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Has this ever happened to you? |
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Randy(Mo)
Orange Level Joined: 13 Sep 2009 Location: Jefferson City Points: 521 |
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Posted: 18 Sep 2018 at 9:30am |
Dealership called me a week ago and said to call this guy he has a tractor that hasn't ran in a long time and some equipment that is sitting outside, we don't want it, you call him and see if you are interested. Called him, went to look at it, he had no idea what it was worth and didn't want nothing to do with it, it was on fatherinlaws property and all were passed away. Short story, made an offer because he knew some things were parked because of needing repair after talking he said well I know a guy 3 states away and I want to let him tell me what it is worth. The guy will never look at it and has no interest in it. Does that frustrate you when a person that has no interest in things and does not know local prices puts a figure on equipment. To me there are two prices, what a thing is worth and what someone will actually will give for it. What have you done is instances like that?
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Mo Allis Club member
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DrAllis
Orange Level Access Joined: 12 Sep 2009 Points: 19477 |
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Many years ago, I had been keeping an eye on a styled WC that was sitting in the weeds, but had good tires all the way around. One day I stopped and talked to the Widow lady and asked her if she would be interested in selling the tractor. She said yes, and I want $500 for it. I inquired as to how she came up with that dollar figure, and she said her brother-in-law told her that was what it was worth with those good tires. I agreed the tires were good, but they were beginning to show weathering from being outdoors for several years. My best offer was $100 and we parted ways with no hard feelings. Almost a year to the day, I stopped back and knocked on the door. She opened the door and I said " Do you remember me"? She said yes, and does the $100 offer still stand ?? I gave her the money and loaded the tractor later that afternoon. Be patient....he may have a change of heart down the road.
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Gary Burnett
Orange Level Access Joined: 11 Sep 2009 Location: Virginia Points: 2851 |
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Well you can't blame the guy for wanting to do more than just take the first offer that came a long especially since he has no idea of the value.He has to figure whether true or not the first offer is probably going to be low.Or he'll use your offer to judge other offers he gets either way he doesn't have anything to loose.
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HoughMade
Orange Level Joined: 22 Sep 2017 Location: Valparaiso, IN Points: 691 |
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When a person doesn't know what something is worth, it's pretty hard for them to trust the first offer by a stranger.
Makes sense to me.
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1951 B
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Fred in Pa
Orange Level Joined: 13 Sep 2009 Location: Hanover Pa. Points: 9096 |
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Your offer is your opinion of what it is worth to you. Let him counter offer you.
Something you never had , is not a loss if you do not get it.
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He who dies with the most toys is,
nonetheless ,still dead. If all else fails ,Read all that is PRINTED. Just because you do not have the tools for job , it dose not make it a bad design. |
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JC-WI
Orange Level Access Joined: 11 Sep 2009 Location: wisconsin Points: 33623 |
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Well, it seems when I stop and ask, they don't want to sell but will take my name and number... and within the year, it will be sold and not to me... Stopped and asked about an old Cat Forty Diesel crawler, The old lady's blind husband would never run it and didn't do anything anymore with anything... she said I could look at it. I did, and covered up the exhaust with a better can that didn't have a rust hole in it. Went back up to the house and said I would give her $700 dollars for it (back when scrap was about 90 dollars a ton). She said she would have to talk it over with the husband... But to write my name into the phonebook. I did and left. several months later I drove by and it was gone. I stopped and asked if they had moved it, no, she had sold it to another fellow for 300 dollars that was all it was worth according to him. I asked her why didn't she call me because I had left her a $700 offer on it... people, Sheesh.
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He who says there is no evil has already deceived himself
The truth is the truth, sugar coated or not. Trawler II says, "Remember that." |
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Joe(TX)
Orange Level Joined: 11 Sep 2009 Location: Weatherford. TX Points: 1682 |
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Hard to figure people. I looked at a D14 with a 400 loader and made a $1400 offer. No reply. A year later I saw an ad for the tractor priced at $500. I bought the tractor.
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1970 190XT, 1973 200, 1962 D-19 Diesel, 1979 7010, 1957 WD45, 1950 WD, 1961 D17, Speed Patrol, D14, All crop 66 big bin, 180 diesel, 1970 170 diesel, FP80 forklift. Gleaner A
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Hubert (Ga)engine7
Orange Level Joined: 12 Sep 2009 Location: Jackson Cnty,GA Points: 6124 |
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Some people just work off of emotions and don't bother to think things through. Catch them in the right mood and you can get something to almost nothing but if they aren't in the mood to sell at that moment you can offer them twice what it's work and they will turn you down.
