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In this episode hosts Aaron Fintel sits down with In this episode hosts Aaron Fintel sits down with 5 wholesalers and dealers from across the U.S. during the Moving Iron Summit held Sept 6-7 in Nashville. 

Aaron is joined by Dave Pefley and Clint Christie from Cook Auction in Missouri, Duane Scholten from Scholten Equipment in Washington, Rob and Ryan Randall from Randall Brothers Auctions in Ohio. 

They get the conversation going with each sharing how the used equipment market is in each of their regions. They also talk about the trend in the last year or so for customers to buy another machine, simply as a backup in case their primary combine or planter breaks down because parts aren’t as easy to get as they’ve been in the past.

Full Transcript

Kim Schmidt:

Hi. I'm Kim Schmidt, executive editor of Farm Equipment. Welcome to Farm Equipment's Used Equipment Remarketing Roadmaps Podcast. In this episode, host Aaron Fintel sits down with four other used equipment managers from across the U.S. during the Moving Iron Summit back in September in Nashville. Aaron is joined by Dave Peffley and Clint Christy from Cook Auction in Missouri, Duane Scholten from Scholten Equipment in Washington, and Robin and Ryan Randall from Randall Brothers Auctions in Ohio. Let's jump in as the group shares how the used equipment market is in each of their regions.

Aaron Fintel:

This edition of the podcast is being recorded from the Moving Iron Summit in Nashville, and got a special group with us here today. We have Dave Peffley and Clint Christy with Cook Auction out of Missouri. Duane Scholten from Scholten's Equipment out of Washington. And Rob and Ryan Randall from Randall Brothers in Ohio. Last year was the first year the summit was opened to all colors. This year, we opened it to some wholesale channels. And you guys are here, so this is your first one. Welcome.

Group:

Thank you. A pleasure to have us. Thanks for the invitation. Thank you.

Aaron Fintel:

You bet. Glad to have you here and get some true used... The real world angle to look at all this stuff. Guys from Cook, what's going on in your part of the world?

Dave Peffley:

Well, it's been good just like it has everywhere else. I think we've seen a little more dry and drought type conditions-

Aaron Fintel:

Right.

Dave Peffley:

... In our area. So maybe our local market hasn't been quite as strong as some other places due to that. But overall our bean crop looks good. Things look good going into the Fall. Auctions have been strong. Prices have been good. It's just been pretty solid, but kind of like the entire market.

Aaron Fintel:

Yeah, the entire globe.

Dave Peffley:

Yeah.

Aaron Fintel:

If it's farm machinery and it's here, it's sold. I totally get it. Are you seeing anything soften? Kind of like from last year to this year?

Clint Christy:

I would say maybe not specifically one type of machinery or piece of machinery, but in general, average stuff at auction is dropping. For a while, average stuff was selling lights out.

Aaron Fintel:

Right.

Clint Christy:

But the average, we've seen it pullback at our sales.

Aaron Fintel:

Yep.

Clint Christy:

And just even putting it in the absolute road, selling it for whatever-

Aaron Fintel:

Sure.

Clint Christy:

 It's going to bring. It's a little tough to get people to bid sometimes.

Aaron Fintel:

Yeah. That 10,000 or 10 year old, 5,000 hour tractor in March was worth 30,000 more than it is today for damn sure. That kind of stuff has gotten some sanity back to it seems like. I would totally agree with that. Duane, what are you seeing up in the corner over there?

Duane Scholten:

We're pretty sheltered from everywhere else in the United States. So I mean it is a unique area. We've had the best two years of sculpt in equipment's history. I mean but most of that's been Kubota. Ironically, we're a Kubota dealer. Every since Covid happened, it's kind of embarrassing to admit that we've been the beneficiary of Covid. I mean-

Aaron Fintel:

Sure.

Duane Scholten:

Who've thought that? And so consumers came out of the woodwork to buy little tractors because they were stuck at home and it blew us away. While we were kind of gearing up to possibly shrink, suddenly we had to reverse everything. And yeah, we're a good size Kubota dealer and we were slammed the whole time. Still are.

Aaron Fintel:

Yeah. Forced to stay home and got a check to stay home, so.

Duane Scholten:

Yeah, yeah, yeah.

Aaron Fintel:

Perfect. You're there to help.

Duane Scholten:

Yeah, we were. I mean it's been a good couple years for sculpt equipment. That's for sure.

