Auction sale resalts..IH 7488

Anonymous-0 · Oct 9, 2013

Just got Home from a farm auction..
7488 IH farm fresh,,Been used for field work ..not abused but worked
Guss how much $$$$$$$$$..
Will come back on later tonight with price...Gotta go back out for a bit
NW North Dakota
Just thot it was perty cool and would let u guys know

Larry B. 1486 · Oct 9, 2013

My Guess would be $12,000.00

G1355 · Oct 9, 2013

Ill put my guess around 25,000 the 2+2s are kinda rare and
veryhard to find a nice one. Someday they will be really
valuable.

Robert Major · Oct 9, 2013

Hi
Thats the unusual snoopy 4WD Pivot steer isn"t it if my memories correct?.
I bet it made $30.000 or some stupid high figure.
not the 5 - $6000 a regular one would make round here in Manitoba, If it was mint condition.
Regards Robert

formerly ny bill · Oct 9, 2013

i'm guessing $52000. very few made.

1206SWMO · Oct 9, 2013

$65,000...This is a rare tractor...

Anonymous-0 · Oct 9, 2013

Hi..Im back
OK..Hang on
$71000.00
A guy from Fargo ND bot it over the phone.
I talked to the contending bidder.
Local farmer from a town called Grenora
Rather elderley...Trying to be kind here..lol
I under stand there was only 16 made and 7 or 8 left.
story i was told production halted when IH went on strike and never resumed..
But maybe u guys may know more about it..

G1355 · Oct 9, 2013

Theres a lot of pictures of them on google. But i dont know how many were made. Sounds like the guy who bought it must of wanted it.

Formerly PaMike · Oct 9, 2013

There is some big IH collector in Fargo. I dont remember all the details but I think he has/had a bunch of the older IH tractors with the Elwood mechanical front axle under them.

Anonymous-0 · Oct 9, 2013

(quoted from post at 18:19:07 10/09/13) There is some big IH collector in Fargo. I dont remember all the details but I think he has/had a bunch of the older IH tractors with the Elwood mechanical front axle under them.

Sounds like it could possibly be the guy..
Forgot to say earlier that the other guy was saying he wished he had gone to 80 thousand...but who knows
Ya gotta stop some ware i Guss :roll: :roll: :roll:

Robert Major · Oct 9, 2013

Hi
The big problem with selling these tractors for this stupid money in auction, is how much the original owner gets to keep.
That 7488 was probably worth A big fat zero on his books. Now $71000 turns up, the government tax department now turns up and says thanks very much, and takes most of it.
A few guys round here sold out, Then found this out the hard way.
They should of just sold stuff private over a few years. By the time taxes where paid they had the same money left as stuff sold for in the classified adds.
Regards Robert

Owen Aaland · Oct 9, 2013

(quoted from post at 21:07:12 10/09/13) Hi..Im back
OK..Hang on
$71000.00
A guy from Fargo ND bot it over the phone.
I talked to the contending bidder.
Local farmer from a town called Grenora
Rather elderley...Trying to be kind here..lol
I under stand there was only 16 made and 7 or 8 left.
story i was told production halted when IH went on strike and never resumed..
But maybe u guys may know more about it..

These tractors were made after the early 80's strike. They never really got into production. Supposedly hand built rather than on the production line. They were different from the earlier 2+2 models in that they used the 50 series rear ends rather than the 86 series rear ends. They also used a heavier front axle. As for how many are left, I think they are all pretty much accounted for.

Anonymous-0 · Oct 9, 2013

These tractors were made after the early 80's strike. They never really got into production. Supposedly hand built rather than on the production line. They were different from the earlier 2+2 models in that they used the 50 series rear ends rather than the 86 series rear ends. They also used a heavier front axle. As for how many are left, I think they are all pretty much accounted for.[/quote]
I would say you are probably right about being hand a built as with only 16 being built it would be difficult to get an assembly line going...

Old-F20 · Oct 9, 2013

That's a pretty rare tractor and worth every penny of what it brought. anyone who owns a 'super 70' series IH knows what they have. 19 7288's were built, and only 16 of the bigger ones. those are pretty scarce production numbers

they aren't to be confused with the 3000 and 6000 series 2=2's either. quite a different machine

Anonymous-0 · Oct 9, 2013

if i'm not mistaken I thought the 63,65&6788 also had the 50 series rear end.

ss55 · Oct 10, 2013

The auctioneer takes 10% of the $71,000 or $7100 leaving $63,900.

What is the highest federal tax rate: 35%? ND maximum income tax rate is 4.86%. Absolute worst case the seller still keeps 60.14% of the remaining $63,900 or $38,429.46. Most likely the seller kept much more than that. I don't think he would have recieved anywhere close to that much on Craigs List.

