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Auction prices strong down south

GREG PETERSON 01/25/2012 @ 8:18am Greg Peterson writes "Machinery Pete" column for Successful Farming magazine and appears on the Machinery Show on RFD-TV, talking about trends in the used equipment market

One thing I learned in Mississippi last week.

Used farm equipment in good condition sells well no matter where you are. Yes, some geographic differences for sure in used values, but demand appeared strong for good condition used items across equipment categories.

Take the pair of 2010 JD 8320R MFWD tractors sold on last Saturday’s dealer/consignment sale by Dewitt Auction Company I covered down in Corinth, MS. These tractors sold with special John Dealer financing to well qualified buyers and had 1,160 and 1,200 hours. What did the 8320R’s sell for?

$186,000. Same buyer took both. See for yourself in the Youtube video I posted with highlights from Saturday’s Mississippi auction:

Compare the $186,000 sale price for the Mississippi 8320R’s with 1,160 and 1,200 hours to the 2010 JD 8320R with only 452 hours sold on a December 10, 2011 dealer auction in west-central Missouri for $190,000. Looks like those Mississippi 8320R’s sold just fine.

More proof came from another farm auction in the southeastern U.S. last Saturday, an auction by Rich and Rich Auctioneers in southeast Virgina. A nice 1991 CaseIH 1660 4WD combine with 2,645 hours went for $37,250. That’s with NO heads, just the box. And this on an auction that suffered a rain delay due to heavy, heavy downpours at sale time. The H20 apparently didn’t hinder the bidding too much. Click on the link below to view all the auction sale prices I’ve compiled on CaseIH 1660 combines over the past few years:

A nice looking Massey Ferguson 1105 tractor sold on this southeast Virginia farm auction last Saturday to an online buyer from Vermont. Long ways away, but indicative of the strong buyer demand for good quality used equipment, tractors in particular.

Oh, and one more item from this Virginia auction: an old John Deere BWA 18 ½ foot disk with harrow sold for $2,600. That’s a full $1,000 higher than the next highest auction price I’ve seen on a JD BWA disk in the last 15-plus years!

Pete’s Point: if it’s in very good condition, chances are it’s going to sell high.

www.Machinerypete.com (1-yr. subscription $69.95; 1-week $10):

  • "Auction results" 294,424 sale price on ALL types of equipment. Updated daily
  • "Upcoming auctions" free searchable list of equipment on upcoming sales
  • "Dealer equip." free searchable list of equipment for sale by dealers
  • "Who Makes it?" searchable database of farm equipment Mfg's
  • "Classifieds" free place to list your used equipment for sale
  • Machinery Pete blog...see what Pete's yakking about
  • Machinery Pete's 2010 Auction Price Guide: $19.95, call 800-381-0423
  • Pete's new Facebook page
  • See the latest Agriculture.com columns from Pete

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