Interesting trends on used iron values
Lot of interesting machinery auctions here lately.
Of course I’m closely watching sale prices coming from auctions in drought stricken regions around the country. I wrote and blogged 2-3 weeks ago about the increase in very large dealer/consignment auctions featuring a high number of late-model combines for sale and how those sale prices were definitely “softer” in drought areas.
I wrote about how to me it didn’t see quite so much about the drought affecting buyer’s willingness to spend, it seemed like the “softer” sale prices were about the increased supply of late-model used combines for sale. So more of a straight Economics 101 type thing…more combines for sale = softer sale prices.
Conversely on smaller farm retirement or estate auctions, of which there are still historically few in number, I’ve been seeing continued very strong auction sale prices on most all types of used farm equipment in good condition.
Even combines. Even older used combines.
Like the 1995 model JD 9500 with 3,250 engine hours and “10 Series” updates sold on the August 9, 2012 farm sale in northeast, IL that sold for $67,000. That’s with no heads.
This 1995 JD 9500 combine with 3,250 engine hours and “10 Series” updates sold for $67,000 (no heads) on an August 9, 2012 farm auction in northeast Illinois
The same auction had a 15-foot JD 750 no-till drill sell for $16,500. Another strong sale price I thought. Click on the link below to view all the auction sale prices I’ve compiled on JD 750 drills over the past 10 years:
Back to combines, on a large consignment auction this past Monday, August 20, 2012, in northwest Iowa a 2012 model CaseIH 5130 combine with 3 engine hours, 0 separator hours, sold for $185,000. I posted a pic of this combine on our Machinery Pete Facebook page. Auctioneer Keith Elbers told me the new “build sheet” price on that 2012 CaseIH 5130 combine was $205,000. So to come within $20K on a “hard cash” auction sale with no dealer financing available…pretty strong sale price.
I’ll continue to monitor the used equipment market and auction sale prices as they flow in each and every day from all points from the 850+ auctioneers we work with. What’s it worth? What’s it worth in that area or this area?
- www.Machinerypete.com (1-yr. subscription $69.95; 1-week $10)
- "auction results" 315,171 sale prices 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 YouTube videos (click on video player image on homepage)
- Pete's new Facebook page (lots of pics & info uploaded daily)
- Machinery Pete's 2011 Auction Price Guide: $19.95, call 800-381-0423