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| Thank you all for the replies. Asking price is a big piece of it that I am trying to figure out, as well. I've been looking through TractorHouse and the asking prices are pretty high, about what we bought it for new 12 years ago, so I was hoping to get close to that, but I did an appraisal through IronSearch and it was 40% less than the asking prices I've seen, so that's concerning. I don't think I've heard of BigIron, but I like what I'm seeing on there. That may be a good route to consider! I've looked at AuctionTime before but I've really been disappointed with their listings. It seems like most of their listings are for equipment that has major issues, and the good stuff you see on there brings a lot less than it should. I perused BigIron just a bit last night and it looks like stuff there is bringing more like it should, and equipment on there looks much nicer, too.
It's one of those deals where we've had the tractor for a long time, 12 years now since we bought it new, and we keep our equipment in a premium condition, so if I'm going to let it go, I would kind of expect someone to pay a premium price for it. It's kinda funny how folks get offended by that, but it's my time and money that went into it, so I don't plan on giving it away, lol.
For those that use BigIron, how does the transportation work? I take it the buyer arranges for it? Can you set a reserve through them? I'm going to research asking prices a little more, and then I think I'll lightly advertise it online first, to test the waters. We do have a local consignment auction in a few weeks, and I can set a reserve in it (and stuff usually does pretty well there), but with COVID-19 I'm a little worried about the turnout. They've already delayed it once and the listing is tiny right now. BigIron looks to be doing pretty well right now, so I may try that, as well, if I can set a reserve for it. I've thought a little about dealer consignment, but it seems like those tend to sit for a while, and I don't really like leaving the tractor on their lot where I can't use it. I know you can take it home and still have it on consignment through most dealers, but then it's not there for buyers to look at, and a buyer can't do a trade in for it, so that really hurts, in my opinion.
We'll see what happens - I definitely appreciate the feedback. We are a very small farm so this would be a huge sale for us, so I just want to make sure we do it right and make the money we need to so that it doesn't hurt us. I know I won't be able to replace this tractor with a new one with the way prices have skyrocketed in the last few years, so I want to make sure we get our money back out of it and can be more financially sound moving forward. | |
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Selling a Tractor Privately
