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Midsize tractor bids
Values on used 85- to 100-hp. tractors had been flat for years. There was no heat in this segment of the used tractor market like there was with larger horsepower or four-wheel-drive tractors the last four to five years. Until recently.
Late last year and into early 2012, I began to see rising auction price premiums being paid for nice-condition used tractors in this 85- to 100-hp. range.
Here's an example. On a January 13 auction in north-central Iowa, a 1988 John Deere Model 4050 two-wheel-drive tractor (100 hp.) with 3,722 hours, a cab, Quad Range transmission, and no loader sold for $36,500. That was the second highest price I'd seen given for that model tractor in the past 16 years.
The very next day, January 14, a 1983 Deere Model 4050 two-wheel-drive tractor with 3,975 hours, cab, powershift, and no loader sold on a west-central Iowa farm auction for $44,000. That was a new record-high auction price, topping the old mark of $38,000 set back in 2008.
Price trend true out east
More proof of rising values come from all around the country.
On a January 12 sale in southeast Virginia, a 1991 Deere Model 2955 two-wheel-drive tractor with 7,500 hours, cab, and no loader sold for $16,000. Compare that to the 1990 Deere Model 2955 two-wheel-drive tractor with 5,626 hours, canopy, and no loader that sold for $11,750 in this same region back in December 2009.
And here's another example. In February 2012, a 1991 Deere Model 3155 front-wheel-drive tractor with 8,647 hours, cab, and a Model 265 loader sold for $23,000 in southeast Iowa.
Compare that to the 1990 Deere Model 3155 front-wheel-drive tractor with 8,531 hours, cab, and 265 loader that sold for $19,500 in April 2008.
Check out the data table on the previous page. These prices are not as red hot as the sales I see on very nice larger used tractors, but the prices are getting stronger. Examples include:
● $26,000 for the 1984 Deere 2950 front-wheel-drive tractor with 5,858 hours, cab, and Deere Model 265 loader that sold on a November 19, 2011, sale in southeast Iowa. That's the highest auction price I've seen on a such a tractor in over a decade!
● $35,000 bid for the 1992 Deere Model 3255 front-wheel-drive tractor with 1,489 hours, cab, and no loader that sold in February 2011 in northeast Indiana? That ties for the highest price I've seen going back to 1996.
More record-high auction prices include:
● $52,000 final bid given for a Deere Model 6410 front-wheel-drive tractor with 1,370 hours and Model 640 loader.
● $66,500 final bid for the 2005 Deere Model 6420 front-wheel-drive tractor with 375 hours and Model 640 loader.
What I love about my auction sale price data is the context it provides. Here's some fun context on Deere 6420s. The former record-high auction price was $62,500 on an August 2008 sale in northeast Iowa for a 2004 Model 6420 front-wheel-drive tractor with 330 hours and a Model 640 loader. The data showed this was a one-owner tractor that had been purchased new four years earlier back in 2004, with the loader, for $60,000.
Replayed Red Tractor Record
A red example of rising values can be seen in a June 2011 auction in southwest Minnesota where a 1992 Case IH 5230 two-wheel-drive tractor with 1,033 hours, no loader, and in excellent condition sold for $39,000. That ties the record auction price on a Case IH 5230 going back to November 1999 when a 1997 front-wheel-drive model with a loader sold at a sale in north-central Ohio for the same $39,000 amount.