60 acre hillside · Oct 10, 2013

You should not be taxed at same rate as income. It should be taxed as capital gain rate

DaninKansas · Oct 10, 2013

The government calls it recapture of depreciation and taxes it as normal income - the only capital gains would be if the tractor was bought new for less than $71,000. If there was much at this auction I'm the sure the guy also had to pay the extra medicare tax too.

mkirsch · Oct 10, 2013

(quoted from post at 19:56:11 10/09/13) if i'm not mistaken I thought the 63,65&6788 also had the 50 series rear end.

No, they still had the 86 series rear end.

They weren't much different than the 3X88 series of 2+2's.

The 7X88s are big with the big-time collectors. I'm surprised it only brought $71,000.

Bill in IL · Oct 10, 2013

The 6X88 series 2+2's had the 50 series rear ends or at least something resembling it. I have never been in a 50 series tractor but from pictures on the web they look very similar to the 6788 I used to run. I spent many hours in a 6788 and a 3588 2+2. The shifting was different the 3588 had 4 speeds the 6788 had 3 speeds plus the TA function (or considered powershift maybe in those years) on the speed shifter to make it 6. Not all trying to start a fight just pointing out that 30 some years after these were built the memories get mixed.

I never knew the 7000 series 2+2s exsisted till this post. I always thought the 2+2s were great tractors to run just wished they were bigger. Looks like they tried just happened at a bad time for IH.

Jon Hagen · Oct 10, 2013

No, not true, the 30 and 60 series 2+2 did not even have the 86 series planetary drive transaxles. They all used 66 series bull gear drive transaxles
I owned a 3788 for a few years and have the 30-60 series shop manual. It was a common misconception that the 2+2 tractors (30 and 60 series), had the 86 series planetary drive transaxles. I also thought so and repeated that myth a few times untill another poster corrected me on this bit of trivia. I did not believe him, so I got out the mservice manual to check.

Turns out he was correct, all the 30 and 60 series 2+2 tractors had the old 66 style bull gear transaxles, as is shown in the service manual.

The 33 and 3588,+ the 63 and 6588 had the 4 spd 66 series bull gear transaxle.
The 3788 and 6788 had the heavy 3 spd bull gear transaxle from the 1566.

oldtanker · Oct 10, 2013

(quoted from post at 10:26:32 10/10/13) No, not true, the 30 and 60 series 2+2 did not even have the 86 series planetary drive transaxles. They all used 66 series bull gear drive transaxles
I owned a 3788 for a few years and have the 30-60 series shop manual. It was a common misconception that the 2+2 tractors (30 and 60 series), had the 86 series planetary drive transaxles. I also thought so and repeated that myth a few times untill another poster corrected me on this bit of trivia. I did not believe him, so I got out the mservice manual to check.

Turns out he was correct, all the 30 and 60 series 2+2 tractors had the old 66 style bull gear transaxles, as is shown in the service manual.

The 33 and 3588,+ the 63 and 6588 had the 4 spd 66 series bull gear transaxle.
The 3788 and 6788 had the heavy 3 spd bull gear transaxle from the 1566.

I'm still trying to figure out why IH spent the time and money designing 2+2. I had just returned from my first tour of Germany where I had seen many MFA tractors for the first time to include JD and IH. I thought at the time that IH had wasted a bunch of money and the FWA was the future. My dad and I discussed it several times. I always though they were kinda ugly. There is an 2+2 for sale not far from me. I will not even stop to look at it.

Rick

Bill in IL · Oct 10, 2013

I will have to stand corrected by John Hagen. I know the cab internals of the 6788 was the same as the 50 series cab by picture comparisions and what I remember of them but never knew about the internals.

Bill in IL · Oct 10, 2013

You may not like the look but they have much better traction
than a FWA tractor. The cab is on the back half so you can
see the drawbar. I have always liked the design just wish they
were in the 300hp range like they tried to do with the last
series of it.

Jon Hagen · Oct 10, 2013

I agree Bill.

The 2+2 anteater had the engine moved about 4 ft forward and mounted on rubber, so it was much less noisy in the cab than your typical IH of the early 80's. In the space between the engine and transaxle, they had room for a large fuel tank, combine that with the rear tank and a 3788 would carry around 90-120 gallons of fuel IIRC.
The 2+2 had that heavy diesel engine set way in front of the front axle, so no need for a ton of suitcase weights like a FWA tractor needs for front traction. Also with the articulated steering, the front axle could have the same large diameter 20.8-38 tires as the rear axle, so they had great traction without adding a bunch of compaction creating weight.

oldtanker · Oct 10, 2013

OK the loyal IH fan crowd has been heard from. No disrespect intended. But they never sold well and the other companies countered with a much cheaper solution. FWA. Now with the farm economy about ready to tank and prices going up along with 15% or higher interest rates the 2+2 was in fact a ill conceived idea at best. I've known one guy who owned one and is now all JD because of that tractor. He milks 400 head. He isn't a minor concern like me. And I'm not really knocking the tractor. I'm knocking IH for such and abortion of a tractor when they could not afford a mistake and they were selling the FWA assist tractors in Europe with good sales.

Rick

Auction sale resalts..IH 7488

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