Fuel Tank Worth?

[GoldenMom]

I have an older fuel tank that was here when we bought the place 6 years ago. I have no idea what it may have held in the past; it has been empty for at least 6 years. It is a gravity type on a stand. I estimate that the tank will hold about 250-300 gallons (it is about 39" in diameter and 60" long). The stand is about 7-8' tall. I'm pretty sure it needs a new hose setup.

We have no need for the tank and it is in an inconvenient place. Any idea how much I should ask for it on Craig's List? I tried to find comparables on the local lists but didn't find anything similar.

[Lazy J]

I bought two at a farm auction for $5.

Jim

[Windy in Kansas]

Originally Posted by Lazy J

I bought two at a farm auction for $5. Jim

For that kind of money I'd buy them all day long just to salvage the angle iron in the frame of the stand.

Markets really vary on tanks and stands. Since the price of fuel has gone up there seems more demand. Have read of good ones going for more than $100.

Can't really give you any good words of wisdom on what to charge.

[Old Vet]

The last auction that I went to there was a 250 gallon tank with 50 gallons of fuel in it and it brought $300. I have seen some for more and some for less. but $200 is a good price if it isn't rusted out or have rust on the inside. If it does then $100 is a good price.

[Danaus29]

I've got a 275 gallon one with a bit of fuel oil in it currently for sale for $50. No responses in 3 days. I wish someone would buy it, the shut-off valve and fuel are worth the $50 and I really need to get rid of it.

[WolfWalksSoftly]

I would love to have one of those, but here they go for 150 to 200 if you can find one for sale.

[Ross]

Be sure whatever you sell it for that you write, As is with no warranty on the bill or something similar. You dont want to be held liable for any future leakage and cleanup costs.

[DaleK]

What are the laws in Iowa? Here the gravity type tanks have been illegal for a while now. The dealers here were selling all their older tanks last year for $1 each.

[GoldenMom]

I hadn't thought they might be illegal-I did a quick search on-line and didn't see anything specific. I did see a reference that said that gravity flow is illegal in most states, except for off-road and farm equipment use.

[PNP Katahdins]

Sarah, have someone call the state fire marshall's office for you. The URL is http://www.dps.state.ia.us/fm/index.shtml or maybe that website will answer some questions for you.

It looks like they deal with aboveground petroleum storage tanks (ASTs) in Iowa. Your DNR deals with underground tanks (USTs). Every state is different as to who deals with fuel storage issues. I worked for a similar office in Wisconsin at one time but we dealt with both ASTs and USTs.

We have a similar tank here on our farm but it is small and not in the way. It held tractor fuel at one time. Abandoned (no longer used) private tanks are common all over this country.

Peg

[Beeman]

I bought the one I had for $20. Painted it and used it for waste motor oil storage for years. Then sold it for $75 to someone wanting to keep diesel for his tractors.

[Pouncer]

If the tank is sound, and has no evidence of leaks, they typically sell for between one third and half of new on stands in my area (Alaska-where they are used a LOT). Find a tank manufacturer and ask them what they sell for in your area. Or, you can call a fuel company and let them know you have it and are willing to part with it.

With as much farming as done in Iowa, I would think you'd be able to sell it relatively easily-especially if you have some way to load it for people.

[Pouncer]

Oh and I forogt....39 inches by 60 inches for a round tank, is 300 gallons