Brett Geoffrey Adams, 39, pleaded guilty in Horsham Magistrate's Court on August 22 to having handled stolen goods.

Magistrate Peter Couzens convicted and fined Adams $5000.

Mr Couzens said the penalty was a significant acknowledgement of the seriousness of the offence.

He noted that co-accused Colin Medley, of Horsham, had been sentenced to a suspended jail term for the matter and another co-accused, of Ballarat, would contest his involvement in the matter in Ballarat Magistrate's Court at a later date.

Police prosecutor Sergeant Guin Cleminson told the court that Adams told Medley that he wanted to buy a cheap bobcat in June 2011.

Medley said he knew someone who could get one.

Medley met the Ballarat man at a party on July 23 last year.

The Ballarat man said he could get a bobcat, so he and Medley telephoned Adams from the party and told Adams a bobcat would cost $4000.

The Ballarat man would receive $3500, while Medley would receive $500 for organising the transaction.

Sgt Cleminson said Medley knew that the Ballarat man stole items and sold them at a reduced price.

Medley arranged to meet Adams in Horsham and Adams said he would buy the bobcat.

The Ballarat man forwarded his bank account details by text message to Adams.

Sgt Cleminson said the Ballarat man stole a bobcat and gave it to Medley, who stored the bobcat at a Dooen work site.

Medley then offered to sell the bobcat to his boss, because Adams' $3500 deposit failed to clear.

Medley's boss estimated the bobcat was worth $25,000 to $30,000 and he became suspicious.

Medley's boss found details of the bobcat's owner on the vehicle and police were notified.

Adams told police on August 22, 2011 that he suspected the bobcat was stolen, because he knew its true value was about $25,000 and not the sale price he was offered.

Sgt Cleminson estimated the bobcat was worth $35,000.

Police later re-interviewed Adams and he admitted putting a cheque into the Ballarat man's bank account.

Defence solicitor Anita Ward said Adams wanted to buy a secondhand bobcat for his earthmoving business.

She said it was not unusual for Adams to buy legitimate secondhand equipment cheaply and he did not seek to deceive.

Ms Ward said Adams could only inspect the bobcat when it was inside the rear of an enclosed truck, so he could not see it properly.

She said Adams should have been smart enough to alert police and he had not intended to proceed with the transaction.