Maximum Valuation

mike melillo · #1 12-29-2013, 09:42 AM

I have been thinking about the cost of my 149 restoration and the potential resale value had I ever decided to sell it (which I have no plans to sell). Of course it comes down to whats it worth to who, but the reality is that I have past the point of diminishing return from the standpoint of return on investment.

I stopped counting when I past 3000 spent ( a long while back), and I suspect the pool of buying population willing to pay as much is quite slim. So that got me wondering about what people would pay for a totally restored tractor of this style, and what the extreme valuation might be if it were a museum quality restoration, or even a non-restored new old stock tractor.

Thoughts?

Mike

Sam Mac · #2 12-29-2013, 09:54 AM

Are you saying you have spent over $3000.00 on a 149 ? I would think it may be difficult to find a buyer for it at that price but you never know. I know all too well how easy it is to get up to those kind of numbers tied up in one. BTDT. Now they only way I will put big bucks in one is if I intend to keep it for myself. I'm not saying don't do it just be ready to keep it for a while.

gmbadgley · #3 12-29-2013, 10:23 AM

All this talk about rebuilding machines makes me wonder, Is anyone out there sitting on NEW in the crate machines?

I used to work at a Chevy dealership, every year a guy would come in and order is new Corvette fully loaded. When it came in he picked it up on a trailer and but it in the barn next to last year's. I know he has died and I would bet the kids have a field day with them.

Leadslingingdaddy · #4 12-29-2013, 10:31 AM

To be honest...I would find it possible to spend 3k for a CLEAN super with power steering and a HD deck..

Maybe a 3cyl Super... but for a 149 styled GT....not in my wheelhouse....

That being said you always have that one buyer that is looking for yours. :-)

I had a parade ready O that I sold for twice the buying price.

sawdustdad · #5 12-29-2013, 11:41 AM

I've spent $2000 on several tractors--all those IH parts add up, plus tires, seat, etc. If you were doing a museum quality restoration, I can see spending $3000, especially if you have to hire out some work. I think the "retail" price of a fully restored 149 would be about $1000 because most folks don't realize the value of this old iron. Most guys like us, who realize what it costs to restore such a tractor, would prefer to do the work ourselves rather than buying something already completed.

red56turbo · #6 12-29-2013, 12:11 PM

Quote:

Originally Posted by sawdustdad

I've spent $2000 on several tractors--all those IH parts add up, plus tires, seat, etc. If you were doing a museum quality restoration, I can see spending $3000, especially if you have to hire out some work. I think the "retail" price of a fully restored 149 would be about $1000 because most folks don't realize the value of this old iron. Most guys like us, who realize what it costs to restore such a tractor, would prefer to do the work ourselves rather than buying something already completed.

I agree with the $1000-1200 for a fully restored 149 with rebuilt motor, new tires, paint, seat, rear lift, ect. And I do realize the value of our cubs. Just being realistic. I agree with you about doing the work myself. Does save a lot of money rather than hiring it out. This is one thing about our hobby. If one correctly "restores" a cub, we'll have way more money into them then they are worth. Just kind of a given in my opinion. I find them to play with, use, or collect a certain series or type (mmm, smokers....

). I'm not really in it for the money. Everyone has a different definition of "restoration" as well. If you plan on keeping it and using it, fix it to your liking. If done correctly, it will last another 30-40 years. Unlike the throw away models of today.

macman81 · #7 12-29-2013, 01:04 PM

If you keep the 149 and enjoy it for around 10 years with current inflation it will probably be worth 3k!

Sad but it's true lol

So there is hope of getting your money back someday

johncub7172 · #8 12-29-2013, 01:17 PM

Quote:

Originally Posted by mike melillo

I have been thinking about the cost of my 149 restoration and the potential resale value had I ever decided to sell it (which I have no plans to sell). Of course it comes down to whats it worth to who, but the reality is that I have past the point of diminishing return from the standpoint of return on investment.

I stopped counting when I past 3000 spent ( a long while back), and I suspect the pool of buying population willing to pay as much is quite slim. So that got me wondering about what people would pay for a totally restored tractor of this style, and what the extreme valuation might be if it were a museum quality restoration, or even a non-restored new old stock tractor.

Thoughts?

Mike

Mike M- I, along with other enthusiast have near or above the 3K$ mark in a G.T restoration. I don't believe I would entertain a given dollar amount that did not give back, and than some, to the time and cost of the project. I also wanted to submit the purchase price of the tractor, the cost of total paint was through the roof regarding my rout. I researched a well-known mechanic who not only re-built the Iron Line Kohler, but the type A mechanical P.T.O, two Ross steering units, complete Carter model N carburetor, and a complete drive line re-build, and made to be used with a Danco under-drive reduction unit. For me, that was well spent. Then I had to factor along all the many, many paint prep supplies, and items which needed replaced and outsourced for repairs, and all the many items that needed replaced along the way regarding the tractor chassis. The manuals were of cost, along with fuel expense. After all, that was not my motivation behind the force of having excepted responsibility and accomplishment of this project.

Most items found in a museum are in there because of the original condition, age, and many other important reasons. I believe a restored item can be just as valuable, depending on the item and it's history. But for the most part, I believe original condition items bring the most value.

DoubleO7 · #9 12-30-2013, 08:44 AM

When it is time to put it up for sale your major market is people that are just in need of a lawn mower.
And they will be comparing yours with what they have to spend for a brand new one.
And most of them will spend their $3500 on what they can buy new versus something that is 40 years old.

mike melillo · #10 12-30-2013, 08:48 AM

Honestly I never intended to spend as much, but I was surprised to find as many of the parts to be as worn as they were, and what they cost. The cost of some of these parts has gotten out of control.

I do plan to keep the tractor, and I asked to see what the experience is for high end sales for restored or like new OEM tractors. My guess would be that if there is an affluent collector type like Jay Leno that they would pay twice that with no apprehension. But I also suspect that pretty every other buyer would result in a loss.

Also in hindsight is the realization that if I had the lump sum of cash in hand with the knowledge of what it cost to do the job correctly, that I would be considering a different machine. For a little more cash I could have bought a walker rider, or a compact diesel tractor with a loader.

As for the new old stock tractors; I would bet that someone has a few somewhere.
Mike