Traders are required to be bonded here in NY but that does not mean that you will get 100% of the value on a dealer's default. My understanding that it usually runs in the range of 80% recovery but I have heard on occasion of guys receiving under 60%. I keep asking a fellow I know about a bad deal that happened to him a few years ago and the fact he changes the subject when it is brought up tells me he must have got hurt bad. Maybe somebody knows here how NY's bonding is structured. I would say a big problem that there are few financially strong dealers here and they know it and reflect it in their basis. So if you want a really good price you may have to go with somebody that may be risky in some way (slow to pay or does not pay when promised). Hopefully that will change with corn as a couple of ethanol plants have come on line here. Definitely choppy waters here with something like wheat. Some other parts of the state are not so bad but then you have to look at cost of transportation to see if it is worth running 60, 80, or 100 miles from home.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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