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Iowa machinery auction observations

GREG PETERSON 08/02/2012 @ 8:03am 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

Quite an auction I covered today (Aug. 1, 2012).

The sale was for Pinicon Farm in McIntire, IA, a large farm operation located near the Iowa/Minnesota state line, call it north-central Iowa. Very high level of big late-model equipment on this auction, including (2) 36-Row Planters. Here’s a YouTube video I posted this evening with highlights from today’s farm sale:

The “smaller” planter on today’s auction was the 2009 Kinze 3700 24R-30, which as you saw in the video sold for $60,000. How does that compare to other Kinze 3700 24R-30 planters sold at auction? See for yourself by clicking on the link below:

Pete’s Auction Prices on Kinze 3700 Planters

You’ll note the 2004 model Kinze 3700 24R-30 sold for $67,000 on the December 30, 2011 auction also in north-central Iowa. Why $7,000 higher? Well, that was late December, before any talk of 2012 drought. Of course late December was also prime time for year-end “tax buyers”, those folks iron shopping for last minute tax write offs against their 2011 farm income.

So it sold for $7,000 more.

Thursday, August 2nd I will be southwest of Chicago, in Morris, IL covering a very large Ritchie Bros. Auctioneers consignment sale featuring the most agricultural equipment they’ve ever had on a sale at that particular RB Auction site. Over 50 combines on this auction. Should be an interesting sale. Here is an auction preview video I posted looking at this Ritchie Bros. Chicago area sale and specifically a CaseIH 7088 combine and the (12) JD 9870 STS combines on this sale: