Kieran Coughlan: Watch out for capital gains on the sale of vintage machinery

It is always worthwhile considering the tax outcomes of such a sale

Tractor runs, like this one in aid of Pieta House pictured passing Tragumna, West Cork, in August, have become increasingly popular in recent years. Picture: David Patterson

There have been some outstanding prices paid for vintage machinery at auctions over the past few years, with some tractors fetching many multiples of the price originally paid for the machine when bought new decades previously.

Two recent examples from separate auctions of Ford 7000 tractors making in excess of €20,000 spring to mind. These particular tractors sit at the pinnacle of nostalgia for an older cohort of farmers.