O-Kay I went to my first farm machinery auction today and what an education in the economy did I receive!
The temp was 22 degrees and snow flurries were going east to west in a nice breeze that was zero at one minute and 10 or so knots at another. I was the best dressed person there in my Carhartt jeans, barn coat and Filson camo waterfowl hat. Stile-n! On the way there I received a 10 minute lecture from my neighbor on how I need to dress down for an auction. How did I know that there was a strategy for a simple auction [img]http://www.arrse.co.uk/at
The auction was supposed to start at 9:30 AM however it started at 10:30 AM...What ever.
I had my eye on a, 3 point, single bottom plow that was obviously reconditioned but looked brand spanken new. My accomplice was the farmer who lives across from the cabin. His purpose was to buy a 'hay baler' that his Massey Ferguson tractor could pull. He is having a problem with his New Holland hay baler and he figured it would be cheaper to buy a new (Used) one than get the old one fixed. You know it's better to have seven $100- cars than one $700- car. [img]http://www.arrse.co.uk/at
Well to the point of this post...My neighbor and I were SHOCKED at what the price things were going for. I don't mean low...But at the high end.
An old un-restored double bottom plow went for $275-! The single bottom plow I had my eye on went for $325- which was $125- more than what I was willing to pay for and what they were going for in TN. or GA. via Craig's list. A beat up 1960-65 Allis Chalmer tractor went for $2,600- (try buying parts for that baby). Pallets of misc. tractor parts were going for more than what the metal monger would pay.
Curious I started to talk to the buyers around me and asked why things were going for so high. I heard over and over again that they were, "buying parts" for when the economy took a dump. WOW!
So a word of caution...If folks are buying up tractors, accessories and parts at over inflated prices watch out. Farmers seem to have a good handle on which way the economy is going.
Just saying...
