Comparing prices on 100 horsepower tractors
The mom from the old TV show "Father Knows Best", actress Jane Wyatt, passed away earlier this week. I was sorry to hear the news as I used to watch the syndicated reruns on TV as a kid.
She seemed like a good mom.
Another old TV rerun I used to watch was "Dragnet". Good old Joe Friday. "Just the facts ma'am." I often think of Joe in my line of work. Folks email or call and ask, "Hey Pete, what's this piece of equipment worth?"
Without a badge to polish or a detective hat to tug on, I faithfully go through my own version of Joe Friday's line of questioning.
What is the make & model?
What year is it?
How many hours on it?
What condition is it in?
What does it have for specs.?
Knowing these facts, we can begin to narrow down what that piece of used farm equipment is worth. Let's use 100 horsepower tractors for example. In this case, we need to address a few additional questions to better determine value.
Does the tractor have a loader with it?
Is the tractor two-wheel drive or front-wheel assist?
Does it have a cab?
What does it have for tires?
Take JD 7410 tractors. I've seen (21) 7410s sell at auction since the start of 2005. By plugging in different combinations, loader/no loader, 2WD/MFWD, good condition/excellent/fair condition, 3,500 hours/8,000 hours, we can pinpoint current value.
A bit more investigative digging helps to bring the picture into sharper focus. It helps to know the mechanical front-wheel drive option added $5,000 to the base cost of a new JD 7410 back in 1997 to 2000 when they were made. So we can assume the mechanical front-wheel drive option is worth a bit less than $5K today on the used market for 7410s.
How about the loader, what's it worth?
Good question. Note in our auction sale price data on JD 7410 tractors, how many listed sold with a model 740 loader. Check out our facts on JD 740 loader values.
Average auction price this year: $5,113
Average auction price last year: $6,681
Average auction price two years ago: $5,400
Average auction price three years ago: $5,794
Average auction price four years ago: $4,883
Average auction price five years ago: $6,250
Average dealer advertised price this year: $8,242
Average dealer advertised price last year: $6,713
Average dealer advertised price five years ago: $7,150
Ok, now you know how much the loader adds to the equation. What's left to compare? Well, if I'm in the market to buy a 100 horsepower tractor, I'd certainly be interested to compare newer and older model Deere tractors, plus other makes.
Joe Friday, er, Machinery Pete's got you covered folks. Click on the links below to view additional auction sale price data on various makes & models of 100 horsepower range tractors.
Click here to download a PDF with expanded auction price data on John Deere 7420 tractors.