Heading to Mississippi auction
I’ve been to a lot of different states to cover farm machinery auctions, but never to Mississippi.
That will change this weekend as I’ll be in Corinth, MS, in the northeast part of the state near the Tennessee line, to cover a large consignment/dealer auction by Dewitt Auction Co. The auction is being held in conjunction with the Alcorn Farm & Machinery Show at the Crossroads Arena in Corinth, MS. The farm show runs Thursday through Saturday, Jan. 19-21st. The machinery auction will take place on Saturday morning beginning at 10 AM. Here’s a preview video I worked up looking specifically at (3) JD 8430 MFWD tractors on the auction and what 8430’s have been selling for:
In my 22+ years of compiling auction sale price data, I’ve always been fascinated to compare prices on similar used equipment sold in different regions. So as we have expanded our coverage to include much sale price data from the Pacific northwest, the deep south and the northeastern U.S., big fun to dig in and analyze the data.
What you can find is quite surprising. Take the farm auction held last Saturday the northeast North Carolina town of Garysburg. This was a small farm estate auction, but featured well maintained equipment.
A JD 6500 sprayer in this sale sold for $28,000. Seems like a strong sale price. How to know? Check our “auction results” database. Here’s the list of JD 6500 sprayers I’ve compiled so at auction over the last decade or so:
There have been a few higher auction sale prices than $28,000 on the North Carolina sale Saturday, but pay special attention to the “Hours”. See our North Carolina sprayer was in “good” condition and had 3,775 hours. Now scan through and notice the No. of Hours on those JD 6500’s sold for more money…..927, 1,140, 561, 512, 1,173 and 543 hours. None anywhere close to 3,775 hours, is there? Nope. So a telling point here, an example of well cared for used equipment with higher hours holding its value extremely well and even appreciating in value here in the last couple years.
Also note from our data that there hasn’t been a higher auction sale price than $28,000 on a JD 6500 sprayer since November 2007, over four years. Auctioneers Richard Vaughan and Bryant Roberson told me leading up to last Saturday’s auction in North Carolina they were getting a very high No. of inquiries on the JD 6500 sprayer. Indications were it may sell on the high side and it surely did.
Each and every auction offers clues and proof of where current used equipment values are at. I can’t wait to see how things sell Saturday at the big auction in northeast Mississippi. I’ll post YouTube video highlights after the sale.
www.Machinerypete.com (1-yr. subscription $69.95; 1-week $10):
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