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Previewing a Michigan auction

GREG PETERSON 03/07/2012 @ 3:38pm 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

What will it sell for?

What? I’m talking about the 2001 JD 1560 20-foot no-till drill up for sale on a very nice farm retirement auction this Friday (March 9th) in Monroe, MI. Here’s a picture of the drill:

Always helpful when trying to establish current value to chew on what other similar items have recently sold for, so here’s a list of the last (72) JD 1560 Drills I’ve seen sold at auctions around the country going back 13 years:

Go through the sale price data and compare what JD 1560 drills are selling for now vs. 10 years ago give or take. Not much difference in sale prices, is there? Same trend applies here with used drills as I’ve talked about so much lately with used tractors, grain carts, grain trailers, disks and more. With the cost of “New” ones so high and the No. of farm machinery auctions way down, the value on very good condition used drills, tractors, grain carts and disks has gone up.

Speaking of good used tractors, this farm retirement auction Friday in Monroe, MI has (3) such tractors: a 2001 JD 7810 MFWD with 2,787 hours; a 1989 JD 4955 MFWD with 4,170 hours and a 1996 JD 6400 MFWD with 2,851 hours and a JD 640 loader. Auctioneer Brad Neuhart told me today during a video interview that he’s been getting tons of calls and inquiries on the tractors.

Here is a Youtube auction preview video I posted yesterday with that interview and also complete walk around video shots of both the JD 7810 and 4955 tractors, plus “in cab” video shots of both. A couple of sweet tractors indeed:

I’ll be very interested to see what the 1989 JD 4955 tractor goes for on Friday’s sale, given the (6) JD 4960’s I’ve seen sold at auction since September ’11 for $80,000 or more, all the way up to $87,000.

We will have Youtube video highlights in our Machinery Pete Youtube video channel after the auction. How high will the drill and the (3) tractors go? Stay tuned.

www.Machinerypete.com (1-yr. subscription $69.95; 1-week $10):

  • "Auction results" 298,886 sale price on ALL types of equipment. Updated daily
  • "Upcoming auctions" free searchable list of equipment on upcoming sales
  • "Dealer equip." free searchable list of equipment for sale by dealers
  • "Who Makes it?" searchable database of farm equipment Mfg's
  • "Classifieds" free place to list your used equipment for sale
  • Machinery Pete blog...see what Pete's yakking about
  • Machinery Pete's 2010 Auction Price Guide: $19.95, call 800-381-0423
  • Pete's new Facebook page
  • See the latest Agriculture.com columns from Pete

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