Re: 3-pt hitch for a Farmall M

Posted by Steve - IN on March 01, 2003 at 21:53:44 from (12.222.18.37):

In Reply to: 3-pt hitch for a Farmall M posted by Larry Brede on March 01, 2003 at 17:59:05:

Larry,

Depends on whether you're collecting or using.

I have a H, but pricing on M's is about the same. The parts, if sold individually, seem to be worth more than value of the tractor; if they're original. I recently sold a battery box and lid for my H for about 12% of the price I paid for the whole tractor. Goofy, huh? Yet original red tractors seem to be worth less than green tractors of comparable size and age. It's a paradox that's not easily explained, and in a vague way it's got a lot to do with varying perceptions of supply/demand and value. Collector markets are probably always that way - Van Gogh couldn't sell a painting while he was alive, and yet no one has ever paid more for any painting than for a Van Gogh. Go figure.

If you're going to use it, the choice is easy. Get the 3pt. I've got a Saginaw on a '54 JD: it's better than anything JD made for that machine, and it gives that tractor a lot of usefulness that it wouldn't have with just the original draw bar. But for a Farmall, a Saginaw is 20 to 50 per cent of the value you might expect to pay for a H or M. If you can get an M in decent shape for 1.0 to 2 kilo bucks WITH a 300 to 700 dollar Saginaw or Worksaver 3pt thrown in for free - go for it - assuming you're really going to use the tractor.

I bought an H because it was the first tractor I learned to drive 40-50 years ago. Bought a JD 60 because it was the 2nd tractor. Love them both, and don't expect to ever make any money on them.

There's another fly in the ointment for Farmall collectors. Case/IH has announced they're selling a new line of utility tractors under the Farmall name. All made in the Orient. Will this increase or decrease the value of real Farmalls? Time will tell. Farmalls were #1 in the 50's, yet same year JD's sell for more now. Are you going to speculate - do you know how the markets will respond?

I think if collecting tractors for monetary gain is you goal - don't. The S&P500 is about 30% below historical averages now. Bond yields are terrible. Buy SPYders, or maybe real estate instead of tractors. But if having one of these old guys to use and to fix and keep and cherish is what you want to do - you'll spend more than you'll ever get back - and you'll be much happier for the experience of fixing then plowing or haying or doing most anything with that old tractor that you've rebuilt yourself. That's the real payoff. It's a drain on your wallet - but a real boost for you soul.

Steve

Follow Ups:

• Re: Re: 3-pt hitch for a Farmall M Larry B 18:13:46 03/02/03 (1)
  • Re: Re: Re: 3-pt hitch for a Farmall M Steve - IN 18:55:33 03/02/03 (0)

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