Are You A Gambler?

[stevem5215]

$8000 gamble. No tires included so add another $3k or so.

 

[hummertom]

Be careful with Iron Planet, they are only in it for the money, a few years ago I was in an auction with them, they had a bunch of Kubota's for sale, when the first one sold they decided that was the 'floor' price for the rest. I should also note that they are the agency selling off the material stockpiled for the border wall. They are part of Gov.Planet based in Pleasanton, CA but have auctions all over.

 

[Too many Kubotas]

Be careful with Iron Planet, they are only in it for the money...

That's really not an all bad business strategy.

 

[Paystar]

I don't know about tractors but I do know we have an F550 Ford diesel at work that went off the road and ended up in a pond with water up to the dash.
That thing is at the Ford dealer literally once a month with electrical gremlins.
And that's after it was "fixed" under insurance.

Also, never touch any of the auction tractors you see with 50 to 100 hours that were snow contractors. Every one I have seen, and the ones my friends bought were rotten from the salt in that low hour time with all kinds of stuff seized up under them.

 

[boatmoter]

Iron Planet auction has about 20 brand new Kubotas being auctioned off. All listed as "sustained flood damage March 10". They are all still in their crates. No ideas of high the water got on them or what.
Would you take a chance?

if water got into the computer or the harness connectors you will be in for big bucks. you would also need a scanner, the scanners to scan a farm tractor are bout $$ grand. and they charge an arm and a leg to scan it for you.on cars,insurance company's total out cars if they been submerged deep enough to get the wiring harness under. it creates voltages drops Galore and will have many problems down the road with high resistance on the computer harnesses or the buss circuits.

 

[sunandsand]

I'd say (and this is only my opinion, YMMV) that these tractors should be parted out. That way, each part can be inspected for water damage and either cleaned, reconditioned or scrapped.

Water does awful things to complex machinery. Next door neighbor bought a Chrysler (something) which turned out to be a flood car and wasn't on the Carfax. Constant random problems, and the inside of it stank. Dealer went out of business so there was nobody to sue.

There was a Piper Cherokee tied down somewhere in the Florida keys, storm surge got it. Seller claimed "it was only halfway up the tires" so he was selling it for "just a little under market value". He also said it had new carpeting (hmm, wonder why?) Photo showed up on some website showing THAT airplane (by N number) in standing water halfway up the doors, and of course it was salt water.

Someone at the FSDO (Flight Service District Office) saw the photo and promptly revoked the airworthiness certificate AND demanded the data plate. Someone now has an airplane shaped flower planter, hopefully it wasn't parted out and all those salt water damaged aluminum and steel parts wound up at a recycler instead of as parts on other people's airplanes.

In 1970, I bought a 1969 BMW R69S (motorcycle) from a salvage company for $50. It was found at the bottom of a canal in Miami about a month after it was stolen. About the only things salvageable were a handful of small rubber parts. I chalked the $50 up as "entertainment".

I would pass on these tractors because a tractor is a long-term item, I wouldn't care to risk putting up with strange and unpredictable problems for the next twenty years.

Best Regards,

Mike/Florida

 

[paulsharvey]

It is a gamble, but you need to hedge your risks. If you have the money to risk, and get a $40k machine, for $8k, that's a pretty healthy margin to fix what need to be fixed, and resell for $25k. I just don't know enough about the modern emissions stuff to say on that front, and if these specific models are easily deleted. Mechanically, gears can absolutely take some water and rust, and be freed up, and run many years, just fine. The unassembled ones, I worry that they may not have had fluids, and then held water for 9 months, without getting drained. Wiring, computer, and emissions are all at risk; even if mechanically its fine.

I would hazard to guess, if you bought 10 of them; 2 or 3 would be 100% fine; 1 or 2 would be broken down for parts; and the rest would be in the middle. You would probably make money on the whole; but buying a single one, you dont want that 10-20% chance of a near total loss.

I also would guess a fair number of machines have been half under water, and you would never know.

Also, depends on the purchasers abilities and time to fix, vs paying someone $120+/hour to make repairs.

 

[Rustyiron]

I don't imagine that you'd loose all of the (currently) $8k if you were to take this bet. They're in perfect shipping condition but will probably get snatched up within driving distance. Someone is probably going to make a decent profit on these but don't look for any factory warranty.
If I could drive there and get home in a days time, I'd be bidding.

 

[paulsharvey]

Regardless, they still have a Lot of good parts, and I don't blame the insurance company for not just selling them for $0.08/pound at a scrap yard.

 

[Elviscaretaker]

Water looked to be up over the motor on the 2 I looked at, hard pass. Especially since it doesn't look like you are buying a complete tractor.

 

[Too many Kubotas]

Regardless, they still have a Lot of good parts, and I don't blame the insurance company for not just selling them for $0.08/pound at a scrap yard.

Agree.

And besides, you Floridians must be good at fixing stuff that's been under water by now.

 

[Metalman5767]

At least Iron Planet did a pretty good job of taking pictures. Lots of what looks like silt throughout; on the lower part of the crate, on the top of the cardboard box, on the step-thru platform and pedals, on the fuel lines and line covers, on the starter, on the alternator windings and on the grill/hood front. There's rust on the steering column threads. The water must have been over the level of the hood and based on the silt, it wasn't clean water.

I don't see how these could be worth $8k in parts or aggravation.

The 3ph parts look good though.

 

[paulsharvey]

Well, if someone wants to buy one, and make YouTube videos, showing the process of getting it too work, and all; ill subscribe.

 

[plastikosmd]

Nope

 

[Too many Kubotas]

If the wheels and tires came with it, I'd be tempted. Could be a fun project.

Then again, I already have enough on the list for several years.

 

[Williy]

If the tractor is in a wooden crate you should see a water
mark to let you know how high the water was

willy

 

[sixdogs]

I've seen deals like this at auction the second time around after the original buyer was swamped with bad everything and an open wallet learning curve. Anything close to worth anything is already gone and this is what's left. Buyers assume the best.

Assume the worst because is almost certainly what you'll get. Then figure out the hours of research you'll "save" at $120 an hour and the hours of educating a tech in flood damage repair, at out of pocket $120 an hour, plus hauling both ways and that's a better bet. Parting out and storing those parts is the best use now and you'll still have parts left when you die.

I've learned the price of all things, when all known or suspected is factored in is the same. This discounted machine, when fully operational and parts, labor and aggravation are factored in is roughly the same price as as used model in the same condition the damaged one ends up as. Maybe less because buyers are skeptical of these things. That's why guys that put a lot of money into a car restoration gripe when they can't get half what they have into it, not counting labor.

Better to buy used that's a little older with maybe a problem and rotten tires and fix it. That's works and you have a better grip on what you have.

Here's an example:

How to restore a neglected M6800 Kubota back to "WOW".

This is post one of three. Here's how I restore a neglected tractor, or piece of equipment back to impressive condition and with a minimum of effort and while maintaining it's originality and manufacturer integrity. It's easy-peasy. First, you change as little as possible and only clean...

www.tractorbynet.com

i

 

[big bubba]

wouldn't remotely consider the purchase. too many electronics/ sensors alone to go wrong.
plus dealing with possible water entry in the engine intake. pass on it unless you're in the specialty parts business regards

 

[CliffordK]

Post a link to the auction

2022 Kubota Mx5400HST Utility Tractor (Unused)

Hydrostatic Drive, Tier 4, 53 hp Engine, 2022 US EPA Label, 540 PTO, 3-Point Hitch

www.ironplanet.com

Ok, this looks like an older thread. That tractor went for $17,000 (plus fees?).

It looks like it could be an interesting project. However, the tractor has been out of the water for 7 months. One could get lucky and it stayed dry inside, or one could have a rusty corroded mess. Most of the main components are there, but no tires in any photo, nor a bucket or other accessories. We have a local tractor scrapper that might have wheels and tires... hopefully.

I'd be more comfortable with a flooded 30+ year old tractor, that one could get just days after being pulled from the water, and was in good working condition before the flood. Clean it up and see how one fares. The electrical system on my old Ford or Deere is pretty simple.

 

[paulsharvey]

Yeah, at $17,000, I don't think that gives you the wiggle room for replacement parts, repairs, and still a healthy profit margine to cover your risk. That price is someone gambling that a fluid change and wheels/tires are all it needs, and that's a dangerous gamble to make. I'm bot saying it absolutely needs more, but you got to build that risk unto your bid. I mean, let's face it, he bought that for $22,000 by the time you figure wheels/tires into equation. and don't know about Iron Planet, but generally between Buyers Premium, card fees, tax, typical auction is over 20% more than bid.
I see this being min $25.4k adding tires/wheels/auction fees, and a single full machine fluid/filter set up; vs $35.7k for brand new equivalent, zero risk machine. I get it, $10k is significant, but even if you need guages/some wire harness, battery cables, a starter (keep in mind how low the starter is, without wheels), and $120/hr help; I don't like it.