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High bids for used high horsepower

01/26/2011 @ 10:14am

The used tractor market is on fire.

That was the headline I posted on my blog at Machinerypete.com on December 3, 2010. I know, it’s a very strong statement, but I see smoke everywhere.

By smoke, I mean proof. Very strong auction prices on good used tractors were rolling in from all around the U.S. and Canada. Prices had already been very strong going back to July 2010. But things really intensified when commodity prices shot up late last year. Then factor in the annual rush of year-end tax that buyers were looking for in last-minute write-offs. Four-alarm fire, dead ahead.

I only have a page and a half here. That’s not room to list all the examples of high sale prices I’ve got. So here is a chronological list of auction prices from farm sales for you to chew on:

• November 13, 2010, northeast Kansas: A 1980 Deere 4440 with 5,777 hours sold for $29,750.

Another 4440 on this sale (a 1978 Quad Range with 5,454 hours) went for $27,500.

• November 16, 2010, east-central Nebraska: A 1997 Deere 8100 front-wheel drive (FWD) with 1,455 hours sold for $91,000 (a new record-high price I’ve seen on an 8100). A 1993 Deere 7800 FWD with 3,260 hours sold for $76,500 (third highest price ever).

• November 19, 2010, east-central North Dakota: A 2001 Caterpillar 85E with 2,934 hours sold for $114,000 (a new record).

• November 22, 2010, southwest Minnesota: A 1997 Deere 8300 FWD with 3,300 hours sold for $92,000, a new record-high price for the 330 Model 8300s I’ve seen sell over the last 15 years.

• November 22, 2010, west-central Illinois: A 1982 Allis-Chalmers 4W-305 tractor with 4,598 hours sold for $34,000. Another record-high price by $8,000.

• November 23, 2010, east-central Nebraska: A 2009 Deere 8130 FWD with 230 hours sold for $141,000. That’s a record-high price by $10,500.

• November 23, 2010, north-central Iowa: A 1995 Deere 7800 with 3,454 hours sold for $62,250. That’s the highest auction price I’ve seen on a 7800.

• November 27, 2010, west-central Illinois: A 1983 IHC 5288 FWD with 3,269 hours sold for $33,000. That’s the highest price I’ve seen on a 5288 in 12 years. A Case IH 7140 FWD with 3,980 hours sold for $57,000.

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