You are here

Small auctions, good equipment

Good stuff, just not much of it.

I'm sure you've run across the upcoming auction sale bills I'm talking about. Very nice equipment, just not what we traditionally consider a full line of farm equipment. Actually, the rise of these smaller farm machinery auctions is one of the biggest trends I've noticed in the last 6 to 12 months.

Instead of all the tractors, tillage, trucks and harvest equipment you'd see on a traditional retirement auction, these smaller auctions will feature a couple tractors, a grain cart, truck and few other items. We're talking 10 to 20 pieces of equipment for sale vs. more like 40 or more items on traditional sales.

Could be a lot of reasons we're seeing more and more small machinery auctions like this. Maybe guys have been slowly getting out of farming over the last few years, renting out more acres and just kept a minimum line of equipment for what they needed.

A good example of a small machinery auction like this was Sullivan Auctioneers sale June 14, 2008, in Rushville, Illinois. What caught my eye on that sale was the 1991 JD 4455 two-wheel drive tractor with only 1,457 actual hours. It sold for $47,500.

While these smaller machinery auctions may at first blush seem to possibly dissuade buyers from coming to the sale, ('Why should I drive two hours or more when there are only 14 items up for sale?') I'm finding the opposite to be true.

These small auctions actually tend to drag in buyers. Maybe it's the sense that things will get right down to business. No need to stand around all day. If you came to bid on that JD 4455, well by gosh, it will go up for sale here real quick. The Internet and live Internet bidding also help these small auctions.

The auctioneers main job is to attract buyer interest. With the used equipment market being as tight as it has been, even these small auctions featuring just a few pieces of equipment will catch the attention of potential buyers. Even if those buyers are to two, three, or four states away.

If the equipment for sale is good stuff, buyers will come ready to bid.

Click here to download additional sale price data on John Deere 4455 tractors sold at auction.

Good stuff, just not much of it.

Read more about

Machinery Talk

Most Recent Poll

Which device do you feel is most vulnerable to a cyber attack?