Watching planters, combines and dryers
Felt like it last Saturday afternoon as I stood at a nice farm retirement auction in south-central Minnesota. Up for sale was a 2009 JD 1770 NT CCS 16R-30 planter. Just three days earlier (December 2, 2009) I shot video of a 2009 JD 1770 NT CCS 16R-30 planter selling on farm retirement auction in north-central Iowa. Plus I had just received video from a farm auction in north-central Ohio on November 28th where a 2004 JD 1770 NT CCS 16R-30 planter sold.
I liked that deja vu feeling.
I'd really like it if I was bidding, or if I was an implement dealer trying to accurately value my used inventory, or an ag lender trying to assign asset values. Knowing what similar items just sold for on other sales is what I call being plugged in. The first half of December always provides plenty of opportunities to plug in.
Why is it important to be plugged in? Because used equipment values can and do change, both up and down. We know about the up part here the last three or four years. Will used values remain high? On all types of equipment? Across all geographic regions? Plug in and find out for yourself.
What will I be watching in December?
I'll be keeping a very close eye on late model combines, particularly three- to five-year-old models. I see a bunch coming up for sale on a series of very nice auctions here in the next two weeks. There is a big sale today (December 10, 2009) in south-central Nebraska that has 10 combines up for sale. I see another auction a week from today (December 17, 2009) in west-central Minnesota featuring eight Deere 70 Series combines.
Great buying opportunities, but even if you're not buying, it's good to keep an eye on what they sell for. I'll get all those combine sale prices and plug them into my data.
As I mentioned above, I'm also watching late-model planters closely right now, especially 16- and 24-row planters. More available for sale on dealer's used lots so what will they sell for at auction? Have prices dropped? How much? Click on these links below for some answers.