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Steel Deals - What's the Deal on Older Combine Prices?!
Ask me about late model-combine values, and I can give you very defined price trends backed up by hundreds of examples.
Prices on older combines are an entirely different matter.
What got me going about older combine values is that the entire used harvester market is soft these days what with the huge inventory of late-model and low-hour combines sitting on dealers' lots. So if two- or three-year-old cherry harvesters prices are soft, does that mean all combine values are depressed?
I would have said yes until I watched a Big Iron (bigiron.com) online sale that took place last Monday. On the block that day was a 2002 Case IH 2366 (pictured above) with just 1,487 separator hours. This was a well-cared for combine that sold at a retirement auction. It was equipped with a speciality rotor; grain loss, yield, and moisture monitors; bin extensions; an extended auger . . . well, it pretty much had all the options available to combines in those days.
The final price on that 14-year-old, low-hour combine was $66,000!
Just about the time I decided this sale was an aberration, caused by two farmers that really, really wanted the same combine, I noticed a 1999 Case IH 2366 with 3,393 separator hours that brought $66,000 in a Wisconsin auction. This second 2366 had over twice the hours as the first harvester but essentially brought the same money.
Maybe, I wondered to myself, there is a big trend developing here with farmers seeking older combines to save money.
I should have gone with my first instinct. After investing hours searching the internet for past sales of Case IH 2366s, I discovered those two combines must have brought high money due to a price war between bidders. Other 14- to 18-year-old 2366 Axial Flows generally brought between $25,000 and $45,000. Fewer separator hours and more features pushed such combines’ values to the top of that scale. More hours and hard wear depressed their final bids.
Just for fun, I took a look at Case IH 2388s with similar separator hours that have sold recently. Generally, they were bringing from $20,000 to $48,000 . . . just about the same price range as 2366s.
But right about the time I felt confident about those numbers, up pops the sale of a 2388 in Saskatchwan that fetched $62,578 at a Ritchie Bros. (rbauction.com) sale that took place a month ago. It was in excellent condition with just 1,570 separator hours.
I guess the conclusion here is that older low-hour and well-cared for combines always bring premium values at auction regardless of what is happening to late-model harvester values.