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Just an old country boy saved by the grace of God.
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TimCNY
Orange Level Joined: 15 Apr 2014 Location: Upstate NY Points: 1551 |
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What phase of the moon when this happened?
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wekracer
Orange Level Joined: 13 Oct 2009 Location: Tebbetts, MO Points: 1587 |
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I always agree to the first offer. Especially when trading with used car salesmen.
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dave63
Orange Level Joined: 01 Feb 2011 Location: Lineboro Md Points: 2382 |
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What ticked me off was when I made a fair offer to buy this one tractor and got turned down, I think because of who I am and the owner GAVE the tractor away. The guy he gave it to put a hole in the block and wanted to sell it. I did buy it from him and I bought the implements from the original owner. My main reason for wanting it is it came with the original sales receipt from my grandfather when he sold it new. It never went more then 1 mile from the dealership.
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The universal answer to all questions is yes, how much do you want to spend?
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modirt
Orange Level Access Joined: 18 Jul 2018 Location: Missouri Points: 6588 |
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Can you elaborate on what you mean by this? Ethical question. Assuming you want to buy something, and YOU have some idea of it's market value, say $1,000. Seller doesn't have a clue and you know seller doesn't have a clue. You ask what they would take and they say $50. Will you inform them it's worth more and pay more or will you buy it for $50? And this assumes a privately negotiated deal......not an auction.
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WF owner
Orange Level Joined: 12 May 2013 Location: Bombay NY Points: 4380 |
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A few years I bought a WD for parts. The tractor had been the lady's late husbands and it had set for a couple years (at least). The rear rims and tires were very good, sheet metal was very good and it had an almost new battery box. Apparently her husband had taken very good care of it, but after he passed away, her son moved it outside so he could put a car in the parking space. She told me a guy had been there several times and offered her $50 for it. She had asked him $100 and he wouldn't pay it (I know the guy that was trying to buy it). She asked me if I would give $100. I told her she was too low. I gave her $250 for it. I used several parts off it myself and got more for parts off it, than I gave for it.
She was happy and I don't feel I took advantage of her.
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Butch(OH)
Orange Level Joined: 11 Sep 2009 Location: Lucerne Ohio Points: 3829 |
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Been there many times. You really cant blame an unknowing person for checking around about the value. The person that screws the deal up is not him but the guy who says the goods are worth some BS number but has empty pockets or no intention of buying said goods. When I get that response I ask was that offer in cash? Now if that owner had accepted your offer then turn coated on you because somebody said it was worth more that is a different deal.
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WF owner
Orange Level Joined: 12 May 2013 Location: Bombay NY Points: 4380 |
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Since I am considered an AC guy in our area, I often have people contact me about what their AC tractor or equipment is worth. Most think it's worth a lot more than it actually is.
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Dave H
Orange Level Joined: 11 Sep 2009 Location: Central IL Points: 3477 |
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Once upon time! I used to drive by an 8N Ford that was setting in the weeds. Owner said it was worth 3650 cus it was a real good tractor. Next owner of the property said he was gonna fix it up for parades. This was at a green house on a 5 acre plot. Third owner went belly up. I stopped in and asked him if he was interested in parting it out from the property. He said, make me an offer. i said I could only go 650 and pull it on the trailer that day. By this time the motor was lightly stuck due to a cracked manifold. He jumped at that price and scared the hey out of me. After i unloaded it in the barn i noticed it had Sherman Hi/Low in it plus three like new tires including the back ones on new rims. I did not keep track on the restoration money, but it just goes to show you. |
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Lonn
Orange Level Joined: 16 Sep 2009 Location: Назарово,Russia Points: 29773 |
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How about a reversed situation......I had a chance at a free first year D21 sales brochure in mint condition about two years ago from an older gentleman I know. I told him I'd rather buy it from him and that I'd come back after checking on the internet for prices. Weeks later I discovered my cousin scooped it up for free instead. He didn't know I was even offered it. How's that for being stupid!
Edited by Lonn - 20 Sep 2018 at 8:50am |
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Randy(Mo)
Orange Level Joined: 13 Sep 2009 Location: Jefferson City Points: 521 |
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modirt what I meant by two prices is: If someone ask you what their tractor is worth, do you tell them what you would give for that tractor or do you tell them your opinion of what tractor is worth? To me something is worth only, what you are willing to give for it, high or low. Just my opinion!!
