
Looks like this sale accomplished both goals.
Sales aren't held so Cheapskates can load up on bargains.
I'm a hobby farmer and don't quite know how other hobby farmers can run up the price like that other than they look at the pirce of used vs new and think its a great bargin. Maybe they are doctors or lawyers where the money isn't an issue. I do all my farming with the older stuff that used to be pretty cheap until the scrap guys started buying everything. I try to get my operation to at least break even so its not taking money from other areas (and getting grief from the wife for spending the money).
I don't go to auctions unless it's one of the neighbors here close, and then it's more of a social event for me. One that I went to a few years ago had a stack of cut up hog panels. I was mildly interested in them, but when the auctioneer started them, two guys fought them up to $16 apiece. One guy wanted the whole stack. This was when you could buy a brand new one that a hog had never looked thru for $14. Then I was astonished when they counted the pieces and figured it $16 per piece. It made some of those old rusty panels, if they hadn't been cut, worth $32. Looks like if a guy knew enough about a hog panel to want one, much less a whole stack, he'd have a vague idea of what a brand new one cost.
Nathan (SD)
Member
Its December. Everyone wants to spend some money so they don't have to give it to the IRS. July and August are the best times to buy at auctions. Most guys got their loans max-ed out with crop inputs and aint sure what the crop will be yet.
Larry NEIL
Well-known Member
Traditional Farmer has it right. Been to many sales where guys that should kn ow better bid stuff right up to new prices. One in particular I remember from tghe 70's. Went for a Kewanee 18' 3 pnt. FC. Never been used, and never had shoes bolted on yet. I price a new one at a dealer in S. Wi. for $2450.00 including tax, shoes AND delivery to my place. The high temp for the day was -10 below and there were 16 people at the sale, including the auctioneer and his helper. Three of ujs came for the FC. It sold for $2550.00 to a fella from Wi. who lived not 10 miles from the dealer I got the price from. He told me at that time that He farmed 1300 acres.
I second Traditional farmers comments. The value of anything at an auction is determined by the two people who want it the most. As a seller that is exactly what I want. If this was your auction, would you have stopped it at the price you thought was fair and gave it to the seller? I bet no.
When I am a bidder, I bid up to my max. price, if I get it good, if not, someone else owns it.
I hear lots of people complain at auctions of a tractor that sold for $5000 and they only wanted to pay $2500, or they saw one down the road for $2200. Well instead of complaining, you should have bought the one for down the road for $2200.
To answer your last line, yes I do see some of this at our local auctions, BUT, every item is worth what the highest bidder pays, not what all the spectators drinking coffee sitting on the seat of their childhood tractor reliving their youth think.
Favorite quote I hear a lot after a Cub, 8N or similar tractor sells in the $1000 price range... "My dad paid way less in 1948 when he bought one of those used". Sorry there has been just a little inflation in the last 65 years.
When I am a bidder, I bid up to my max. price, if I get it good, if not, someone else owns it.
I hear lots of people complain at auctions of a tractor that sold for $5000 and they only wanted to pay $2500, or they saw one down the road for $2200. Well instead of complaining, you should have bought the one for down the road for $2200.
To answer your last line, yes I do see some of this at our local auctions, BUT, every item is worth what the highest bidder pays, not what all the spectators drinking coffee sitting on the seat of their childhood tractor reliving their youth think.
Favorite quote I hear a lot after a Cub, 8N or similar tractor sells in the $1000 price range... "My dad paid way less in 1948 when he bought one of those used". Sorry there has been just a little inflation in the last 65 years.
You "real" farmers must being doing something wrong if the "hobby" farmers have all of the money. I love the entitlement attitude of an individual who thinks that everything should be artificially cheap for them. It tends to go hand in hand with one where everything they sell is worth a fortune. If you haven't figured it out by now most auctions are a waste of time which of course depends on how you value your time.
One of our county auctions we were selling two Dodge Caravans, both right
around 100,000 miles. One of the locals was there expecting he could buy a
van for around $1,500, I figured the Blue Book trade was around $2,200 I set
the reserve at trade + 10% (auctioneer's commission)so reserve was $2,420.
