If you are on a budget, buying farm equipment at an auction is a great way to save money. At auctions, it’s typical to find good bargains where farmers can get high-quality equipment at a lower price than buying retail.
Try not to go to an auction blindsided. If you follow these three steps, you should be set:
Do your homework
If you are planning on buying farm equipment at an auction, it will help if you prepare beforehand. What do you want to buy? What is it worth new versus used? What is the quality, price and brand’s reputation like? There are several things to take into consideration while doing your research before attending an auction.
Look for warranty information
One important thing to look for at an auction is if the machinery has a warranty. Many pieces will have a warranty that covers a certain amount of usage hours. If you purchase fairly new farm equipment, you may still have some valuable warranty left, which is a nice perk.
Maintenance your farm equipment
Congrats! You purchased a new tractor, now be sure to take care of it to extend its life. Replace any batteries needed, watch for low tire pressure and manage other parts as needed. If you maintain your machinery, your purchase will be worth the money and you can keep it working longer.
One of the main reasons auctions are so popular is because they offer farmers a way to save money on purchases. Bidding on equipment can also be a fun experience, since you are seeing if you will “win” at the price you would like to pay.
Smith & Company sells everything from farm machinery to 3100 acre-ranches. Our experts will make sure that you are in the best position possible to find your desired results. Contact us today at 580-254-3975 with any questions you may have, we look forward to helping you!
