I'll add another perspective. To me, a lot would depend on how the other items in the estate are valued compared to how the the tractors and implements are valued. I do agree that an auction would be the best way to determine the fair market value of the tractors and farm implements. However, an auction will only be fair to all three siblings if EVERYTHING except the house is sold at auction to determine the fair market value of EVERYTHING.
Few household items bring much money at auction, most only bring a "disposal price", probably much less than the estate has currently valued them. The OP might save some money buying the tractors at auction for less than the estate has valued them, but the items the sister and other brother are interested in could also sell for much much less than the estate has valued them. The auctioneer will also collect 10 to 30 percent off the top before the proceeds are split three ways, effectively splitting the proceeds four ways instead of three ways. It's possible that the OP could save some on what he pays for the tractors and equipment, but he could loose much more on his proceeds from the auction compared to what his brother and sister's items are currently valued at.
I would suggest the OP attends some household auctions in his parents neighborhood to get a feel for what the household items are selling for and compare that to how the estate has valued them. If auction prices of the household items are also lower than the estate values, I would pay the estate values for the tractors and save the auctioneers commissions. I suspect the estate will be money ahead to only auction the items that none of the siblings want to keep.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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