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Selling Out?


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#1 johndeereelfman OFFLINE  

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Posted October 10, 2012 - 09:19 PM

Since it appears that we may not get the dream house that we want, and finding another house with enough garages or storage space seems to be very thin, I've been giving some thought about selling all of the garden tractor collection and attachments. We just can't seem to find anything in our price range that has either a lot of garage space or enough property to build a large pole barn. Since the garden tractor market is in demand right now, and the prices are high, it couldn't hurt to sell out, right?

I know I'd miss working on the tractors, and going to tractor shows, and I'm pretty sure I'd be kicking myself in the future for ever letting them go. The idea of starting all over again, years down the road, just makes me hurt. I think my wife would even be a little disappointed to see everything go, even though she can't bring herself to say so. But if I sold everything, I wouldn't have to spend a small fortune building a storage unit, or wouldn't have a mortgage that would be three times my weekly pay check amount. There would be some freedom, but I think the remorse would be greater.

I sat down the other night, and went over the long list of tractors, attachments, and parts, and tried to estimate just how much everything would sell for at a public auction if it was advertised well. A general all around figure would come up roughly around $15,000.00. Now, for most, that sounds like a nice chunk of change, but it's only money. Money that will be easily spent, faster than it took to get the collection this size, and most likely on things that won't last as long as these old machines have. Yeah, the collection takes up a lot of space, but it appreciates in value day by day. There's no paper work connected to it, that gives people the right to take it from me, no stock market numbers fluxuating the overall value daily, and no matter what the interest rate may be at the bank, this collection will always be rare and very valuable to me.

So, I thought I'd put out a survey. Just when is the right time to sell? Has the price for antique garden tractors hit it's peek yet? What happens if we sit on these old machines too long, and miss the golden opportunity of the "best time to sell"? How many of you are holding on to these old machines as investments for your retirement or kids college fund? How many of you are planning on selling when the market is high? How many of you really don't care about how much they are worth, and just collect for the enjoyment?

I'm curious to see how everyone stands on this topic, and I'd like to know what you would do if you where in my situation.

#2 CASENUT OFFLINE  

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Posted October 10, 2012 - 09:36 PM

Well, first the realization you have contemplated selling out...sux. Or the reason for it...but, last year I bought a collection of 12 speedexes. Some in perfect order some needing a lil work. a couple of extra engines and plows, sicklebar mowers etc. The man I bought them from had 'lots and lots' of money invested in them...and time. He posted them on Ebay as a sell em all at once proposition. He had the starting bid at $3k and fully expected them to go for $12-15k or so ...at the end of the day I offered him $3k cash and he took it (after no one bid on ebay). I don't know how big your collection is, yet in this economy while 'some' folks will spend big $$$ for one most will not spend big $$$ for all. So my recommendation to you if you re going to do it...sell them one at a time.(maybe even part one or 2 out, individual parts seem to garner higher prices) I know some tractor sell for $50-100 at an auction and the axles for them on Ebay or Craigs list will frequently draw $100-200 themselves.....keeping your final goal in sight of how much money you want and need for the whole 'lot' of them. It is the single buyer that is going to buy a single unit that will pay premium $. If you on the other hand have to sell the whole shabang at once...I would be prepared for a severe price cut...now I don't know your specific equipment so you estimate $15k very well may be $15k. but...that would be for the right buyer...

To a collector the notion of 'parting' them out seems hard to swallow...but the reality of it is...that is where the $ is...

Good Luck
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#3 Newpaws493 OFFLINE  

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Posted October 10, 2012 - 09:41 PM

After reading, I'm just numb.
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#4 IamSherwood OFFLINE  

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Posted October 10, 2012 - 09:42 PM

Just my 2 cents worth, but as Jess just said on Duck Dynasty. "You might be going from a
life of Happy, Happy, Happy, to a life of Crapy, Crappy, Crappy.



Edit
I guess, I should qualify that. I'm refering, to you selling your hobby/collection.

Edited by IamSherwood, October 10, 2012 - 09:46 PM.

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#5 A.C.T. OFFLINE  

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Posted October 10, 2012 - 09:44 PM

I dont think the financial side of it has the impact you think it does. I think the time to get out is when your interest and enjoyment are no longer there. As you said yourself its only money. Life is short, enjoy it!

money stack.jpg
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#6 johndeereelfman OFFLINE  

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Posted October 10, 2012 - 09:48 PM

Just to clarify things here, I'm not wanting to sell my collection. Believe me, that is the very last thing I would want to do. But, I may not have much choice in the matter if we don't find something soon. As for the price range estimate, it is an estimate, and I realize the collection is only worth as much as anybody would want to pay for it. As for selling the collection as a whole, there is no way I would do that. That's why I said "at an auction that would be well advertised". Each piece would be sold separately. After all, I had to buy them that way, and I'm not going to just give the whole collection to one buyer. If he wants a whole collection, then he'll have to buy each piece separately like I had to. It wasn't easy for me, and it's not going to be easy for the next guy.

