Learn how to better manage your machinery investments from Greg Peterson, a.k.a. "Machinery Pete." He's been researching and analyzing machinery auction prices for more than 20 years.
The Story Behind 3 Low Hour IHC Tractors
Jul 29, 2014
(3) low hour IHC tractors coming up for sale on an August 14th auction in central Minnesota. From right to left in the pic: 1976 IHC 886 with 2,150 hours; 1979 IHC 1086 with 2,694 hours and a 1982 IHC 5288 with 4,366 hours.
"Pete, what's the story on those low hour tractors coming up for sale?"
It's a natural impluse. We see tractors like the (3) IHC models pictured above coming up for sale at auction, notice the very low hours and think to ourselves..."Hmm, wonder what the scoop is, why the very low hours?" For lot of folks (most?) the default response is scepticism, which is a healthy thing. I've always advised potential buyers to make a ton of phone calls, talk to the sellers and the auction firm, ask lots of questions, get 'em talking...you'll get gut level responses to what you're hearing.
I've always loved to find out the "stories" behind the tractors.
And as I've learned from nearly 25 years covering auctions all over North America, there are often some very interesting reasons that 10, 20, 30+ year old tractors have very low number of hours on them. The (3) IHC tractors pictured above are a good example.
Auctioneer Eric Gabrielson with the Steffes Group (www.steffesgroup.com) gave me a rundown on the unique history of these IHC beauties: "These tractors were purhcased new, except the 5288, near Evansville, MN and have not been in use since renting out the land in 2003. The family told us they were started and moved yearly. They say the hours are actual."
"The family owns 400 acres of beautiful farmland in the Evansville area. They started a large automotive repair show in Minneapolis in 1932. They would come out to the farm to get away from the city life and hobby farm. I've known about the equipment for years as they are old family friends. They didn't want anyone near the old farm places as they are seasonal homes, so we hauled the entire farm line to Litchfield (MN) for our August 14th auction." Link to sale bill: www.steffesgroup.com
So the (3) IHC tractors not in use for 11 years and the farm operation was just a hobby farm type and encompassed only 400 acres for a family looking to get away from the big city. Interesting story indeed.
Here are closer up pics of the (3) IHC tractors:
1976 IHC 886 with 2,150 hours
1979 IHC 1086 with 2,694 hours
1982 IHC 5288 with 4,366 hours
I will of course be reporting on what these (3) tractors sell for on the August 14, 2014 auction in Litchfield, MN, along with all the other equipment on that sale. Should be very interesting.