[AT] Antique tractors that are too expensive

[deanvp]

We have all been there on both sides. It has been the same since the creation. Sellers can ask whatever they so desire. IF and that is a big IF they really want to sell, eventualy a mutually acceptable price will be achieved.  I would like to say I have never bid too high at an auction but that would be an outright lie. But most of the time I have pretty good discipline. But it didn't take me very long to realize I wasn't going to make money in the antique tractor hobby. So I now have accepted that I am paying for some enjoyment of a hobby and some self satisfaction of taking something that hasn't run in 20 to 30 years and making it a functional again. I'm not into making trailer queens. All of my tractors know and do real work. But, after 20 years I finally have purchased a trailer queen. A 1935 JD B.  And I probably paid too much for it. But I now have a full sized tractor to take to the local shows in AZ in the winter. But, with all good plans, sometimes it doesn't work out as planned. There are two major issues to deal with here and that is where do I work on a tractor and where do I store all year around. My original offer was made that I would pay a certain amount on the condition that it could be stored and worked on where it was for at least a year. This was accepted by the son of a very good friend of mine here in AZ that passed away in November. He took my Cashiers check to his mother, my deceased friends wife, and she took the check but reneged on the agreement her son had made about storage. I just didn't have the stomach for trying to enforce the original agreement with a grieving widow. So now I am scrambling to arrange storage at a reasonable cost that I had originally built into my offer. In other words I am probably going to lose my ass. So you win some and you lose some. I may have to sell it this winter to mimize my losses.  I now have to do a new benefit vs cost assessment. Sent from my Verizon, Samsung Galaxy Tablet
-------- Original message --------From: szabelski at wildblue.net Date: 12/22/19  8:20 AM  (GMT-07:00) To: Antique Tractor Email Discussion Group <at at lists.antique-tractor.com> Subject: Re: [AT] Antique tractors that are too expensive If you’ve ever seen the show called Pawn Stars, you see people who always want above top dollar for what they carry in, and get upset when they are offered a fair price. This is even for things that they got at a garage sale for $10, and are offered $300 dollars for. They think that since they were told by the pawn shop owner the real value is somewhere between $300 and $500, they should get $500 for it. They don’t take into consideration that the pawn shop owner has to make money from reselling it and is actually tying up his money for possibly months.The same goes for a show called American Pickers. These are guys that drive around the country buying antiques for resale and are often asked to pay more than an item is worth because the owner thinks it’s worth more.When I go to auctions I always wind up passing on things I want because people will bid more for something that they could buy new with a warranty for less.Carl----- Original Message -----From: Spencer Yost <spencer at rdfarms.com>To: at at lists.antique-tractor.comSent: Sun, 22 Dec 2019 00:13:19 -0500 (EST)Subject: [AT] Antique tractors that are too expensiveWe have all seen it:  the tractor the seller is asking way too much for.  Or conversely; why buyers don’t show up for our obviously wonderful tractor that we post in EBay/Craigslist/whatever.So listening to podcasts tonight, I ran across a podcast that was discussing many things, including a discussion with a psychologist from Berkeley who was explaining the “endowment effect”. I was unaware of this. Though I had intuited it many times I did not know it was a “thing”.Long story short it explains why people often seem to ask way more for a tractor that I’m willing to pay.https://en.m.wikipedia.org/wiki/Endowment_effecthttps://scholar.google.com/scholar?hl=en&as_sdt=0%2C34&q=endowment+effect&oq=endowment+Interestingly, this is true regardless of how long they owned it or whether it had any other type (e.g. nostalgia) of value. Unfortunately, the podcast did not describe how I, the buyer, could negotiate my way around this.PS:   I will be that seller if I ever sell the Pacer. (-;SpencerSent from my iPhone_______________________________________________AT mailing listAT at lists.antique-tractor.comhttp://lists.antique-tractor.com/listinfo.cgi/at-antique-tractor.com
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