[acepilot]

Hi all,
Just wondering if anyone here does tractor restorations for profit. I'm thinking of giving it a try so I can use the profits to finance my Farmall collection. :idea:
Any advice? Pitfalls to watch for? Mostly interested in Farmalls, Allis and maybe Massey or Cockshutt.

 

[farmallmaniac]

From what I have seen on some of these forums from other folks is that this hobby is a labor of love. Very hard to get your money out of what you restored. Others will give ya advice shortly also. Closes one that I know that must make a profit is Parts man but he takes em apart and sells em lol.

Ryan

 

[acepilot]

Well, I certainly don't look to get rich on the sales, but "owning" a restoration business opens me up to some favorable tax laws that would generate tax deductions, i.e. my "gains" would be realized through both (small) sales profit and (greater) reduced tax expenses...

Even if just breaking slightly above even, it could be fun! mg:

Thanks for your take...

 

[guest2]

Scott
If you are going to restore a tractor for the owner be sure you both agree up front what will and will not be done to it. Put everything in writing to avoid confusion later on.

Be sure they understand the different levels of restoration. To some a repaint is a resto. Do they expect all the mechanicals to be rebuilt? What about some type of warranty? Will you be responsible for only the labor on a warranty? Don't give more of a warranty than the manufacturers of the parts are offering you.

If you are buying and restoring for resale, it will be harder to recover your investment. The customer may also be expecting a "new" tractor for the selling price.

 

[acepilot]

Wow, where did THAT smiley come from?!

It was supposed to be something like :lmao:

 

[psrumors]

These people restore for profit, take a look.

N Complete

It may be do-able if very careful in planning.

 

[aegt5000]

Yes..
I’m sure lots of people have profited from the
work I’ve done on my tractors.

psrumors…
Great looking “N’s”, but it’s not the same as looking at the finished
product and knowing that you did it. Another big benefit to doing
your own restore is that you get a real education on the tractor and
all of its components.

 

[guest2]

Originally posted by aegt5000
Yes..
I’m sure lots of people have profited from the
work I’ve done on my tractors.

psrumors…
Great looking “N’s”, but it’s not the same as looking at the finished
product and knowing that you did it. Another big benefit to doing
your own restore is that you get a real education on the tractor and
all of its components.

Not to mention you really know whether or not certain things were actually done!

 

[psrumors]

Oh I agree aegt5000 and 6chows! I was just letting ace know it can be done.

 

[parts man]

If you buy a tractor and truly restore it you can't get your money back!! You might be able to restore tractors for others on a labour basis though. It depends on if there are enough guys with the tractor bug and more money than time in your area. I know a guy who drops about $10K/ tractor to have his "restored". He replaces every seal and gasket, all the bearings and a complete engine rebuild. Then he tops it off by painting a bunch of parts the wrong color and puts on a chrome muffler!

 

[acepilot]

Maybe refurbishing is a better word for what I want to do. If the engine runs and doesn't burn or leak oil, I'd leave it alone. If the hydraulics work and don't leak, I'd leave it alone. Maybe I'm one of those slackers who calls a degreasing and a paint job a restoration. I guess it's terminology problems...You hearing what I think I said

Scott

 

[Holz Equipment]

Scott; You asked if anyone done restoration for profit, well the 8N on the left sold this week & will be picked up shortly after Christmas. It was my first complete restoration which I don’t figure I got rich on, but it sold for $6000.00. At least I got my feet wet, & I already have another 52 model ready to start on after the first of the year. After the first one you do, you get a better idea of what all is involved to do one as complete as we did this one.

Frank at Holz

 

[Ingersoll444]

I think your best bet would be sticking to one brand/model of tractor. You may lose money on the first ne, but as you get more and more experance, tools, information, thing will go faster, and easyer[ie more profit] Also with one brand/model, you can save a lot by buying old tired tractors to use as parts. Its the small, unseen nickel, and dime stuff that can kill you.

 

[bear]

i do a few restorations for other people. its very important that they understand the costs involved and realize they are spending more than the tractor or engine is worth in most cases. i insist on a deposit for parts and when that money is gone they need to give me more before any parts are ordered, labor is payed before it leaves my yard. also important that they know that these things take time.
as far as doing one of your own then selling for a profit its tough to do. best bet there is get them running or at least turning over and for tractors the tires holding air as most people like to do a little work on their own toys.
it is a fun way to make a little extra cash and help out your own collection and is much more enjoyable than fixing the new stuff