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Discussion Starter #1
Neighbors auction. Big, clean, low use iron.

 

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It is amazing how low the resale typically is on big planters.
I thought the db’s Would have brought more than that. How much hp do guys typically use to pull those 90’ers?
 

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Discussion Starter #3
He was dragging it around with that 9560T. 36 rows are pretty uncommon around here. Most guys that tried them went back to 24 rows. 16 and 24 are the most common now. That was a pretty soft sale in my opinion, really hard on tillage equipment but once again that big stuff doesn't do well here.

The guy only farmed 14-1500 acres, always bought the biggest and traded constantly. The one 36 row planter just showed up this October, he never pulled it in the field and the auction was booked in August. This was just the line of machinery he was using, its not even the tip of the iceberg as to what he has around there.

Its one of those deals where all the locals have wonder for years how he can do it. Still a mystery. And he is back buying iron already.
 

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Looking at grain trailers. Not that those would work for us. Just curious if those trailers sold for new money? Or how much of a discount from new?
 

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I'm not 100% sure on new price, guy that hauls for me says $60k, another guy says $50k new so somewhere in the middle. The caveat is there's a 12% federal excise tax on new that you don't pay on used so realistically one could pay new price and still save 12%.
 

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I'm not 100% sure on new price, guy that hauls for me says $60k, another guy says $50k new so somewhere in the middle. The caveat is there's a 12% federal excise tax on new that you don't pay on used so realistically one could pay new price and still save 12%.
So as a business you pay the 12% excise and can't claim it back?

Up here we pay 5% gst (sales tax) but can claim it back on business purchases. Most inputs like fertilizer, spray and feed are exempt. Just curious. I have bought used equipment (no new) in the states but never been charged a sales tax on it.
 

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That 95 International dump truck went pretty high compared to the other one.
 

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So as a business you pay the 12% excise and can't claim it back?

Up here we pay 5% gst (sales tax) but can claim it back on business purchases. Most inputs like fertilizer, spray and feed are exempt. Just curious. I have bought used equipment (no new) in the states but never been charged a sales tax on it.
I assume the 12% can be deducted from federal taxes or at least would go to the total cost of the unit and be depreciated. The way I understand it is the 12% excise tax applies only to new semi trucks/trailers, it does not apply to used semi trucks/trailers. There is no sales tax for qualifying farm equipment but there is an exemption form. Semi trucks/trailers are not qualifying farm equipment.
 

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That certainly isn't fair as far as a farm theme goes to be slapped with that tax but expect as a result that makes the used truck and trailer market more appealing and almost new trailers such as on this sale get attention. As Dan pointed out such equipment in Canada is taxed initially just like buying any parts for farm equipment as an example and then have to claim the tax back.
 
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