Aaron Fintel:

Excellent, excellent. Are you seeing anything kind of normalize or soften up in that realm?

Duane Scholten:

We're starting to see sales flatten just a little bit the last couple months, but you know, kind of had to expect that at some time.

Aaron Fintel:

Yeah.

Duane Scholten:

I mean it actually continued on longer than we thought it would. So it's definitely flattened, but we're still busy. Interest rates are going to change a lot of stuff. That's kind of, yeah.

Aaron Fintel:

Oh yeah.

Duane Scholten:

And then ironically I have no price protection anymore. Just that kind of all went out the window and then that happened in the last 60 days. These manufacturers, "Oh, we're not going to price protect anything. Even though we said we were, we're not."

Aaron Fintel:

 Right.

Duane Scholten:

You just go, "Wow, okay."

Aaron Fintel:

I'm sorry. Thanks for being a dealer.

Duane Scholten:

Yeah. So some of that's changed but it's been a good run. I mean when you do this for 40 years and all of a sudden the last two years end up being the two best years you ever had. You just kind of go, "Woo, didn't ever expect it to end this way." I expected to be wheeled out the door and well you're done. You know freaked out.

Aaron Fintel:

Right.

Duane Scholten:

Right? But yeah, it's been good.

Aaron Fintel:

Good, good. Randalls, what's going on in your part of the world over there?

Ryan Randall:

Oh, it's wild. Just like everywhere else. Things keep climbing, keep getting higher. You devote most of your time to trying to acquire the equipment, pay more than you ever have, cross your fingers.

Aaron Fintel:

All right.

Ryan Randall:

Obviously, we're not seeing as much sell. You used to see five of the same items sell every week and it's pretty easy then to determine what the market is. Well, when you see one of something sell every two or three weeks and it brings God knows how much it'll bring-

Aaron Fintel:

Right.

Ryan Randall:

... Then you're really messed up in the head. But yeah, we do have a super crop growing. It sure looks good. It's not in a bin yet. It sure ain't sold yet, but in my opinion, I personally feel if the market holds strong, I think we could see the absolute wildest December we've ever seen.

Aaron Fintel:

Oh, absolutely.

Ryan Randall:

That is just my opinion. I'm not saying it's right or wrong, but that's just my outlook.

Aaron Fintel:

Yeah, I can totally agree with that. Last December was pretty damn wild on its own, so.

Ryan Randall:

Oh, it was but-

Aaron Fintel:

And that was before the year we've had this year, so.

Ryan Randall:

Yeah.

Robin Randall:

You know and another thing that really doesn't quite get factored in is the amount of stuff that does get exported out too.

Aaron Fintel:

Absolutely.

Robin Randall:

And there's no doubt with the eliminated amount of production that's going on today that there is not that flooding or open of the gates that it's coming in. So there's a demand for that. And how much is being left the country too is a major factor why I think we can see a very wild December.

Aaron Fintel:

Yeah.

Robin Randall:

And very well could be wrong too, okay.

Aaron Fintel:

And you guys do a fair amount of export. How's that been this year?

Robin Randall:

Well, for obvious reasons Ukraine's been down.

Aaron Fintel:

Right? Just a little bit.

Robin Randall:

But they're still active. Don't get wrong. I mean it's not totally shut off. They have done some-

Aaron Fintel:

Yeah.

Robin Randall:

I mean like-

Aaron Fintel:

We had a couple sprayers over there in the last couple months, so.

Robin Randall:

Right. I'd say it's probably down 90%, wouldn't you?

Ryan Randall:

Yeah, we about anywhere near what we were, but we've still sold several items that's went there. South America's been extremely busy here.

Aaron Fintel:

Yeah. Do you get a lot of China activity too?

Ryan Randall:

Yeah, there's been several go to China. That whole deal's a little head scratching.

Aaron Fintel:

Yeah.

Ryan Randall:

It's hard to figure out but-

Aaron Fintel:

Right.

Ryan Randall:

Yeah, it's busy. It's good. It's confusing and you just roll with it.

Aaron Fintel:

Yep.

Robin Randall:

You know, you just have everything in the world working against you. You got limited production. You got costs of the new going up and it's just you with not being able to get your hands on it, well what is the piece worth?

Aaron Fintel:

Right.

