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Steel Deals: Canada Awash in Late-Model Used Combines
Several recent huge machinery auctions have brought both surprising as well as not so surprising results.
Lets start off with the not so surprising sales.
A Ritchie Brothers sale in Canada illustrates that that nation is also awash with low-hour, late-model combines. A total of 64 combines sold at this single event held August 6 in Saskatoon, Alberta.
There were a good many older combines on the block that day. But as is also the case in the US, there were a large number of late-model harvesters on block. In fact, twelve 2013 model year combines sold.
How fresh were these machines?
They carried an average of 475 engine hours and 336 separator hours.
But if you removed two of the combines which were likely custom harvester machines (due to their high hours), that average drops to 309 engine and 262 separator hours . . .on three-year-old machines!
Price wise (converted from Canadian to US dollars) final bids ranged from $114,285, given for a New Holland CR8090 with 636 separator hours, up to $232,380, paid for a Deere S680 with the 153 separator hours.
All told, three 2013 Deere S680s sold for an average of $226,030 while four Deere S670s sold for an average of $197,618.
How does that compare to US prices? About the same as was demonstrated at a July 30 auction held by Ritchie Brothers just west of Chicago.
At that sale seven 2013 Deere S680s sold for between $200,000 up to $235,000.
Also be sure to check out my dealer asking price analysis on late model Deere combines which appears in the September issue of Successful Farming magazine. You will be stunned, as I was when doing the research for that story, to discover how many very-very-low 2014 green combines are on the market right now.
Now how about that “surprise” in recent machined sales that I mention before?
Well that involves the sale of four vintage John Deere New Generation collector tractors which sold at Wieman Auctions' huge consignment sale held near Marion, South Dakota, August 5. Here are those tractors' final bids:
• 1972 Model 4020 – $17,750.
• 1969 Model 4020 – $15,500.
• 1972 Model 3020 – $15,000.
• 1969 model 3020 – $11,250.
Now those prices may sound high to you. And they are compared to what 4020s and 3020s were bringing 7 to 10 years ago when collectors first start snapping up these tractors. But then New Generation values, particularly for 3020s and 4020s, slumped significantly.
For example, I saw a completely restored 4020 sell for just $9,400 at a Wieman Auction sale in August 2013. That’s the tractor pictured above.
Yeah . . .I know. That’s the tractor “that got away” and which I should have bought.
Certainly the sale those four tractors indicates that New Generation tractors are hot again with collectors.