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A 6-figure Deere 8400 at auction

GREG PETERSON 09/22/2011 @ 11:07am Greg Peterson writes "Machinery Pete" column for Successful Farming magazine and appears on the Machinery Show on RFD-TV, talking about trends in the used equipment market

I knew this tractor would sell high. The question was how high?

A 1997 model John Deere 8400 mechanical front-wheel drive tractor with only 709 hours on it sold Monday (September 19, 2011) on a farm auction in north-central Illinois. My friend Dick McConville was the auctioneer. A 14-year old tractor with only 709 hours. Just don't find those every day, do you?

It sold for $104,000.

I've seen 243 JD 8400 tractors sell at auction over the last 15 years. How high is $104K? The second highest auction price I've ever seen and the highest in the U.S. The only higher auction sale price I've compiled on a JD 8400 came on a farm auction in south-central Ontario, Canada back on March 5, 2010. A 1997 model 8400 with only 544 "1 owner" hours sold for $112,500 (Canadian $$) on that sale.

I spoke with auctioneer Dick McConville today about the auction. He said a local dealer stopped by the week before the sale and told him he thought the JD 8400 could go as high as $105,000. Turns out he was pretty close. Here are a few other sale prices from Monday's auction in north-central Illinois:

  • 2007 JD 7630 MFWD tractor with 186 hours: $104,000
  • 1964 JD 4020 tractor with sprayer: $8,500
  • Axle duals off 1964 JD 4020 tractor: $1,300
  • 2008 Sterling LT8500 truck with 20' aluminum grain box, 8,738 miles: $93,000
  • 1999 JD 9610 combine with 1,814 engine hours: $65,500
  • 1992 JD 925 grain head: $8,200
  • JD 643 corn head: $5,000
  • Shoop corn reel for down corn, never used: $2,100
  • Brent 540 gravity wagon: $9,900
  • JD 7200 12R-30 planter, insecticide, herbicide, wing fold: $13,250
  • MC grain dryer, continuous flow, only 545 hours: $16,000
  • JD 712 9-shank chisel with NH3 knives on back: $5,600
  • JD 331 disk, 26': $3,650
  • JD 726 30' soil finisher: $22,750
  • JD 12' grain drill with grass seed: $600
  • JD X485 garden tractor with 524 hours: $5,000
  • Generac 5500 Watt generator: $550

Dick mentioned he just sold a 120 acre piece of ground last weekend for $9,900/acre. Hard to tell these days which is hotter...land values or used tractor values?


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