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Machinery Pete: Delbert and the shed
Sure is a reassuring to see that "always shedded" comment on an auction sale bill, or in a classified ad, isn't it? Two little words, but they mean a whole lot more. They say the current owner has truly cared for the equipment. Prospective buyers respond by being willing to pay more to acquire such well cared for equipment.
Makes me think of a saying an old buddy of mine, a guy who has bought, sold and traded used equipment his whole life, has regarding used farm equipment.
"The best investment you can ever make? A machine shed."
He's right. I've been tracking auction sale price data on all types of used farm and construction equipment for 19 years now. Through the years and tons of data I've noticed that auctions featuring very well cared for, always shedded equipment consistently produce the highest sale prices.
Another example came rolling into my office this week, from a small farm auction held last Saturday (November 1) in northeast Kansas, the retirement auction for Delbert Stadel. Delbert didn't have a ton of equipment, none of it late model stuff, but what he had he cared for well. This was the lead comment from our rep covering the auction:
"Older equipment, very nice, always shedded."
Delbert was rewarded for the superior care he gave his equipment over the decades with very strong auction sale prices. Take the 1979 model AC 7020 tractor with 4,907 hours that sold for $9,000. How high is $9,000 for an AC 7020? It's the highest sale price I've run across in the U.S. since March 2000.
See for yourself, click here to view AC 7020 auction prices.
Or how about the 1977 GMC 6000 2-ton farm truck with 16-foot wooden bed, hoist and 20,000 miles on it sold for $9,100? The highest auction price I’ve seen in the U.S. since March 2004. Incidentially, our data shows the three highest selling GMC 6000 trucks over the last five years all came from Kansas. Interesting.
Click here to view auction prices on GMC 6000 trucks.
I think you can gain valuable insight into the overall condition of a piece of equipment by the comments about it on the sale bill, or in the classified ad. Check out the comments on Delbert's GMC 6000 truck on the sale bill:
"2 Ton farm truck, 350 gas engine, power steering, 5x2sp, 16' wooden bed w/ hoist and stock racks, 9.00-20 rear tires, orange cab w/ white top and white bed, one owner, always shedded, 20K miles."
"One owner. Always shedded." Now there's a dynamite combo.
Don't think Delbert took pride in his equipment and how he cared for it? I do and I can tell you it definitely paid off in the prices paid for his equipment last Saturday. Congrats on a successful sale Delbert and great job taking care of your equipment over the years. No doubt the folks who bought your AC 7020 tractor, your GMC 6000 truck and all the other items on your sale are very happy, satisfied buyers.