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Comparing auction prices

GREG PETERSON 07/28/2011 @ 1:50pm 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

Side-by-side comparisons are always interesting and informative. This page compares prices at an auction from January 2011 with another auction from January 2004. This comparison will shed light on the trend of used equipment significantly appreciating in value. The bottom line: Older is worth more money.

The first control factor in this comparison is type of auction. Both events were very nice farm auctions.

The second control variable is location. The January 12, 2011, farm sale was in Dana, Indiana. The January 15, 2004, sale was near the east-central Illinois town of Warrensburg, Illinois.

Tractors

Starting with the Deere 8100 two-wheel-drive tractors, at the January 2004 sale, a 1997 Model 8100 in good condition with 1,925 hours sold for $48,000. At the January 2011 sale, a 1998 8100 with 1,616 hours sold for $72,000. That is a full 50% higher than the similar 8100 tractor.

A 7-year-old Deere 8400 sold for $73,000 on the 2004 auction, while a 7-year-old newer Model 8420 went for $144,000 on the 2011 auction. That's double the money.

Combines

On the 2004 auction, a 5-year-old John Deere 9510 with 1,244 engine hours went for $62,500. On the 2011 sale, a 7-year-old 9560 STS with 1,230 engine hours brought $118,000.

Corn heads

On the 2004 auction, a 6-year-old Deere 693 corn head sold for $12,500. On the 2011 sale, a 7-year-old 693 corn head went for $25,500. Again, that's double the money.

Tillage items

The trend is even more pronounced with tillage items. A Case IH Model 496 disk sold for $5,700 on the 2004 auction; at the 2011 sale, the last bid was $13,000.

A John Deere 980 field cultivator sold for $9,000 in 2004 and $21,000 in 2011. Both items sold over double the money.

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