Things to consider when purchasing a previously owned machine.
The initial asking price for a rig usually is established pretty much by the market and the law of supply and demand. Some years ago, when oil prices were high and America was actively looking for oil, everything that could make hole was drilling shot holes, and rigs were at a premium. I looked at a lot of rigs that were sold because they were “drilled out” and needed major rebuilding to get them field-ready. Most of these rigs needed a major mud pump and/or compressor rebuild, a complete rotary or tophead rebuild AND a drawworks rebuild. A feller could put some serious money into a cheap rig!