What the guy didn't know is there was a pilot car operator in the crowd
looking for more Caravans for his fleet. Both vans went for $3,000 and some
change, the pilot car guy bought one and one of my custodians the other. Mr
local drunk got pretty excited and verbally attacked me claiming I was
abusing the tax payers and I should be in jail and he was calling the
chairman of the county board and complaining about me (yes he did and yes the
chairman talked to me about it). Oh my custodian owned the van he bought for
about 3 months and sold it, at a profit, the folks that bought it are still
driving it 4 years later. I suppose I had it worse running the county sales
as some taxpayers felt the were owed a bargain "cause I pay taxes" I suspect
some of them were welfare cases that really didn't pay much taxes.
around 100,000 miles. One of the locals was there expecting he could buy a
van for around $1,500, I figured the Blue Book trade was around $2,200 I set
the reserve at trade + 10% (auctioneer's commission)so reserve was $2,420.
What the guy didn't know is there was a pilot car operator in the crowd
looking for more Caravans for his fleet. Both vans went for $3,000 and some
change, the pilot car guy bought one and one of my custodians the other. Mr
local drunk got pretty excited and verbally attacked me claiming I was
abusing the tax payers and I should be in jail and he was calling the
chairman of the county board and complaining about me (yes he did and yes the
chairman talked to me about it). Oh my custodian owned the van he bought for
about 3 months and sold it, at a profit, the folks that bought it are still
driving it 4 years later. I suppose I had it worse running the county sales
as some taxpayers felt the were owed a bargain "cause I pay taxes" I suspect
some of them were welfare cases that really didn't pay much taxes.
Anonymous-0
Well-known Member
I hate the term "weekend warrior " and "hobby farm". 100
acres and a full time job isn't a cake walk. And to answer the
question, nope. Didn't know only "real" farmers were aloud.
acres and a full time job isn't a cake walk. And to answer the
question, nope. Didn't know only "real" farmers were aloud.
WE have a lot of hobby farmers in the area plus a bunch of folks with 5-10-15 acres of "recreational land" (hunting). Over the past years many of the small older tractors and implements went very high, much higher than local sale prices, at auction. Over the last 18 months or so the market has died. Most of these folks have good jobs in the twin cities area and were spending money like mad. Now they are being a lot more careful. One of these guys I know. He was going to hay his 40 acres himself. Got a 930 Case (very nice condition), a NH baler, wagon, plow, disk and haybine. That was about 3 years ago. The tractor and baler sit in a shed, the rest ourside. He starts the tractor every couple of months but hasn't use it once. he's a retired mechanical engineer. He and his wife live in the cities and he gets up here for a weekend about once every 3 months.
Rick
Rick
I have to laugh at some auctions. When I started, Iwas a 'hobby' farmer helping a landscaper do some hay on his place with a 'real farmers' equipment. The 'real' farmer talked me into farming a few acres, which led me to buying a farm ten years later. I moved from 'hobby' to 'part-time'. Acreage increased, and I retired from the phone company, so I guess I graduated again to 'full-time'. As I built up a machinery inventory, I often used sales to find a usable piece of junk that would work for a few years, and fixed a lot of it. Most of it came from sales, too. I have seen a lot of smart folks over bid a real junker at sales, and I guess I did my share. It's all part of learning this business. It does make it harder at times for a young farmer trying to get started if the old stuff goes high, but that's sometimes the price. But it also makes you a smarter businessman because you learn when to quit and when to buy a bargain. The difference in price is some of the profit you want to make in the end. And as one becomes a 'real' farmer, he can sit back and chuckle at what he may have looked like 20 or 30 years ago. Nothing has really changed, but wisdom is a learning experiance. I'd say that most 'real' farmers are just really 'wise men'.
LOL ain't that the truth, at least here it is. Seems everyone owns firearms but very few have any idea what any of them are really worth. Private sales are the same here unless it's a widow selling off her husbands guns. Sometimes they think that old thing isn't worth much. I've seen guys trying to sell guns in poor condition for new or near new prices. I've yet to see a gun around here at auction go anywhere near "book"......always over by at least 50 for a .22 and up from there for bigger calibers. Saw a young guy, mid 20's buy a bolt 30.06 that was worth about 350 for 475 who was bragging to his buddies that he got a real deal......heck I bet he didn't even get kissed!
Rick
Tony in Mass.
Well-known Member
So? What's the dictionary definition of both? A freind of mine says hobby farmers are people who have 40 hour jobs. A 'real' farmer has a wife with a 40 hour job. Auctions are for thieves and BS artists. If you want to buy something, put an ad on craigslist. That's where the stuff in the auction will end up once the buyer realizes what he has brought home...
