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Used grain cart price drop

GREG PETERSON 02/21/2013 @ 9:47am 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

Hot, but not as hot.

That’s how I’d describe used grain cart values right now vs. back a few years ago, I’m talking back in 2008 – 2009. A good example is what I’ve seen with J&M 875 grain carts lately. In the past three months I’ve seen (5) J&M 875’s sell at auction. Average auction sale price on these (5) 875’s = $17,750.

The highest of the bunch sold on Tuesday this week (Feb. 19, 2013) for $21,750 on a very nice farm auction in central Illinois, near Delavan, IL. This retirement farm auction was by Nehmelman Auction Company. 

As I said, used grain cart values are strong right now, but boy, were they ever “red hot” back in 2008 – 2009. The average auction sale price on J&M 875’s during that time period was $20,984, up from the mid $$ teens where sale prices had been running in years previous to 2008. That average auction price of $20,984 would have been even higher if not for one clunker J&M 875 grain cart in very “rough” condition sold for $9,600 on a consignment auction in December 2009 in southeast Missouri. Toss that one out and the average auction price back in 2008 – 2009 shoots up to $22,407.

What is the highest auction price I’ve ever seen on a J&M 875 grain cart? $30,500 on a June 20, 2011 farm auction in east-central Saskatchewan, Canada. Highest auction sale price in the U.S.? $26,500 on a March 6, 2009 farm auction in southeast North Dakota. 

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