Hunting for Easter eggs
Back on March 1, 2008, I saw another 1994 model Ford-NH 8340 front-wheel assist tractor (106 horsepower) sell at auction. This time in northeast Missouri. That tractor had 3,850 hours and sold with a Ford 7410 loader. The tractor and loader sold for $30,000.
So I've seen two Ford-NH 8340s sold at auction in the last 19 days. An 8340 is kind of rare out there on the auction market, on the used equipment market in general. So to run across two nice ones in 19 days was kind of fun. I've always really enjoyed this aspect of collecting and compiling auction sale price data. . . uncovering those harder to find pieces of equipment and reporting on what they just sold for.
Like hunting for Easter eggs.
Here are a couple other recent examples. On March 13th, a JD 6715 tractor (105 horsepower), mechanical front-wheel drive with 800 hours sold for $43,500 on an auction in north-central Wisconsin. The next day (March 14th), a 2006 model JD 6715 mechanical front-wheel drive tractor in like new condition sold for $50,000 on a sale in northwest Ohio.
Or how about Wilson 41-foot grain trailers? I see tons of Wilson 42-foot grain trailers sell at auction. . . not so many 41-footers. Check out these recent auction sale prices on Wilson 41-footers.
$30,000: 2002 model, sold 3/7/08 in northwest Illinois
$18,000: 1994 model, sold 12/20/07 in west-central Illinois
$17,500: 1992 model, sold 3/13/08 in north-central Michigan
$9,000: 1983 model, sold 3/14/08 in northwest Ohio
See now this is good information. How does age of the piece of equipment affect value? How much more is a five-year-old model worth vs. a 25-year-old model? The sale prices tell the tale.
You can slice up the auction sale price data we compile in so many insightful ways. The examples I've listed shine the light on recent auction sale prices. What's it worth now? But I think it can also be extremely helpful to analyze these prices over time. What's it worth now vs. last year, three years ago, 10 years ago? Is a piece of equipment holding its value? Is it depreciating? How fast? Appreciating?
Let's go back to Ford-NH tractors and zero in on Ford-NH 8970s. Slightly over 200 horsepower, NH made 8970s from 1993 to 2000. Back on March 8, 2008, on a farm auction in southeast Kansas, a 1996 8970 with 4,600 hours sold for $60,000. It was mechanical front-wheel drive. Let's compare to other similar houred Ford-NH 8970s sold at auction over the years (each tractor listed was MFWD).
$60,000: 1996 model, 4,600 hours, sold 3/8/08 southeast Kansas
$40,100: 1995 model, 4,632 hours, sold 3/20/07 northwest Illinois
$35,500: 1998 model, 5,500 hours, sold 11/28/07 southeast South Dakota
$45,000: 1996 model, 3,540 hours, sold 4/7/06 southeast Minnesota
$50,000: 1998 model, 3,607 hours, sold 7/22/05 east-central North Dakota
$35,000: 1994 model, 5,786 hours, sold 2/5/04 northwest Kansas