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Used equipment values now versus 10 years ago

Agriculture.com Staff 10/25/2007 @ 1:00pm

$9,100 seemed kind of high.

For what? For a Case IH 496 25-foot disk sold on a farm auction in north-central Michigan October 11, 2007. Last week I received the faxed sale price report on this auction. I got poking through our auction results price database on Case IH 496 disks and here's what I found.

Going back 11 years, there were 307 reported sales on Case IH 496 disks. Only one 496 disk sold for more money this year ($9,500 for a 28'7'' 496 disk sold in east-central Nebraska in early February). Only five 496s sold for more money last year.

Then I kept digging.

For kicks I got to comparing auction sale prices from this year to 10 years ago, 1997. Pretty interesting stuff. I've pulled out a few other items that sold at the farm auction on October 11th in north-central Michigan: a JD 4240 tractor, a Vermeer R23 rake, a NH 499 haybine, a JD 750 drill and a Kilbros 385 gravity wagon. I've provided links below that will allow you to compare for yourself.

What's it worth now vs. what it was worth 10 years ago.

I think what you'll find if you study these numbers just a bit is there really isn't much difference in what things are selling for now vs. 10 years back. Look at the example of the Vermeer R23 rakes I've provided. On the recent farm auction in north-central Michigan, a 1989 model R23 rake in excellent condition sold for $6,300.

Now see what a 1991 model R23, also in excellent condition sold for back in 1997 on a sale in southeast Kansas: $6,900. Remember now, that rake was only six years old at the time. The R23 rake that just sold on the Michigan auction was 18 years old. Yet, it sold for a mere $600 less.

This data tells me definitively that an investment in good quality used farm equipment has been a very good one over the last 10 years.

Click here to download a PDF with expanded auction price data on Case IH 496 disks: 2007.

Click here to download a PDF with expanded auction price data on Case IH 496 disks: 1997.

Click here to download a PDF with expanded auction price data on John Deere 4240 tractors: 2007.

Click here to download a PDF with expanded auction price data on John Deere 4240 tractors: 1997.

Click here to download a PDF with expanded auction price data on Vermeer R23 rakes: 2007.

Click here to download a PDF with expanded auction price data on Vermeer R23 rakes: 1997.

Click here to download a PDF with expanded auction price data on NH 499 haybines: 2007.

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