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Used grain carts are hot

“Don’t film the beans.”

That was the unusual request directed at me early Tuesday morning as I strolled onto the farm yard for the auction by Sullivan Auctioneers in Hannibal, MO. The playful request came from a local farmer attending the auction. He was aware I had my handheld HD video camera and I had our film crew along to shoot the auction for our Machinery Show on RFD-TV.

He could have added, “please don’t film the corn either.”

Nope, the crops were not looking good in the northeast corner of Missouri earlier this week, just been way too wet this year. As I drive to machinery auctions around the country I definitely pay attention to what I see in the fields. I’m always curious to see how the crop conditions do or don’t affect the sale prices on the auction.

Despite the tough looking fields, sale prices on Tuesday’s farm auction were very strong, just as I’ve been seeing across the country the past six weeks. Since early July auction sale prices on used farm equipment have shot up a notch.

Or two.

The item I was most interested in on Tuesday auction in Hannibal, MO was the 2006 EZ Trail 510 grain cart. I’ve written over the last 3-4 years that grain carts have been one of the “hottest” segments of the used farm equipment market. This trend was proved again on the sale Tuesday.

It sold for $10,250.

How high is that? Well, it’s a new record high auction sale price according to the data I compile. Previous high auction sale price I’d seen on an EZ Trail 510 grain cart was $8,400 for one in “like new” condition sold January 6, 2010 in east-central Illinois. See the sale price history on EZ Trail 510 grain carts yourself by clicking on the link below:

As the bidding wrapped up on the grain cart Tuesday and the gavel fell, a guy to my right in the auction crowd chuckled a bit. Then he mentioned that farmer who had passed away and whose estate sale this was had just bought this 2006 EZ Trail 510 grain cart this past March and didn’t get the chance to use it. So I asked the natural question, “what did he pay for it?”

$8,500.

So five months later it sells for $1,750 more. Wow.

I shot video of the grain cart as it sold. Check it out below. I think when you watch the video you can pick up the vibe I’m talking about, how very good condition used grain carts just kind of pop on farm auctions. Folks ready to bid and those in the crowd very interested in what that grain cart will sell for.

Another great reason to watch the video? The chance to see my good friend auctioneer Dan Sullivan calling a sale. Dan and brothers Jim and Joe and their auction crew really do a great job. They bring a sense of excitement to a sale. They love what they do and it shows. Check out the clip and you’ll see what I mean:

In the video Dan mentions the “nice size” of this EZ Trail 510, a smaller 500 bushel capacity. Here a few other smaller size grain carts and what I’ve been seeing them selling for at auction the last few years:

Want more proof of what I’ve been saying about used grain carts being “hot” the last few years? Check out those auction prices on Brent 472’s in the link above. From 1996 – 2007 I saw no Brent 472’s sell for more than $8,600. Since 2008 I’ve seen (6) 472’s sell for $10,000 or more, including one that went for a record high price of $11,000 last month (July 17th) on a sale in north-central Illinois.

Like I said, used values have been turned up a notch or two here in the last six weeks. Looks to me like they will remain very strong right through the end of 2010.

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