Edited by johndeereelfman, October 10, 2012 - 09:52 PM.

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#7 Ryan313 OFFLINE  

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Posted October 10, 2012 - 09:51 PM

I am sort to hear this. I don't really have any advice on when to sell, but I agree splitting thee collection might get more for you.

Just my 2 cents worth, but as Jess just said on Duck Dynasty. "You might be going from a
life of Happy, Happy, Happy, to a life of Crapy, Crappy, Crappy.



Edit
I guess, I should qualify that. I'm refering, to you selling your hobby/collection.


So I am note the only one watching? Lol!
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#8 HowardsMF155 OFFLINE  

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Posted October 10, 2012 - 09:58 PM

As someone who already had a number of Gravely tractors split between myself and my father's house, I've recently faced the problem of finding storage for excessive tractors when I decided to add Massey's to the mix. I think creative storage solutions would help, for instance I have a deck, I put a roof under it and have stored several tractors there. I would say, if you still enjoy the tractors, you might consider selling one or two of the least wanted tractors in your collection and figuring that you will still find room to store things. Store under decks, store under a child's playhouse, store on multiple levels in one building.
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#9 Wheel Horse Kid OFFLINE  

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Posted October 10, 2012 - 10:34 PM

If it were me, instead of selling all of your tractors, I would only sell some of them and try to find a way to keep the ones that are extra special to you, kinda like what Howard said. I just think that you will really regret it if you sold all of your collection.
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#10 HDWildBill OFFLINE  

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Posted October 10, 2012 - 10:34 PM

I agree with ACT, the time to sell out is when you no longer enjoy having them or working on them. Money comes and goes and unfortunately rules our live to much. I actually think the question should be "What Alternative solutions can we come up with?" Maybe post some pic's of what you have and what you need to store and with the talent we have on here I'm sure some great idea's will be presented.
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#11 pigsitter OFFLINE  

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Posted October 10, 2012 - 11:17 PM

As someone who only collects for fun I think before I liquidated my entire collection I'd look into thinning things down til I got it to a few favorites.That way you'd need less storage space as well as still be able to enjoy the hobby.
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#12 Moosetales OFFLINE  

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Posted October 10, 2012 - 11:25 PM

Elfman,

Based on everything I've ever seen you post, it's clear to me that your collection is near and dear to you AND your family...wife included. I have 4 kids and lots of reality to sift through on a daily basis so I get it when someone must make the tough decisions that you are facing. Although I'm not by any means a seasoned collector I know for myself much of the fun is in the HUNT. So, enjoy them while you have them and don't sweat it if you must part with them. There's always another day and another deal right around the corner. Plus, for those of us who are just beginning, selling your tractors doesn't mean you'll loose all that GREAT information you've stored up over the many years you've been collecting. Believe me, all those you've helped, as helped me last year when I bought my first tractor (1974 JD 110), WE APPRECIATE YOUR HELP. Blessings on you and your family.

Edited by Moosetales, October 10, 2012 - 11:27 PM.

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#13 JDBrian OFFLINE  

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Posted October 11, 2012 - 05:42 AM

Troy I'm sorry to hear you are considering selling but understand the situation. I'd look at long term goals for yourself and your family and weigh those against the "worth" of the collection to your family. I think you will find a compromise where trimming the number of tractors will make the storage problem go away while keeping the core of the collection and the fun and other benefits that the hobby brings.
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#14 Reverend Blair OFFLINE  

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Posted October 11, 2012 - 05:52 AM

That's the kind of choice nobody should have to make, Elfman.

I don't know your situation well, but if you are looking for more space and/or a dream house, have you considered finding an abandoned farm yard/house and slowly building on it? Properties like that are cheap in some areas as farms keep getting bigger and the expense of turning yards back into farmland is often prohibitive. The catch is that they often need a lot of work and aren't very comfortable while the work is ongoing. If you can handle the home handyman thing, though, you can generally rehabilitate old houses. Commute times and costs can be a killer too, so it's not for everyone...that's the factor that kept me and Mrs. Rev from doing it when we had the opportunity.

You would likely have to keep most of your collection outside for a while too, unless you luck into a place with an old barn or quonset. I know that's not ideal, but tarps don't cost much. The biggest bonus is that eventually you'd need to landscape, and that translates into plenty of seat time.

Anyway, just a thought.
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#15 LilysDad OFFLINE  

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Posted October 11, 2012 - 07:00 AM

As someone who only collects for fun I think before I liquidated my entire collection I'd look into thinning things down til I got it to a few favorites.That way you'd need less storage space as well as still be able to enjoy the hobby.


I agree. We all know about the GT disease and we all know when we went from reasonable to psychotic. :D Just trim your collection back to reasonable. Only you can decide what is reasonable.
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