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Record prices fall on Illinois auction

GREG PETERSON 12/13/2012 @ 9:31am 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

Records were made to be broken.

But were they meant to be annihilated? Apparently so, as I witnessed yesterday at a farm auction in Genoa, Illinois, where a 2000 JD 8310 tractor sold for an amazing $46,000 over the previous record-high auction sale price I had documented. It was a beautiful, low-hour (1,209 hours), one-owner tractor, selling on an estate auction in mid-December with year-end tax buyers on the hunt.

This 2000 JD 8310 tractor with 1,209 hours sold for a new record auction price of $151,000 on a December 12, 2012, farm estate auction in Genoa, Illinois.

Previous high auction sale price I’d seen paid for a JD 8310 tractor was $105,000, twice; first on a November 19, 2010, farm auction in east-central Iowa for a 2000 Model 8310 with 1,900 hours. A second JD 8310 sold for $105,000 on a more recent farm auction in south-central Nebraska on November 7, 2012. That one had 4,234 hours.

Another new record-high auction sale price was set on the 2000 JD 8110 front-wheel assist tractor with 919 hours, which sold for $123,500. That was a mere $9,000 over the previous high sale price I’d ever seen on a JD 8110.

Here’s the YouTube video I posted with highlights of these two record setting JD tractors sold yesterday, plus a sweet 1981 JD 4440 tractor with only 2,980 hours and a 2000 Case IH 2366 combine with 1,120 engine hours. The combine wound up being the second highest auction sale price I’ve ever seen: