For the stars of Gold Rush, buying new equipment is always a gamble. On one hand, you could be spending a few million dollars on new machinery. On the other hand, though, you could be raking in double the amount twice as quickly if you get permits to mine in the right location.
And sometimes, having flashy new equipment can help win landowners over because they see evidence of your success. It’s a tough shot to call because there’s no middle ground. You either win big or find yourself in the deep red.
Understandably, this is why it takes the stars of Gold Rush so long to decide either to keep their old machinery or venture for a new model. In the show’s recap on Twitter, it seems Tony Beets was leaning towards the latter. Hailing from Holland, Beets is no rookie miner. In fact, he’s been unearthing precious metals since 1984. Throughout his career on the show, Beets has created a net worth of more than $15 million. In 2018, Beets dug up 3,600 ounces of gold. All of his varied success has made him the wealthiest miner on the show.
With a stellar record, you may think Beets doesn’t have too much to worry about when it comes to spending a little dough. But in the video, the Gold Rush miner is looking to spend upwards of $2 million on a new Caterpillar D11 bulldozer. In the dead of winter in Klondike, Yukon, with an 850 horsepower engine and over 229,000 pounds, a dozer like this could make a huge difference in productivity.
“There’s just no comparison,” Beets said, comparing the new D11 to the D10s he’d been using.
See Beets take a test-drive of the new machinery in a clip from Gold Rush.
Fellow ‘Gold Rush’ Star Parker Schnabel Loses Big Time with New Equipment Costs
While the new bulldozer might seem promising during the test drive, as Gold Rush stars well know, things aren’t always as they seem, especially as you dig deeper below the surface. Sometimes, you find exactly what you’re looking for, and other times, you’re sorely mistaken. Unfortunately for the youngest miner on the show, Parker Schnabel, he had to relearn this lesson after making a couple of hefty purchases.
In 2018, Schnabel bought two new D10 bulldozers — one at $1.5 million and the other at $1 million. With the new machinery, the Gold Rush star was initially optimistic about his season, hoping to find more than $3 million worth of gold to make up for his equipment and licensing costs. However, Schnabel soon found out that his chances of breaking even, let alone making a profit, were very slim.
“I’m pretty just disgusted with the whole situation,” Schnabel admitted on a Gold Rush episode.
Just moments later, Schnabel’s dozer began to catch fire from moss that became trapped beside the engine. Thankfully, Schnabel and a crew member were able to douse the flames in water before seriously damaging the bulldozer.
“We almost just watched a million and a half bucks burn to the ground,” Schnabel said.