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Tractor Talk Discussion Forum

Do you keep accurate tabs on resto costs ???

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Scrounger

06-06-2005 20:24:03




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Just wondering how many guys keep real accurate records of all the costs they've incurred while restoring a tractor. I think all of us know what the major stuff costs be it engine overhaul etc. But what about all the little stuff that a guy seems to be constantly spending pocket money on? I try my best to do all of that and enter each expenditure, then the running total. Guess it doesn't really make any difference but it is an interesting part of the hobby. Sort of like keeping a cost diary.

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51Pony

06-07-2005 17:25:08




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Scrounger, 06-06-2005 20:24:03  
Nope, I don't track the costs on keeping the Pony going. It was Dad's and he's gone now. Don't matter what its going to take from now on.



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dr.sportster

06-07-2005 13:24:53




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Scrounger, 06-06-2005 20:24:03  
I keep it all in a file that Im never going to look at.I dont keep track of labor times because its a fun hobby and what I want to be doing in spare time instead of stuck to some bar stool.Once I added up my racing motorcycle and it came to 12,ooo about what I could sell it for due to Harley inflation.Im fortunate because my wife does not criticize stupid spending much.



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Dan

06-07-2005 11:51:24




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Scrounger, 06-06-2005 20:24:03  
third party image

I keep an Excel document on all three tractors I have fixed up that has every cost incurred down to nuts and bolts and oil. It is discouraging to see that the $5k you spent on your 48 8N will increase its value to around $3,500 if you are lucky. Good for me it is a hobby I thouroughly enjoy and not a profit making venture...

Here is my 48 8N completed, and a link on the bottom to my current "Project" tractor.

Dan

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p55

06-07-2005 10:49:08




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Scrounger, 06-06-2005 20:24:03  
Yes, I keep all the receipts and bills on a project. I staple them all together where the costs show up so that I can't see them . That way, I'm not so inclined to start adding them all up to see how much I spent. I'm more likley to start another project of my own if I don't know how much I spent on the last one.
Rick



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James2

06-07-2005 09:56:14




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Scrounger, 06-06-2005 20:24:03  
Yes I did a couple of times and it has cured me of that inclination. Bought a JD 830 from Canada which ran OK for $3,500 and had a pony which would start the main engine, but just barely. Went thru it and spent another $14,500 not including paint. Did the same thing on a electric start JD 730 from Iowa. Bought reasonable and have about $18,000 in it too. I now have a Farmall A in which I'll probably have $5,000. Bought it and an aftermarket loader for $600. Good thing I don't have a hundered tractors!

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big fred

06-07-2005 09:17:13




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Scrounger, 06-06-2005 20:24:03  
Nope, don't see any point in it. That'd be kinda like a drinker keepin' track of how much he's spent in bars. Ain't no good could ever come of it.



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Red Dave

06-07-2005 07:53:38




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Scrounger, 06-06-2005 20:24:03  
NO!
I don't want to lie to my wife when she asks how much I spent on it. This way I can honestly say "I don't know".

That's my story and I'm stickin' to it.



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Mike M

06-07-2005 05:34:57




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Scrounger, 06-06-2005 20:24:03  
I have always keep most of my receipts and totaled them when I was done and keep them in a file for that tractor. Parts are way higher today than when I did most of mine so my bills don't look too bad,except for the 720 D. Now on labor I have never ever even tried to keep track of this ! I can only hope that when they get sold off if I'm here or gone that whoever gets them has a clue of how throughly they have been rebuilt.

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Paul in Mich

06-07-2005 05:26:41




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Scrounger, 06-06-2005 20:24:03  
Scrounger, I don"t even want to know. Besides if I did, then I"d have to lie to the Missus when she asked how much money I"m sinking into my toys. Better, (for me anyway) to let sleeping dogs sleep.



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Mike (WA)

06-07-2005 08:05:53




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Paul in Mich, 06-07-2005 05:26:41  
I'm with you- first thing I thought of when I read the post was, "Who wants to leave written evidence laying around?" It's a little like going to the gas station these days- I always say "no" to the receipt- the only thing worse than paying $2+ for gas is having a lasting reminder of the experience.



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RustyFarmall

06-07-2005 04:46:57




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Scrounger, 06-06-2005 20:24:03  
I don"t keep accurate records. I save all of the reciepts, but never total all of them up. I don"t want to know. The peace of mind and satisfaction I get from making that hunk of rusty iron useful again far outweighs the expense of visiting a head doctor, and I know I spend less money on my tractors than I would if I were to take up golf or going to the bars.



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Dave 2N

06-07-2005 09:28:12




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 Re: Do you keep accurate tabs on resto costs ??? in reply to RustyFarmall, 06-07-2005 04:46:57  
And you are absolutely correct about all of that!!! Good post!



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Stan - Florida

06-07-2005 04:42:19




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Scrounger, 06-06-2005 20:24:03  
When I bought my '41 John Deere B, an old timer told me to multiply the cost by 10 and that's how much I'd have in it when I got done. Glad I didn't pay much for it, as he was so close it wasn't funny.

Yes, I did keep track of expenses...wish I hadn't.

Stan



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Les

06-07-2005 04:16:14




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 No, but I should have in reply to Scrounger, 06-06-2005 20:24:03  
Might stop me from doing it again.
";^)



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3010 Ken

06-07-2005 04:03:29




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Scrounger, 06-06-2005 20:24:03  
Morning Scrounger;I did that for a while with mine.I don't have a show tractor,but a working tractor.I try to mentally console myself with the thought that I don't make payments on it every month and it has'nt yet cost me as much as the new tractor of my dreams in the brochure I grab at the dealer when I spend a serious amount of money on a small sack of parts.I like fixing it up though!!Kenny



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Dave 2N

06-07-2005 03:59:57




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Scrounger, 06-06-2005 20:24:03  
Same with me as what Fawteen said below; I have a general idea but it's one of those things you really don't want to look too closely at.



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Fawteen

06-07-2005 03:24:32




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Scrounger, 06-06-2005 20:24:03  
I did that once. Scared me so bad, I swore I'd never do it again.



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Larry in CO

06-06-2005 20:54:12




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Scrounger, 06-06-2005 20:24:03  
Yeah, I did and it turned out to be way more than what I had estimated before starting. Bought a '46 Farmall H for $850 and by the time I was done with it, I had $3000 in it. Never figured I would spend that much on it and never even touch the motor. The little stuff adds up whether you believe it or not. Larry

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Farmered

06-07-2005 01:56:10




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 Re: Do you keep accurate tabs on resto costs ??? in reply to Larry in CO, 06-06-2005 20:54:12  
Where are you in Colo.? Would like to visit/communicate with you. I am way up North in Colorado near Cheyenne. I am not near as far along with my eightch but I have a good start on it.



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