Tim bought a stolen tractor.

[Oldoak]

Buying at auction, how are you supposed to know if ‘too good’ as soon as the gavel drops, I was committed by law to purchase. What was I supposed to say, “Hold it, this tractor is sold to cheap..”???

Besides, I wasn’t the only bidder. If I hadn’t bid, the next highest bidder (a local machinery dealer) would have been stuck with it.

I just don’t think the ‘if it is too good to be true’ statement applies to this situation.

Tim

I agree with you.

The same thing goes for "yard" or "garage" sales. Although I was never one of those few lucky ones to purchase a very valuable antique for a couple of bucks.

 

[BrokeFarmerJohn]

Thanks for the kind words. I just saw this thread today. Still haven’t got our money back. Oh well!

Man that’s a bummer! There is a lot of horror stories on here regarding buying stolen tractors.

I have read about quite a few who buy very expensive tractor, finance it, take them into the dealer for service, next thing they know a different bank is repossessing the tractor from a previous bad loan. And they are out a tractor and a lot of money.

These stories seem to be getting more and more frequent.

 

[TractorNH]

Man that’s a bummer! There is a lot of horror stories on here regarding buying stolen tractors.

I have read about quite a few who buy very expensive tractor, finance it, take them into the dealer for service, next thing they know a different bank is repossessing the tractor from a previous bad loan. And they are out a tractor and a lot of money.

These stories seem to be getting more and more frequent.

This issue played into my decision to buy new instead of used. Too many stories out there and I didn't want to take a chance with upwards of $25k. Should never be an issue buying brand new from the dealer who got it from the factory.

 

[buckeyefarmer]

Buying at auction, how are you supposed to know if ‘too good’ as soon as the gavel drops, I was committed by law to purchase. What was I supposed to say, “Hold it, this tractor is sold to cheap..”???

Besides, I wasn’t the only bidder. If I hadn’t bid, the next highest bidder (a local machinery dealer) would have been stuck with it.

I just don’t think the ‘if it is too good to be true’ statement applies to this situation.

Tim

Your right, doesnt apply. I bought my first tractor at an auction, i could have been in the same situation.
Hope you get it resolved.

 

[Tractor Time with Tim]

I agree with you.

The same thing goes for "yard" or "garage" sales. Although I was never one of those few lucky ones to purchase a very valuable antique for a couple of bucks.

No, public auction, ran by a licensed Auctioneer is different than a yard sale. The auctioneer is responsible to guarantee 'clear title' (figure of speech of course, which means ownership and no liens).

Check out this article: Auctioneers, auctions and title | Mike Brandly, Auctioneer Blog

Buying from an individual is different. There are no guarantees in that situation.

 

[2LaneCruzer]

I have heard a lot of stories about stolen JD tractors. Guy in Enid, friend of a friend, was mowing some right of way near his house; went in for lunch, left his tractor sitting out. After lunch, no tractor. He didn't report it right away, thought friends were playing a joke on him.

 

[John Fitzgerald]

This issue played into my decision to buy new instead of used. Too many stories out there and I didn't want to take a chance with upwards of $25k. Should never be an issue buying brand new from the dealer who got it from the factory.

Even buying from a dealer may not be perfectly safe. Tractors have become so expensive now, they SHOULD have titles just like cars and trucks.

 

[Jstpssng]

Even buying from a dealer may not be perfectly safe. Tractors have become so expensive now, they SHOULD have titles just like cars and trucks.

A 4 thousand dollar tandem axle trailer does, it seems like the tractor you haul it on should too. Barring that a simple serial number database might work, just as CarFax does for your automobile.

 

[Tractor Time with Tim]

I agree to some extent. I just hate to see the government involved. I would prefer it if the manufacturers would step up and manage the "title" concept on their tractors.

 

[Jstpssng]

I agree to some extent. I just hate to see the government involved. I would prefer it if the manufacturers would step up and manage the "title" concept on their tractors.

That's why I suggest a "TractorFax" type of database. Not only would you know that it was stolen, but also other issues that the previous owners might have had.