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Record prices at MN auction

GREG PETERSON 08/17/2011 @ 3:50pm 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

It's been a busy week for my friends at Maring Auction Company of Kenyon, MN.

Saturday (Aug. 13th) they had quite a farm sale. Super well cared for equipment on this sale. More record high auction sale prices notched on this sale, including a 1991 CaseIH 7110 2WD tractor with 1,477 hours, sold for $57,000.

The previous high auction price I'd ever seen for a CaseIH 7110 was $43,000...14 years ago. A pair of John Deere 4WD tractor also produced very, very strong sale prices. A 1989 JD 8560 with 1,918 hours went for $64,000. That's the 2nd highest auction price I've seen on an 8560, the only higher coming back in January 1997. Also a 1980 JD 8440 4WD with 4,293 hours sold for $33,000 on Maring's sale last Saturday.

More amazing than what the tractors sold for on this sale, were the JD 7200 6R-30 planter (new record price) and the CaseIH 13' grain drill (new record price). Check out the Youtube video I posted on Monday looking at these record prices:

Towards the end of the video I preview another fantastic farm sale Maring Auction Co. has tomorrow (Aug. 18th) in Northfield, MN (southeast MN). Ton of late-model, very low hour equipment on this auction, including a 2010 CaseIH 7120 combine with 153 engine hours. Lot of chatter here the last 3-4 months about "softness" in late model combine values with inventories stacking up on dealer lots, so this combine tomorrow should be awfully interesting.

Here's a Youtube video of a 2010 CaseIH 7120 combine with 0 hours, yep, 0 hours, selling on a December 17, 2010 absolute consignment auction in west-central Illinois. It went for $243,000:

I will be attending the farm auction tomorrow, August 18th, in Northfield, MN to shoot video for our Machinery Pete Youtube channel. One of the tractors on the sale that I highlighted in the Youtube video above is a JD 8110 MFWD with only 352 hours. This tractor drew a comment today in our Youtube channel:

"The Case IH MX-255 will be one hot ticket, but buddy, I can't imagine what the JD8110 will go for. With that low of hours..can't even imagine it."

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