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I am looking at an old John Deere Industrial 400 loader(no backhoe). The sheet metal is in really rough shape and it has a few small leaks. I can't tell how many hours are on it and the owner has no clue when the meter stopped working. The engine starts and runs great. It has to warm up for about 3 minutes before the loader lifts smoothly. What would be a fair price? I have no idea. I appreciate your help.
 

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When one considers the purchase of an older piece of industrial machinery I'd be very hesitant if any hyd problems exist. Closed-center hyd's such as the JD 400 has can be very troublesome to repair especially if buyer isn't very knowledgeable of the JD closed center system. Is hyd oil clear or milky? Does hyd reverser(if equipped) operate properly? Do hyd's operate properly at operating temp(200°F)?

Another concern is how well the engine coolant has been serviced. Coolant with wrong PH can cause engine cylinder liners to have cavitation causing coolant to enter crankcase.
 
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