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Tips For Buying Used Farm Equipment At Auction

Thursday, September 24th, 2015

Buying used farm equipment is a great way to save money if you’re on a budget. There are many opportunities to buy used equipment that is in great condition at auction, but how do you know if you’re getting a good deal? First, you can consider the benefits of buying farm equipment at auction and remember the important factors to look for. It is also important to keep in mind the best equipment to buy at auction and how to maintain your used farm equipment.

Benefits of buying used farm equipment at auction

There are many benefits to buying used farm equipment at auction. You can get high quality brands at lower prices, without having to spend a high price for a new machine. Another advantage of purchasing used farm equipment is buying backup pieces. If you already have a great tractor but need a backup, buying a good used tractor is a great option for saving money.

Another benefit of buying used farm equipment at auction is saving startup costs for a new business. If you’re starting a new farm and don’t have thousands to invest, you can save money by purchasing pre-owned machinery at auction. The main benefit of buying used equipment, however, is the price. Overall, you’re going to be saving thousands of dollars when you purchase pre-owned machines.

Important things to look for at a farm equipment auction

One important thing to look for at auction is if the used machinery still has a warranty. Many pieces will have a warranty that covers a certain amount of usage hours. If you purchase fairly new used farm equipment, you may still have some valuable warranty left.

You can also check to see if the machinery has been updated with a new battery, new tires, or a new engine. If the used farm equipment has been upgraded you can do a visual inspection as well. Find out about the machine’s history and try to stay away from pieces that have weather or accident damage. The damage may not be easily seen and could end up causing issues after the auction. When buying used farm equipment, remember to purchase brands that are still in business so you can easily find replacement parts.

When bidding on a piece of machinery at an auction, compare the auctioneer’s asking price to the standard asking price for the piece. It is beneficial to do some homework before attending an auction. Selling prices are determined by how much two or more interested buyers are willing to pay at that particular auction at that particular time. Be wary of prices that seem too good to be true. Farm equipment fair market value can be determined online or by talking to an expert.

Best used farm equipment to buy at auction

Experts recommend buying diesel powered farm equipment when you purchase used pieces, because diesel engines are more efficient and will cost less in the long run. Don’t buy any pieces that have exceeded traditional annual usage ranges, because these could be worn out or wear out faster after you purchase them.

See if you can test the used farm equipment before purchasing it. You can also talk to the original buyer and discuss the machinery before the auction. Talking to the owner will help you understand how the equipment was used and what kind of shape it’s in. A good rule to follow is to only purchase machines that are between three and eight years old. Before the auction, make sure you have completed all of your research. Auctions can be high energy events, so it can be easy to bid on a questionable piece of used machinery in the excitement.

Maintenance of your used farm equipment

Once you bring home your used farm equipment, take care of it to extend its life. By maintaining your equipment, you can ensure it retains its value if you decide to sell it in the future. Replace batteries as needed (every 3 to 4 years), keep an eye on the tires for low tread, and manage other parts as needed. Maintaining your machinery keeps it working longer and makes your purchase worth the money.

For More Information

If you would like more information on buying used farm equipment at auction, High Plains Auctioneers can help. You can call us at (806) 244-6776 or Contact Us by email. You can also check out our upcoming auctions, which are updated regularly.