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1970 Ford 4000 Appraisal.

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Old Henry

02-03-2003 22:38:12

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Uncle Tom passed away. The farm was sold. His widow is selling the old 1970 Ford 4000. Condition is average (if that means anything). She had the Ford dealership (south central Pa.) appraise it. They said $7000.00. Seems a bit to high to me. What do yall think? Any feed back?

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david

02-04-2003 11:19:01

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Re: 1970 Ford 4000 Appraisal. in reply to Old Henry, 02-03-2003 22:38:12

Biggest problem with appraisals is you are picking a definite figure for many different values. I would speculate that they appraised a retail sale price. An "average" 4000 off a DEALERS lot with them having to support the sale (advertising, possible repairs, interest) in an area that likes them would be about $7000. A better question to ask them prior to an appraisal is to appraise what they would give for the tractor. Most times an outside appraiser is used is to set values for tax purposes or insurance (both would need a high retail value). The only sure "appraisal" is a public auction (absolute) with motivated where a motivated seller and a motivated buyer reach an agreement in a finite period of time.

If you are pricing it to sell you need to price at a wholesale or avg auction price +/- you local demand for type of unit. If you want to sell it $5000.00 would be big money for a diesel, $4000 for gas. Saw this this past year, lady was trying to sell her father's stuff. Appraisal from a dealer was about 150% of auction price (hadn't sold a thing). She adjust down to about 95% of that and sold everything. Remember, most of your buyers want to buy and resell. They have to have room to make a profit,too.

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Fighting suburbia in NC

02-05-2003 05:45:15

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Re: Re: 1970 Ford 4000 Appraisal. in reply to david, 02-04-2003 11:19:01

Pricing also depends on the area you are in. Smaller tractors used values are higher percentage-wise than larger tractors in most places, especially urbanized areas. Who needs a 100HP machine to tend 5 acres of lawn?

Retail price is not what you can expect to get in a private sale - get the dealer to give a trade-in value for it and figure you can probably get 10% above that. JMHO

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gatractorman

02-04-2003 02:05:29

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Re: 1970 Ford 4000 Appraisal. in reply to Old Henry, 02-03-2003 22:38:12

Think I'd see if they wanted to buy it, machinerylink.com said $6250 for premium condition, $5208 good condition, $3528 for fair, and I put in it had a diesel which you didn't specify.

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