Dave Peffley:

And another kind of funny conversation, everybody always says, "Well when's it going to tank? When's it going to tank?" I don't know all you guys' opinion. I don't ever look for it to tank. I think it will plane off and level out. Demand could go down just a little bit but I don't foresee prices.

Aaron Fintel:

Well and that's kind of what I was alluding to in that round table. We don't have the problems that we did in 14 to sift through. We just don't.

Dave Peffley:

Right.

Aaron Fintel:

There's no machine population out there. You know. The one thing that being on the dealer side of this, and seeing all of our deals, and talking to neighboring dealers with pretty good relationship, there's a substantial amount of stuff bought with no trade. Substantial. And they're not selling that and they're not using it on the farm. So is there going to be a mini glut of all the producers who hung onto their stuff and as they start hearing the chatter about soften and they go dump all that?

Dave Peffley:

So in my opinion, I don't think so. And this just in one case, I think back to last year where we had a local customer that came in and bought a second S670 Combine. Not because he needed a second S670 Combine, but because his dealer went to him and say, "Hey, if you have a breakdown-

Aaron Fintel:

Parts.

Dave Peffley:

... We can't guarantee you that we're going to get parts to get you back going."

Aaron Fintel:

Right.

Dave Peffley:

So I think that plays a lot into the reason why we've seen so few of trades.

Aaron Fintel:

Backup.

Dave Peffley:

It's backup. These guys are scared to death that their Combine, or their main tractor, or their planner is going to go down.

Aaron Fintel:

Right.

Dave Peffley:

And they're going to be weeks.

Aaron Fintel:

Yeah.

Dave Peffley:

Without being able to go.

Aaron Fintel:

Yeah. Cause you go into the dealership and you want that part next day aired in the morning, might be two days, and that's still as fast as you're going to get it. Yeah, that makes sense.

Ryan Randall:

Yeah, three years ago if somebody would've ever said that was the case and that was going to go on, you'd looked at them cross-eyed.

Aaron Fintel:

Yeah, well anything-

Dave Peffley:

I would've done that as well. Now had this guy not come in and specifically told us that's why he bought that Combine. He was a 1500 acre farmer. He did not need two Combines.

Aaron Fintel:

Right.

Robin Randall:

No, and I think you're a 100% right and to piggyback on what you said, I mean and trades is a good part of ours. Yeah. We try to make a little bit on that but guys that have come in with that trade, I've stressed to him but I've told him and be like, "You know, I don't think there'd be anything wrong with having a second backup to everything you have because you know, you take the littlest part that will shut you down, shuts that entire machine down."

Aaron Fintel:

Right.

Robin Randall:

And that's just to piggyback on what Dave said.

Duane Scholten:

I agree, I don't think after the last two, three years that them guys who had been no trades but then to come in, they're going to keep them. And they're not pressured to sell them. Prior to the last two years, they had a trade because that they had equity and they have enough cash. Right?

Well today it's paid for. There's no pressure on them to get rid of it. And I've been doing this 40 years. My phone used to ring on weekends a lot because that's what we did. You call if you got trouble. Your servicing dairy farmers.

Aaron Fintel:

Yep.

Duane Scholten:

Now I bet you I don't get one phone call a month and I still got that many cows in there. But all these guys, they got backups.

Aaron Fintel:

Right.

Duane Scholten:

And we kind of trained him because it's double time on weekends. And so I don't see that being an issue. I think they're pretty comfortable keeping all this iron on their plates because they like having backups. They don't want to have to call us.

Aaron Fintel:

Yeah. And that's a big thing too. You know, you think back 10, 15 years ago when having a spare was the most outlandish. They would never dream of that. I don't want that thing. Get it the hell out of here. We're not using it. And now it's I need two of that. Two of that. Two of that but-

Robin Randall:

And like he said on that, how many guys are getting robbed. I got a few less acres this year.

Aaron Fintel:

Right.

Robin Randall:

And a guy either gets more or he retires and he's getting out. So he probably does have a purpose for that second machine.

Aaron Fintel:

Right, right. Well and when I say the glut, I don't mean anything like what we did with 12 and 13 Combines, and all the 24 planters that brought a 100 thousand less than they were advertised for, and all that mess because it's all gone. So much of that is gone. It's exported. It's burnt up. It's junk. It's wherever and it's gone. And if we're looking at red and green S700s, '40s, '50s, there just aren't the excessive population. So there should not be these same problems.

