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If you are trying to decide between using a tree, logs, or another raw wood source that you have and lumber that I have available, here are a few thoughts that might help you:
Most yard trees, including black walnut, are not worth anything as a standing tree until they are taken down and turned into lumber. The cost of equipment and personnel for tree removal normally exceeds the value of the lumber within the tree. However, the value of the tree to the owner often exceeds the so-called market value.
Commercial timber buyers like to fill at least a couple of semi-trucks with logs in order for them to justify the cost of a cutting crew. In other words, they will not even look at yard trees.
In addition, trees in a yard, next to a house, or along the lot line, have an extremely high chance of having nails, screws, clothesline hooks, porcelain insulators, and other assorted hardware in them. Non-wood items damage saw blades, ruin lumber, and take extra time to deal with.
I will sometimes purchase logs that are delivered to me and meet my current specs. Always call and ask questions. Logs cannot be from commercial harvest operations, they must be what I consider reclaimed.
Reclaimed timber is wood recovered from a tree removed for reasons other than its lumber value. In other words, the timber comes from building sites, storm damage, road expansions, yard clearings, homeowners, tree services, and old barn wood.
Red Oak, White Oak, Sugar Maple, Silver Maple, Osage Orange, Weeping Willow, Black Walnut, Honey Locust, Black Locust, Elm, Sycamore, Box Elder, Cherry, Spruce, Pine and Ash.