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Record tractor prices at Illinois sale

GREG PETERSON 01/27/2011 @ 10:32am 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

Sorry, not much time this week.

It's late Wednesday evening and I'm between stops. Alexandria, Minnesota, on Monday, Willmar, Minnesota, on Tuesday, Marshall, Minnesota, today, Mankato, Minnesota, tomorrow, Owatonna, Minnesota, Friday and then Topeka, Kansas, on Saturday. Speaking gigs six days straight. Opportunities to yak about the used farm equipment market and trends I see.

The five Minnesota stops were part of the Linder Radio Farm Network's annual "Ag Outlook" seminar series. Big fun. I stopped into the office around 10 pm tonight (Wednesday) and caught up on emails. One jumped out at me, a sale price report from a nice farm sale by Bradley's Auction Service Tuesday (Jan. 25th) in Ottawa, Ilinois.

Check out these sale prices:

  • 1996 CaseIH 7250 MFWD tractor with 2,416 hours: $72,500
  • 1989 CaesIH 7140 MFWD tractor with 3,996 hours: $61,500
  • 1979 IHC 1486 tractor with 3,600  hours: $20,000
  • 1978 IHC Hydro 186 tractor with 4,485 hours & IHC 2350 loader $16,500
  • 1962 IHC 560 gas tractor: $4,350
  • 1956 Farmall 400 gas tractor: $3,100
  • 2002 Gleaner R62 combine with 2,154 engine hours: $92,000

$72,500 on the CaseIH 7250? The 4th highest sale price I've seen. $61,500 is the all-time highest auction sale price I've seen in the U.S. on a CaseIH 7140 tractor. $20,000 for the IHC 1486 tractor is the highest sale price I've seen since January 1997 on a 1486. Oh, and the 2002 Gleaner R62 sold for $92,000? Second highest sale prices I've ever seen on an R62. Only one higher came back on 1/22/96 for a 1994 R62 with only 136 engine hours, sold for $94,000 in southwest Minnesota.

Just more proof of what I've been pointing out to folks across Minnesota the last three days: used equipment in very good condition is in exceedingly high demand and buyers are being forced to pay increasing premiums to acquire the good used equipment.

I hope to post a Youtube video with footage from this January 25, 2011 farm auction in Ottawa, Illinois, later on Thursday. Check www.Machinerypete.com for this video. Here's more on the the pieces of equipment I highlighted from the Ottawa sale Tuesday, including historical price data for a few of the machines sold.

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

  • "Auction results" 258,996 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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