Everyone grumbles about auctions but machines coming through auctions are supposed to be free from liens and incombrances, not always true but helpful in the event of a stolen machine, my bank tells me to have paperwork to back it up, if its coming from a dealer or auction you have someone who you can go back on to collect or attempt to collect money from and go after for selling stolen equipment if someone would knock on your door and demand a piece you own back because its stolen, if you buy from an individual then good luck, my bankers tell me to not buy from any individual or sell directly to any individual either I've gotten hooked on the selling end not from stolen machines but damaged machines and the new owner put a stop payment on the check after they totaled the machine out in an accident, a total paperwork and legal nightmare, if your selling it to an individual then its cash, green money, certified check, or wire transfer and after the funds are accounted for documentation of the time and date it left along with a serial number of the machine being sold and have the buyers signature on the receit along with yours, the more people who sign something the better. I guess I'd opt to trade at a dealer or buy and sell through an auction and after the all above mentioned was done for checking on titles pay for the item. I tend to be conservative and keep my machines a long time, it saves headaches in the long run over ownership and such things
As for titles of vehicles thats not always the case, I bought a trailer a few years back used from a dealer in hew hampshire and the trailer was originally made in another state and back then they had no titles only a bill of sale and I had a devil of a time getting it liscened back in my state, theres a lot of states that don't require titles to liscense stuff so thats not always the case anyhow for used.
I've personally know of at least three cases of stolen and swapped serial numbers on equipment scams going around and people who got taken with stuff that was stolen and ended up without machines because someone stole the serial number tag off their combine or documented the wrong serial number on the paperwork when they purchased the machine new, I always look to compare the serial number on any paperwork so that it matches exactly the serial number on the machine or vin on the vehicle. I'd never buy any machine that had a serial number that couldn't be read or was damaged in any way, those are a nightmare waiting to happen, I also keep records of all the machines and their serial numbers in case of damage or theft, none of which I've ever needed as of yet but I've got records of. The percentage of stolen machines floating around on auction yards and job sites is a lot higher than most realize and most are in the hands of people who have no idea it was ever stolen and have owned them for years. The amount that are ever recovered are about slim to none, the computer age and lojack has helped a lot but even those are not a secure system, like I told the dealer braggging them up, let me guess the thieves are not smart enough to ever figure out how to get around those systems? My motto is, if it has value someone will steal it and thats why you have insurance, to help out somewhat in the case of it getting stolen or destroyed and also take out a loan on it, they will do a lot of the paperwork for you and if it turns out stolen later on down the road you have another entity to go after because they didn't do their job, its not always a bad thing to have a lot of people or entities involved with a purchase, the more people or business's involved the less likely you'll get taken in the end and if so theres a lot of people responsible and have to answer questions also. Its a subject not talked about but it happens everyday and theres a lot of people out there with experience if you can get them to talk and tell you what where when and how to avoid the problems, excellent post and comments.