Buying Used Equipment

Vicinalvictor · Dec 20, 2019

Perhaps buying from a Farm Auction might be an exception, however Consignment Auctions, or Online Auctions could become venues for stolen equipment, especially tractors or UTV's. Just curious if there is any protection for the buyer(s), and who assumes the responsibility if something purchased is stolen? Is buying new/used from a Dealership, or 0 percent financing a better option? Your thoughts or opinions.

Ray IN · Dec 20, 2019

That's an excellent question I just thought about the other day. Don't know the answer, but I was just talking to a guy who buys, fixes up, then resells a lot of 30 and 40 series John Deeres. He said they never buy from a consignment auction as that's where people unload things with problems. Makes sense to me.

M Nut · Dec 20, 2019

I never shop at consignment sales for machinery, unless I know the owner consigning, and the history of the machine. Sometimes a friend or neighbor will consign an extra piece they have, then I'll consider. But, as mentioned, usually a dumping ground for problems in my experience.

dhermesc · Dec 20, 2019

If you are buying from a consignment auction you should only be looking at newer equipment. Real "BTO" buy equipment units and run them for a specified period then sell them - usually with some good use left in them. Or its lease equipment that has seen a year or two of use and being sold to keep the dealer's lot from overflowing. Buying older stuff - it all tends to be cr@p with issues that the owner doesn't want connected with his name if he sold it privately. Occasionally you'll run across some older stuff that isn't bad - retirement or estate equipment being sold at consignment because they didn't want an auction on their own farm.

ADB-Ia · Dec 20, 2019

I have an upcoming online auction scheduled with BigIron and speaking from my experience with them - there is very little chance of being snookered on one of their auctions. They have plenty of safeguards in place to protect both the buyer and seller. IE all serial numbers are recorded and checked out; All sales have to be scheduled well in advance - you can't just call and sell something tomorrow - the listing is up for two weeks so there is plenty of time for the buyer to check it out; There are extreme penalties for shill bidding, etc. Even if a family member wants to bid on something, they have to prearrange with BigIron giving their maximum bid and the company manages that bid to prohibit shenanigans. I'd be wary of the self listed sites like facebook and ebay but I think the bigger auction services are pretty reliable. Their reputation is at stake.

Traditional Farmer · Dec 20, 2019

Some of my absolute best bargains on tractors and equipment have been from consignment sales.No different from buying anywhere else where you don't get a guarantee
just have to be able to be able to make a good judgement on its condition.A lot of consignment items come from dealers that don't want the hassle of selling older tractors and equipment.Like a new tractor dealer told me that I buy trade in tractors from sometimes,he said a person will come in and buy a 30 year old tractor and expect him to stand behind it like a new one.

Jimmydog · Dec 20, 2019

Vincinal, kind of along the same theme, and what about buying a tractor without a serial number??? I see serial number UNKOWN quite often. Sometimes they'll show a picture of the plate with the numbers unreadable, but so what does that prove? You had a peening hammer and a couple of unobserved minutes? No different to me than if the tag was missing entirely. Peening hammer or grinder? Decisions decisions. Be interested in what the good folks on here have to say about that? would you by a tractor missing it's serial number? I mean they DO seem to sell CHEAPER!

JD

Traditional Farmer · Dec 20, 2019

In Virginia once the equipment goes thru an auction the liability is on the auctioneer/auction company this protects the buyer.Buying private if the equipment that is sold has a registered lien against it the buyer has no protection and they will have to give up the equipment with no recourse except to sue who they bought it from.

Bruce from Can. · Dec 20, 2019

There is such a wide range of answers to this question. If you are looking to buy used equipment, it is very clear that the equipment is just as good as a new unit if you are looking at say a gravity wagon, or a grain auger. Not so easy to judge a tractor or even a round baler. Round balers can look great, but be worn out. Same can be said about tractors. My rule is simple, how much am I going to depend on the equipment I am looking to buy. Also if you are going to buy a big ticket item like a tractor, and will need to borrow money to make the purchase. Then you might just as well buy new at 0% interest or whatever low rate financing your dealer is offering on new equipment, as buy used equipment and pay 3-4% interest, and also get no guarantee. I like new stuff, but I also like a good deal on serviceable used equipment too. I just never want to be the last owner.

Michael Soldan · Dec 20, 2019

I bought a Massey haybine from a dealer. He had two exactly the same. He put a tractor on each one and let them run. He felt that one stood out as the better , tighter unit. Very reputable dealer. I took it and couldn't have been happier. It runs like a new unit. I replaced one tire a few years later and a drive belt. I bought two large hopper wagons from another dealer , cleaned and greased all the wheel bearings and good luck with them as well. Bought two Farmall H's from private sellers and great luck as well. I'm sure there are horror stories buying used. I always expect that there will be some maintenance to do on any used machinery, maybe a bearing or a belt. Never bought at consignment other than a cement mixer which turned out fine. Today is different than 20 years ago where you could trust what you were looking at.

Vicinalvictor · Dec 20, 2019

That's another good point about buying used equipment other than at a reputable Auction Company or Dealership. There could be a LIEN on it.

Traditional Farmer · Dec 20, 2019

As the insurance ad on TV says three things to consider when buying,Price,Price and most important Price.I buy so I can see my way clear on something no matter how it turns out.These days there is so much used equipment on the market just wait for a bargain.And never wait until you need something to buy it.

Vicinalvictor · Dec 20, 2019

Years ago I would buy stuff at Consignment Auctions and never think twice about it. Nowadays I'm not so sure, especially in
these unpredictable financial times for Farmers. There could be LIEN(s) on equipment. Like others have said, it's important to have a reputable Auction Company, and they should not accept high dollar equipment without a serial number or plate.

Texasmark1 · Dec 20, 2019

In Texas, if stolen property, the monkey is on your back! On Titled equipment, a quick check with DOT in Austin, Tx. will tell you if a title is valid and if there are any outstanding leins on it as to get the loan you have to surrender the title to the lending institution who put their name on it as the payee and send it back to Austin. Understand that reputable selling establishments have a responsibility to the customer but..........

Northvale PA · Dec 20, 2019

I bought 1 tractor at a consignment auction. The rest, private sales or dealers where I could look them over well. Bought plenty of equipment at auctions too. I look things over well and normally only buy a model I know to begin with. Yes, I have purchased some problems I couldn?t see but overall, I have been happy with the purchases an prices. Including a few real bargains.

Leroy · Dec 21, 2019

Consignment sales around me don't have the type of machinery you are woring about. Never anything that new to be worth steeling or carry a lein.

Buying Used Equipment

Vicinalvictor

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Ray IN

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M Nut

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dhermesc

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ADB-Ia

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Traditional Farmer

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Jimmydog

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Traditional Farmer

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Bruce from Can.

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Michael Soldan

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Vicinalvictor

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Traditional Farmer

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Vicinalvictor

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Texasmark1

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Northvale PA

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Leroy

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