Used combine values hold strong
My eyes were on northwest Texas yesterday.
An auction in Dalhart, TX by United Country -- Alliance Auction & Realty featuring a 2004 CaseIH 2388 combine with 2,290 engine hours. This sale and this combine were of keen interest to me for a couple reasons:
- Values on late-model used combines had been much stronger the 2nd ½ of 2011
- Calendar flipped to 2012, tax write off motivated buyers gone for now
- Texas drought conditions
Would the trend of strengthening values on later model used combines continue to hold?
Answer? Yep, it appears so. The 2004 CaseIH 2388 with 2,290 engine hours sold for $95,000 on the auction yesterday in northwest Texas. Very solid sale price I think. Compare for yourself by clicking on the link below showing auction sale prices I’ve compiled over the last seven years on later model CaseIH 2388 combines:
Notice how in the table of auction price I have separate calendar years by shaded color. Go back to 2006 and study what 2388’s with much lower hours were selling for at auction…$79,000, $91,000, $92,000 and $94,000. And what did that 2004 model with 2,290 engine hours sell for again yesterday on the auction in dusty and bone dry northwest Texas?
Shift your focus in the table of auction prices to 2011. See how prices surged higher. Like the 2004 model 2388 with 2,807 engine hours sold for $110,000 on the December 30, 2011 dealer auction in north-central Iowa. Nearly 3,000 engine hours, sold for $110,000. Very strong indeed.
Tracking the farm machinery auction market is a day to day endeavor. Will prices be up or down today? In what part of the country? This Saturday, January 14, 2012, we will be shooting video at two farm auctions featuring older Deere combines, a 1993 model JD 9400 with 3,543 engine hours on a sale near Rushville, IN and also a nice 1989 model JD 9500 with 5,208 engine hours on a farm auction in Garysburg, NC.
What will those combines sell for?
The North Carolina farm auction Saturday is headlined by a nice, clean, “1 owner” 1998 JD 7810 MFWD tractor with 4,036 hours. Here is a preview Youtube video I posted last night on this 7810 tractor:
www.Machinerypete.com (1-yr. subscription $69.95; 1-week $10):
- "Auction results" 292,747 sale price on ALL types of equipment. Updated daily
- "Upcoming auctions" free searchable list of equipment on upcoming sales
- "Dealer equip." free searchable list of equipment for sale by dealers
- "Who Makes it?" searchable database of farm equipment Mfg's
- "Classifieds" free place to list your used equipment for sale
- Machinery Pete blog...see what Pete's yakking about
- Machinery Pete's 2010 Auction Price Guide: $19.95, call 800-381-0423
- Pete's new Facebook page
- See the latest Agriculture.com columns from Pete