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Mo Allis Club member
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modirt
Orange Level Access Joined: 18 Jul 2018 Location: Missouri Points: 6588 |
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I asked as I do valuations/appraisals for a living. In my case, farms, but principles are the same. There is a lot of confusion about what things "are worth". First thing you have to do is define the value you are talking about. In real estate, we talk about market value, which has very detailed set of rules that have to be met. Terms in cash, willing buyer, willing seller, both equally informed, etc. As opposed to value in use, sentimental value, etc. One value is objective, the others highly subjective. What somebody might pay for Grandpa's tractor, or what it might take to get an unmotivated seller to part with Grandpa's tractor is different than what you and I might pay for it at a public auction bidding against each other. When it comes to the value for a tractor, two informed individuals, having knowledge of what similar tractors have sold for, and knowing condition and what implications of what condition means. If both are equally informed and motivated and acting in their own best interest, they are likely going to come very close to the same number and can strike a deal pretty easy, and both be happy about it. When one party is dealing from strength, and is informed, and the other is not, that is when things can go off the rails. A lot of it depends on trust. I know folks I would trust to be fair with me and those I would not. If someone has been gigged, they are not going to trust strangers, so tend to go slow. So in that vein, it pays to be honest with folks and try not to gig them and you will develop a reputation for being someone folks can trust. But gig someone, and they find out about it, and word gets out, and you won't be welcome anywhere. Thats why I asked if folks would knowingly take advantage of someone and pay $50 for something they knew was worth $1,000. I used to joke about having a list of folks who should be shot. Mostly it was real estate agents, but some were farmers and land flippers too. With wackos actually starting to shoot people, that joke is no longer funny, but back when I would tell it, it was shocking to know how many times the same people would show up on peoples list. Some folks were simply known to be crooks and people far and wide seemed to think of them as such. What were they know for? Screwing people over. Asking old widow ladies what they wanted for their farm. Old ladies who had no clue what it was worth, so when the old lady said $500 per acre for a $2,000 acre farm, they bought it for that. Then turned around and flipped it for a $1,500 per acre profit. Or trying to buy it for $500 as that was all "they could afford". I know one guy who screwed family members out of $1M on a land deal for that exact reason. Actually, the biggest fights I know of, and the worst screw jobs of all time, are often between siblings. Point being, be known as someone who is fair and honest and you should not have trouble buying what you want. You may strike out but let that slide and look forward to the next deal where you don't. Above all, don't be the crook who deserves to be shot. |
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Gary Burnett
Orange Level Access Joined: 11 Sep 2009 Location: Virginia Points: 2851 |
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Actually some of the most overpriced and most under priced farm equipment/tractors I've seen sold have been at auctions with lots of people.Lots of things factor into it at an auction.Couple years ago I bought 2 MM Z tractors with good sheet metal,one had new tires and one would run. $25 each 50 people standing there on a Wednesday night auction.Had several people comment later they didn't know why they didn't bid.If I'd of bought them at private sale for $100 each probably a lot of people would have said i 'stole' them.When it comes to buying and selling no predicting what people will do.
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DonDittmar
Orange Level Joined: 15 Sep 2009 Location: MIllersburg, MI Points: 2476 |
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Yeah, NEVER keep track of that
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Experience is a fancy name for past mistakes. "Great moments are born from great opportunity"
1968 D15D,1962 D19D Also 1965 Cub Loboy and 1958 JD 720 Diesel Pony Start |
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Fredrick190xt
Bronze Level Joined: 26 Apr 2016 Location: California Points: 21 |
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Randy, I hear ya. When I am asked, I always stress that my prices are from auctions that I attend. modirt-when I bought my 1075 bale wagon the uncle was helping his nieces clean up the ranch. From research those machines have asking prices in the $18,000 + range. It was missing the radiator screen, radiator had a small weep in the corner, and no one knew what shape the computer was in. I told him that it was worth alot more than I would offer but given what was wrong and rebuilding the computer was $1000 minimum if it was bad, AND I only farmed 50 acres so I couldn't justify spending over $3000 for it. They accepted it, saying at least they got that for it and it was off the ranch. The computer WAS bad. I still haven't fixed it, 2 years later. Thank goodness it has a manual override. I later found out from another gentleman I bought a baler from that the father had been asking $18,000 for it. So yes, honesty will never hurt you.
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