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Something old, something new...

GREG PETERSON Updated: 05/31/2013 @ 10:16am 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

Nope, I’m not thinking of the old wedding axiom we’ve all heard. I’ll leave the " . . . something borrowed, something blue” to the folks headed to the altar. I have my own non-rhyming version of this saying, my reality from tracking auction sale prices these past 23½ years:

“Something old, something new. Something small, something huge. Auction sale prices on all these things, every day, just for you.”

I know, a weak rhyming effort on my part, sorry. But it reflects the fun and joy I have each day compiling sale price data on all types of used farm and construction equipment sold at auction all throughout North America. Here are two recent interesting tidbits for you to chew on:

Something Old/Small

A John Deere 215 15-foot tandem offset disk, sold for $7,000 on a May 15, 2013, farm auction in central South Dakota.

This is the second highest auction sale price I have ever seen on a JD 215 disk, the only higher sale price coming just two months ago on a March 29 farm auction in south-central Montana where a JD 215 disk sold for $7,500. From 1996 up through 2011 the highest auction sale price I’d seen on a JD 215 disk was only $3,600 (twice, both back in ’96). The past 18 months however, values have skyrocketed on good older, smaller used tillage items.

Here’s another “Something Old/Small” for you: A very nice IHC 800 four-row narrow plate planter with Yetter row cleaners that sold for $4,800 on a farm auction in east-central Pennsylvania on April 5, 2013. $4,800 for an old four-row planter. Wow.

Both these items, the JD 215 disk and the IHC 800 four-row narrow planter, highlight the reality of rising values on these very good-condition older, smaller used farm implements. Yes, we surely do live in the age of “Bigger is better.” But truth is, that motto doesn’t nicely and neatly fit every farm operation out there. With equipment manufacturers focusing more and more on bigger, more sophisticated, more costly equipment to drive great efficencies, there is a thriving market to acquire the good smaller stuff.

Something New/Huge

No, it’s not the biggest combine model out there, but the 2011 Case IH 7120 combine sold on the www.Bigiron.com online auction last Wednesday (May 22, 2013) looked pretty large to me. It had only 270 engine hours on it. The seller was from Iowa. It sold for $230,250, making it the fifth highest auction sale price I’ve seen on a Case IH 7120.

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