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The Best Equipment Deals, According to Six Auctioneers
Where are the good deals in late-model, high-horsepower equipment? Will equipment prices be increasing soon? Here are answers from six well-known auctioneers.
"The drought in the West has definitely put downward pressure on the values of all machinery, particularly four-wheel-drive tractors and combines," says Butch Booker with Booker Auction. "This offers a great opportunity to buy out in that country and ship the savings home to the Midwest, for example. It really is seamless to buy online and get purchases shipped."
"Combines, self-propelled sprayers, large planters, and high-horsepower tractors – that’s where the bargains are," explains Scott Cook, Cook Auction. "This winter offers a great time to make what could be one of your best deals in a decade on these items. On the other hand, we’ve seen older, pre-Tier 4 high-horsepower tractor values strengthen."
"Dealers haven’t sold much new lately, " says Scott Steffes with Steffes Group. "We’re going to work our way through the current glut of late-model equipment, which I think will continue to trade at historical low prices this winter. When taken together, these two factors predict significant price increases in large equipment in the near future."
"Remember back in the mid-1990s when we saw late-model, low-hour combines going for $50,000 to $60,000?" asks Mark Stock, Big Iron Auction Company. "Then six months later, they were trading for $75,000 to $80,000. That huge upswing in the prices of not only large combines but also all late-model, big machinery, is going to happen again."
"We are definitely going to hit the bottom of this machinery price market this coming year as we work through the large inventory of equipment on hand," says Dan Sullivan, Sullivan Auctioneers. "Then, we’ll see price deals go away with depleting inventory. I’m confident we will have stronger prices on low-hour cherry equipment next summer."
"Late-model, large tractors, especially large front-wheel-drive tractors, are where the bargains will be this coming year," says Derek Wieman with Wieman Auction. "They have been value-priced for the last 24 months, and that will continue. However, certain models and brands of late-model combines, on the other hand, might get more expensive this winter."