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 | TIM
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2001-08-31 31467
I am looking at a 1998 MF 1240 compact utility tractor with front wheel assist, fold down ROPS, 3 pt., 11.2-24 rear and 7-14 frt.tires, 1246 loaderW/5' bucket, tractor has only 263 hrs. What is the value of this setup? And what should I expect to pay at a public auction? Thanks TIM.
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 | Peters
Join Date: Feb 2002 Posts: 3034 Northern AL 
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2001-09-02 31514
Tim;
I looked at a new 1240 with all that included this spring that was a dealer demo >200hrs. He was asking 14.5 K. I purchased a JD 955 '99 for 11.5K with the same hours. The 955 has hydrostatic drive which increases the price slightly.
My guess is 11-12K market value, in this area, the southeast. You may go 1K higher up north. I would hold my bidding to ~10K as you may not know the history of the tractor and you want to be able to get you money out of the tractor at a later date.
At auction the price may go higher, people do not always know the value and at times will over bid. My advice is don't get caught up in the bidding, you do not want to pay over the dealer trade in price. You may have a list of unexpected repairs as the dealer may. There is no advantage to buying a machine at auction for dealer list price.
Peters ....
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