How Buying Equipment at Auctions Can Help Farmer

tractorHow much does it cost to buy a new tractor? While a bare-bones one might sell for less than $10,000, most mid-size tractors with 30 to 75 hp cost between $25,000 to $50,000 these days. So if you think a brand new car is expensive, realize that tractors are typically even more costly than cars.

Farmers today want to make sure they don’t go out of business. Therefore, they have to be frugal with their money. Auctions can help farmers save money on equipment. At auctions, it’s typical to find good bargains, such that the farmer gets high-quality at a lower price than buying retail.

When buying farm equipment at auctions, it pays to do some homework beforehand. Know what you want to buy and what it’s worth, so you’re not overpaying for it. Do some research online to find out the details of various items and how much they’re “going for” brand new versus used. Quality, price and a brand’s reputation all come into play here.

Whether the auction is in-person or online, it’s always a bonus if you’re able to see the items “up close and personal” before placing a bid. Thankfully, many online auction sites do their best to provide detailed photographs (and sometimes videos) to show you the true condition of various items, and how they’re used, too. Farmers specifically want to notice hydraulic systems, internal systems, and be on the lookout for any damages to equipment that could be “okay” or a “deal breaker.”

One of the main reasons auctions are so popular is because they offer farmers a way to save money on purchases. Rather than buy equipment brand new, at higher prices, farmers can get decent stuff at auction for a fraction of what they’d cost brand new in a store. Sometimes a “fixer upper” can be had for such a good price that it’s well worth the time and energy it’ll take to bring the equipment up to speed.

Finally, it can be fun bidding on equipment, to see if you’ll “win” what you want at the price you’d like to pay.