Dave Peffley:

Well and I think when you start looking at it from a farmer's relative perspective, okay say that this stuff does start slipping.

Aaron Fintel:

Sure.

Dave Peffley:

Say that the price is on these 3000 hour, in 3000 engine hour Combines starts getting back to where it probably should be in the $60,000 range of the $90 to a $100,000 range comparatively to what a new Combine cost. If that Combine's worth 60,000 bucks and it's in the shed and you can put fuel in it and it can go run for two days while you're waiting on something else, what is $60,000 in the grand scheme of things when you're farming?

Aaron Fintel:

Yeah, exactly. And

Robin Randall:

Especially if you have that one piece and you have to go rent one for... And nobody's going to rent you one for 1, 2, 3 a week to go do, I mean like-

Aaron Fintel:

Our rental is 350 bucks an engine hour, a hundred hour guarantee two weeks. That's your rental. So whether you put on 50 hours, doesn't matter, it's a hundred hour minimum. So it's 35 your end. You want to use that Combine. For case in point, keep a 60,000 in the shed. And within our area, we saw hell of a lot of that in all the 14 through 16 auctions. Every one of our B customers, all the A's. They've all got two, maybe three. You know, cause why wouldn't you?

Dave Peffley:

And that may become a problem but these guys already have two.

Aaron Fintel:

Right.

Dave Peffley:

So you're not going to keep three or four. I mean that maybe-

Aaron Fintel:

Right.

Dave Peffley:

... A deal but tractor wise, I don't think any farmer minds having far too many tractors.

Aaron Fintel:

Yeah, exactly. Exactly.

Kim Schmidt:

We'll go back to the conversation in a minute, but first I wanted to invite you to join us virtually this December 8th and 9th for the Ag Equipment Intelligence Executive Briefing. To learn more and to register, visit agequipmentintelligence.com/executivebriefing. Now back to Aaron.

Aaron Fintel:

The biggest thing, we're sitting here talking, and this is very mindful to me in this room with you guys. Just like that, what was that? A 21780 brought 476 on auction or some shit. And we don't have a 780 that we're asking for 76 for. I like to think we are at least a halfway smart in the used world dealer. There's plenty others that aren't regardless of color. And the thing that scares me is you're not going to be 40,000 wrong on 40 Combines. You're going to be a 100 wrong. 150 wrong on 10.

Dave Peffley:

Well we've talked about that before is okay where does... You talked about your A customers-

Aaron Fintel:

Right.

Dave Peffley:

... Or your A farmers that are farming large acres. Where's the next level's comfort level at purchasing?

Aaron Fintel:

Yes.

Dave Peffley:

And we all know this, it doesn't matter how cheap something gets comparative to new to a farmer. If he doesn't need it, he won't buy it.

Aaron Fintel:

Right.

Dave Peffley:

And it doesn't matter how cheap that gets.

Aaron Fintel:

Yeah, so we're-

Robin Randall:

But then you got to understand but I mean so why would you too? So it's not a-

Dave Peffley:

But where that next level come in? I mean if that Combines 450,000, is it 250,000 where that next guy feels comfortable buying in? Or 200 or-

Aaron Fintel:

You're exactly right. There's a gap coming and we don't know how big it is. Case in point and what is it... Cause the new shit just keeps jumping, not climbing, jumping up.

Dave Peffley:

Yeah a $100,000 increase.

Aaron Fintel:

Yeah. Like everything an 8R, a Combine, half of the planners. Everything is half a million dollars. How can A minus even digest the one year old used? You're going to come into a point where if you're buying new, please run that for three years at least. So somebody can afford it when it comes back or you get into some creative lease situations.

Dave Peffley:

It can just be an awful tough pill to swallow to give 350 for a Combine and think you have to put another 30 in it.

Aaron Fintel:

Yeah.

Robin Randall:

Which was a point I think, you and Nebraska Harvest Center, Dave Gibson brought up yesterday. That's a very valid point. You're talking about the reconditioning and what was it, $150 a separator hour I think was kind of the guideline.

Aaron Fintel:

1500 bucks per hundred cent. So, yeah.

Robin Randall:

A hundred, okay. So divided by 10. But I mean that, that's a very value I understand 200,000, 150,000, 250,000. That sounds like eight ton of money. And it is.

Aaron Fintel:

Right.

