$60K for 16-year-old combine
Yesterday (August 13, 2008) on a farm auction in north-central Iowa, a JD 1992 9500 combine sold for $60,000.
It had 1,867 engine hours, big engine, Mauer tank extension, long auger, 1,124 separator hours. It also had one year of use since $6,000 was spent on it through the local shop. This combine selling for $60K is hard proof of how very competitive things are in the used combine market right now.
Want a new combine? Sorry, too late, they're sold out through 2009.
Looking for a really good used combine? Good luck in your search. Just aren't that many farm auctions around now. There haven't been many going back for over a full year now. At least compared to the number of auctions we're all used to seeing.
How high is $60K for a 16-year-old combine? See for yourself.
Click on this link to pull up all the 1992 John Deere 9500 combines I've seen sold at auction going back 10 years to 1998.
Pretty big list, isn't it? Note that $60K is the second highest sale price I've seen going all the way back to 2001. The highest seller came on November 28, 2006, at an auction in southeast Nebraska, where a 1992 9500 with 1,334 engine hours sold for $67,000. Late November 2006, exactly when used farm equipment values began to spike higher.
They haven't stopped rising since.
Look at the other 1992 JD 9500 combine sold in north-central Iowa last month, on July 12, 2008. It had 2,485 engine hours and was in excellent condition. It brought $55,750. More from this north-central Iowa region, on July 16, 2008, I saw a 2006 JD 9660 STS combine with 612 engine hours sell for $181,000.
Wasn't Iowa way too wet this spring/early summer?
No matter. The used combine market and the broader used farm equipment market is just extremely tight right now, resulting in aggressive bidding and higher sale prices across all of North America.
Here are a couple more highlights from the auction yesterday (Click on highlighted pieces of equipment below to view additional auction price data on that item):
1995 JD 8300 MFWD tractor, 1,852 hours: $83,000
1990 JD 4455 2WD tractor, 3,414 hours: $43,750
Farmall Super MTA tractor, repainted: $10,000
AC D15 tractor, gas, WF, Woods L306 mower: $4,300
IHC 560 tractor, diesel: $3,550
JD 7300 12R-30 planter: $12,750
MC 6R-30 stalk chopper: $6,800
JD 400 12R-30 rotary hoe, flat fold: $3,700
JD 1517 batwing mower: $6,700
Wildcat 8-foot snowblower: $4,000
1990 JD 653A 6R-30 row crop head: $4,200
1993 JD 643 6R-30 corn head: $4,900
1999 J&M 525 grain cart: $11,900
1976 Ford 750 truck, 16' wood box, hoist: $2,600