Bear in mind that the Ford 8N is a seventy year old design based on an eighty year old design. They're popular because of their small size and simplicity, but they aren't very powerful and lack live hydraulics. The 800 series, although only a few years newer, is a much more modern design and quite a bit more powerful. There are several models in the 800 series: if it has a four speed transmission it is an 840. An 850 will have a five speed transmission and the most desirable model is the 860 which has a five speed transmission and live PTO.
Assuming your neighbor's tractor has a five speed transmission and is in good running condition with decent tires, $4200 sounds about right with the loader. The rear blade doesn't add much to the value unless it's a heavy-duty one. It's possible to repair the power steering, but it probably needs more than just a new pump. You'll find posts in the Ford forum on this topic.
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Today's Featured Article - A Brief History of Tractors in Australia - by Bob Kavanagh. After Captain Cook's exploration of the east coast in 1770 the British Government decided to establish a penal colony in Australia. The first fleet arrived in 1788 and consisted mainly of convicts who were poorly equipped and new little of farming techniques. The colony remained far from self-supporting and it was not until the early 1800's that things started to improve. Free settlers started to arrive, they followed the explorers across the mountains and where land was suitable set up farms. T
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