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Deere 8300 tractors worth 27.2% more now vs. 2002
Wow, what timing.
Earlier this week I was working up some "Ave. Auction Price" data from our Machinerypete.com web site to highlight the point of continued rising used values on 10-20 year old tractors in good condition. Since early July I've watched this trend pick up steam.
Like a light switch clicking "on."
Hmm, what Make / Model should I shine my spotlight on? Deere 8300's, made from 1995-1999 about as good a choice as any. I've seen tons of them sold over the last decade plus. And there was that sweet 1996 JD 8300 with 4,100 hours, mechanical front, in excellent condition, with full weights and quick hitch, sold for $84,500 on a farm auction in east-central Nebraska back on July 31, 2010.
That tractor kind of stuck in my brain.
So ok, let's use JD 8300's for my example. Using the "Calculator" pricing tool in our web site, here's the revealing data I found on JD 8300 Tractor Values over the last eight years:
Holy smokes, look at those figures. Kind of boggles the mind to realize that Deere 8300 tractors, now 11-15 years old are currently worth 27.2% more money than they were worth back in the calendar year 2002, when they were just 3-7 years old.
Now for the interesting timing part.
Originally when I worked up this Ave. Auction Price table earlier this week, the 2010 Ave. Auction Price came in at $70,480. But that was before the video report I got from my good friend Doug Walton with United Country Walton Realty & Auction in northern Ohio. Seems Doug and his crew had a fantastic farm auction on Monday (Sept. 6th) near Attica, Ohio (north-central OH).
On this sale was a very nice 1995 JD 8300 MFWD tractor with 2,416 hours.
Throughout the video I drop in my comments on some reasons why I think we're seeing this trend of rising values on good condition used tractors. See if you agree or disagree. Of course, it doesn't hurt that grain farmers are feeling more bullish here the last couple months. Like I said, I began to see an uptick in auction sale prices on farm sales back in July and it has only picked up speed since then.
The rest of 2010? Buckle your seatbelt.
Oh, and if you thought that 1995 JD 8300 tractor sold on the north-central Ohio farm auction Monday was the highlight of the sale, nope, it wasn't. Not even close. (3) other items beat it hands down. What were they?
- 1948 JD B tractor, real sweetheart
- 1977 JD 4430 tractor with 6,675 hours, looks like new
- JD 7000 4R-36 corn planter, dry fertilizer, insecticide, like new
That 7000 4R-36 corn planter? You won't believe what it sold for. I'll be posting video of these (3) items selling on the Ohio auction in our Machinery Pete Youtube channel in the next day or two, be sure to check it out at: www.youtube.com/user/machinerypete
Oh, almost forgot. Below is a link to show you all the JD 8300 tractors I've seen sold at auction going back over the last decade. Lots of data for you to chew on. Scroll back and see what very low hour 8300's were selling for back in the early part of the decade and compare to today. Amazing.