Robin Randall:

And it is. But in perspective, when you are talking 30% of new, yeah very well needs 23 in some reconditioning piece.

Aaron Fintel:

Yep.

Ryan Randall:

But Duane's sitting here thinking we're complaining about Combine costs. Geez, that's cheap.

Aaron Fintel:

Yeah, no shit.

Ryan Randall:

At least in the chopper world.

Aaron Fintel:

Do you have a rule a thumb on choppers? We've played with it and I come up with 500.

Duane Scholten:

500 what?

Aaron Fintel:

What? 500 per hour.

Duane Scholten:

And it is probably never enough. When I have a customer breakdown, I try to talk them out of renting. I said even if we're at 300 bucks an hour for just the base machine, you still got to put your heads on it. I don't want to rent you. And they look at you, I go, "And then I got to have a hundred hours." So I got parameters. If they don't have a hundred hours, I'm not renting it. And then I try to talk them out of it because you got to pay cleanup costs too. And it's horrendous cleanup on a harvester just-

Aaron Fintel:

Oh, yeah.

Duane Scholten:

And so-

Aaron Fintel:

You're never done.

Duane Scholten:

We kind of trained our customers. Hey, you don't want to be renting and I don't want to rent to you because the knives always come back shot. I mean it just doesn't work. But the funny thing is, I'm sitting in here with auction guys and in the chopper world, in the forage harvester world, we don't have a lot of dealers that are good at forage harvesters. But the last thing I want to see happen is dealers get sucked into a trade, and then panic. And guess where they liquidate it?

Aaron Fintel:

Yep.

Duane Scholten:

At an auction yard that may not sell enough harvesters, right? And all of a sudden, they flatten my retail market. And it just torques me off. But it happens a lot. I notice there's a couple John Deeres today on auction time. Why are we selling two year old John Deere Harvesters on auction time? I hope they weren't yours but-

Aaron Fintel:

No they're not ours.

Duane Scholten:

... And I'm just going, Oh it was... I better not say it. I remember whose name was on there now. Yeah. And you just go, that just kills the market. And then that's-

Aaron Fintel:

But what's the alternative?

Duane Scholten:

Well-

Aaron Fintel:

You can't hang onto it for five years. We've done that. The problem with choppers is, and you're exactly right, Duane. I think when it comes to choppers you are a 1000% in or zero all the way out. You cannot half ass and pretend to be in the chopper business.

Duane Scholten:

Or you're going to get burned.

Aaron Fintel:

Yeah.

Duane Scholten:

And I feel sorry for guys that jump in. I'm going, "Oh, they're going to get a huge education", and then they're going to have a torqued off customer.

Aaron Fintel:

Yep.

Duane Scholten:

I know. We figure like a thousand hours. If they haven't spent 30 grand on it, they have to.

Aaron Fintel:

Yes. Yeah.

Duane Scholten:

And the bigger choppers that might be closer to 50 grand.

Aaron Fintel:

Yep.

Duane Scholten:

A big 900 horse.

Robin Randall:

And I say you're very correct because I mean honestly, I try to brace a lot guys that come in that about every thousand... And this is pre-Covid, pre all this, that about every thousand separator hours on a Combine, it needs $10,000 worth of iron. Put iron. Iron not-

Aaron Fintel:

Not, yes. Not labor. Not hook up my laptop.

Robin Randall:

Yeah. I mean a lot of different things are different whether-

Aaron Fintel:

Augers, chains, sprockets.

Robin Randall:

[inaudible 00:21:31] If they do it themselves. If they have somebody do it or an outside guy, I get all that. You need to be braced for that.

Aaron Fintel:

Yes.

Robin Randall:

And if you don't, then more kudos to you?

Duane Scholten:

And the other issue is this old farmer thinks he scored a big one on you. He calls me up and said, "Hey Duane, we just bought a 1500 hour chopper." And I go, "Is there been any money spent on it?" No. The guy said it was already to go field. You just go, "Well, you're going to spend another 50 grand."

Now suddenly there's dead silence on the other end of the phone. What? I go, "Yeah, that's what we put in to every chopper we buy." I mean we sell all of our cutters with a warranty and we're unusual there, but I'm used to it. I've been doing it for years. So we just go through them.

