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Machinery Pete sees red

GREG PETERSON 11/18/2010 @ 9:30am 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 mad.

But I’m seeing red alright. Great auction prices on red International Harvester and CaseIH equipment came rolling in Wednesday. And Thursday, I’ll definitely be seeing red at a nice farm auction I’m covering up near Litchville in east-central North Dakota.

Feature tractor on the North Dakota auction is a 2009 CaseIH 335 Magnum MFWD tractor with 560 hours (see pic). About one year ago, on a south-central Minnesota auction on December 21, 2009, I saw a CaseIH 335 tractor sell for $183,500. We’ll see how the 335 Magnum compares on today’s sale. I’ll post video on our Machinerypete.com website after the auction.

Also a 2001 CaseIH STX440 quad trac tractor with 3,170 hours on today’s auction. Hmm, that one should be interesting also. The combine on today’s auction is a 2009 CaseIH 7120 with 450 seperator hours. A year ago, back on December 15, 2009, a 2009 7120 with 231 seperator hours sold for $210,000 on a southeast Minnesota consignment auction.

Now for those red auction prices that came in yesterday. Let’s stay with combines first. On a farm retirement auction in east-central Illinois Tuesday (Nov. 16th), a 2000 model CaseIH 2366 with 1,806 engine hours sold for $86,000. Here’s a list of all the 2366’s I’ve seen at auction the last few years:

Next let’s head south, to a consignment auction last Tuesday (Nov. 9th) in northwest Mississippi. On this auction were (3) CaseIH MX285 tractors. How did they sell? Once again, see for yourself:

And lastly, this week’s topper, actually from a very small farm auction held back on September 9, 2010 in central Iowa. A new record high auction sale price of the (367) prices I’ve compiled in our web site over the last 14+ years on IHC 560’s. So how high did this 560 diesel, wide front tractor with 2-pt., fast hitch and front fenders go?

$8,400.

Skim through my list of auction sale prices on IHC 560 tractors below and you’ll find the next highest sale price is $7,000, so $8,400 definitely caught my attention. Interestingly, that next highest sale price of $7,000...came on a collector auction just last Saturday (Nov. 13th), also in central Iowa.

Green more your color? Then check out our latest YouTube video, highlights of late-model John Deere equipment selling on a real nice farm retirement auction last Saturday (Nov. 13th) in northeast Kansas. Included in the video is a 2007 JD 8230 MFWD tractor with 1,540 hours and a 2009 JD 1790 24R-20 planter:



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