I took an old 3 section harrow and other stuff to a consignment sale last year(and it was JUNK).Food plot planters bid on it.First section $85.00 second section $85.00 third section $110.00.Got $15.00 for the bent evener.Had a 2 bottom Dearborn plow $400.00.7 foot lift disk $525.00.It all was worn out and all bought by food plotters.I love those kind of people.Been 2-3 years ago I watch a guy spend $18,500 on a 4020.When it fired up there was a white and blue tornado coming out of the stack.It also had a bent loader on it.I asked him if he farmed .He says no,I have some land that I want to mow and some trees to push out.Sales are fun and some times profitable.
I really like to watch horse people bid on small manure spreaders.
I took the old 30 acre sod farm we had and planted it all in hay.I custom some hay work for people and help my son's future father in law with cows and around 700 acres of grain and hay.Does that make me a farmer.No.I enjoy staying busy.I got time now that I'm retired.
I take stuff to the sale to make money.The people that don't have a clue and alot of money make the best buyers.
I really like to watch horse people bid on small manure spreaders.
I took the old 30 acre sod farm we had and planted it all in hay.I custom some hay work for people and help my son's future father in law with cows and around 700 acres of grain and hay.Does that make me a farmer.No.I enjoy staying busy.I got time now that I'm retired.
I take stuff to the sale to make money.The people that don't have a clue and alot of money make the best buyers.
super99
Well-known Member
About 20 years ago, I went to a local farm sale. The old guy had a 77 Oliver, faded paint, average tires, started and ran good, nothing special, just a good old well used tractor. I guessed it would bring $700 to $900, it sold for $2200. After the sale I heard some guys talking to the buyer. They said , you paid a pretty high price for that old tractor. The buyer answered, I have a nearly new Kubota that I take care of my acreage with. Sometimes I get stuck and have to go bother my neighbors to pull me out. Another new Kubota would have cost me over $12,000, so I just saved close to $10,000. How is that a bad deal? It's all in how you look at it. Chris
hobby farmers like any thing else comes in
different breeds
i've seen similar things and i consider my self a
hobby farmer...but i'm not going to pay 50% more
for worn out equipment at a sale..the last deal i
got at a sale was a 3pt boom pole for 20 bucks only
because no one else bid
there are guys that have a day job and small farm
and treat it like a business and run it accordingly
there are other guys that have lots of money to
spend on a hobby farms and aren't running as a
business.
i agree with tony about craigs list as that's
usually where i go to buy things since i know the
price ahead of time and can go through the
equipment more.
different breeds
i've seen similar things and i consider my self a
hobby farmer...but i'm not going to pay 50% more
for worn out equipment at a sale..the last deal i
got at a sale was a 3pt boom pole for 20 bucks only
because no one else bid
there are guys that have a day job and small farm
and treat it like a business and run it accordingly
there are other guys that have lots of money to
spend on a hobby farms and aren't running as a
business.
i agree with tony about craigs list as that's
usually where i go to buy things since i know the
price ahead of time and can go through the
equipment more.
Winchester1
Member
- Location
- Vincennes, In
It just happens to be where you are. I went to an estate auction in Iowa about a month ago with about 75 tractors in average condition. Mostly hobby farmer type tractors, nearly all were John Deere tractors but most with gasoline engines (not many commercial farmers want gasoline).
Most everything went cheap, I regret not bidding on a Phase 1 420 that only sold for $1200. Did not get there in time to look it over.
The only tractor that sold high was a John Deere 730 Diesel with a narrow front, it brought either $8700 or $8750.
The owner passed a year or two ago, nearly all tractors needed new batteries and other maintenance work.
Most everything went cheap, I regret not bidding on a Phase 1 420 that only sold for $1200. Did not get there in time to look it over.
The only tractor that sold high was a John Deere 730 Diesel with a narrow front, it brought either $8700 or $8750.
The owner passed a year or two ago, nearly all tractors needed new batteries and other maintenance work.
Paul from MI
Well-known Member
I am a hobby farmer, hard to define 12 acres any other way. I have two objectives, #1-HAVE FUN; #2-Grow good crops; #3-Make a profit. None of these support paying high dollars for used equipment. I buy some at auction, some at private sales, but I don't pay much more than scrappers for anything. Then I start fixing it!
Seems it's the same way with farm land. These late 20 early 30 somethings have these highpaying pipeline, oilfield jobs making good money. So whe 40 acres comes up for sale they pay three times it's value and then after a year or five they divorce or realize they really don't have the time/need for forty acres so they sell. Then the next guy comes along and pays a high price and the cycle repeats itself. The local, established folks are left on the sidelines.
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