So they don't get that. So that market's really, when you see numbers all over the place, I'm not shocked. But yeah, there's usually a farmer or a dealer learning, "Oh, this is," or you may have bought it for a farmer he has and then doesn't realize, "Oh, you're going to stick a ton of money in this thing."

Aaron Fintel:

Right.

Robin Randall:

Like you said, they said, well it was field ready. And I see that term thrown around hugely in the used equipment business.

Aaron Fintel:

Oh, constantly. [inaudible 00:22:41] Shit, I send it out all the time guys.

Robin Randall:

Yeah, I mean field ready is the individual that said that.

Aaron Fintel:

Exactly.

Robin Randall:

Now we also farm. So I mean field ready, it depends what side the counter you are sitting on when you talk field ready.

Aaron Fintel:

And your own field ready might be different. Am I going to go plant a thousand acres or am I going to go disc up that 40?

Robin Randall:

No you're you're a 100% right on that. I mean okay, field ready? We might have just came out of the field. Well, that Combine did come out the field. Did tractor whatever piece of farm. Like, it came out of a field. It was running. Would it make another round? Well sure. If I would've had another 40 acres to do it.

Aaron Fintel:

Yeah.

Robin Randall:

Another 500, I'd still be out there going like this. But I've also took them out of the field and went straight to the shop and dropped 30 in them.

Aaron Fintel:

Oh yeah.

Robin Randall:

So that is a term I see just loosely thrown around. And I hate to see people get sucked into that because that depends on what side of the table you're on. Why did you say that was field ready? Well, it was in the field running.

Aaron Fintel:

Right.

Robin Randall:

But you need this, this, and this. Absolutely.

Aaron Fintel:

Right.

Dave Peffley:

Field ready is the main ingredient to set a salesman up for failure.

Aaron Fintel:

There you go.

Duane Scholten:

And usually when you're pressuring-

Aaron Fintel:

That's a great way to get a pissed off call about 7:00 at night.

Duane Scholten:

Usually when you're pressuring the guy you said, "Well, it was running when it came out of the field". The interpretation went full circle. Right.

Aaron Fintel:

Yep.

Duane Scholten:

But I think one thing we're fighting in the industry though right now is not many of our customers know that one harvester, one forage chopper went up a hundred grand.

Aaron Fintel:

Right?

Duane Scholten:

We know it but our customers still haven't. That's going to be kind of interesting to me when our customer finally finds out. You're kidding. It really did. And then suddenly that's going to change everything. I think I've been talking to several other of the CLAAS dealers and I just go, "Some of these customers are going to be in for a huge shock."

Aaron Fintel:

Oh, yeah.

Duane Scholten:

And we don't even know if we can get them machine for next year, right?

Aaron Fintel:

Yeah.

Duane Scholten:

But that's still all to play in. Most of the dealers know about it but-

Ryan Randall:

Well, I wondered if you guys haven't had those conversations yet because okay, it goes up in cost a hundred grand. I mean so the customer's got to pay a hundred, just get back to where he was still-

Aaron Fintel:

Those were very difficult conversations because for the health of the used side, you can't just swallow that.

Ryan Randall:

No.

Duane Scholten:

Yep.

Aaron Fintel:

It can't go to the used. The used has stand on its own. It's got to go somewhere.

Duane Scholten:

But ironically the used is still only worth what was worth yesterday.

Aaron Fintel:

Exactly.

Duane Scholten:

Right? So there's a huge gap there now that we didn't have last year.

Aaron Fintel:

Right.

Dave Peffley:

And it's maybe, maybe not. Cause that's remained to be seen yet. I mean if there's no availability still on a chopper, the new chopper went up a hundred thousand. So you went to your customer and asked him 175,000 to trade for one year and 500 hours. So one comes up that's a year old at an auction that's got 300 hours on it. But do you get two guys? Cause you can't get one.

Aaron Fintel:

Right.

Dave Peffley:

That it brings, an S790.

Aaron Fintel:

There you go.

Dave Peffley:

I mean-

Aaron Fintel:

Yep.

Dave Peffley:

That's the reason why that combine brought what it brought.

Aaron Fintel:

It's there. Yep, it's there.

Duane Scholten:

But we're not anywhere close to those numbers. We can't trade a guy out of a 500 hour chopper. Cause we'll never find a customer for that 500 hour chopper. Even if we drew three, 400 grand, we can't find a customer for that. Cause then Chopper customers want to buy new ones. It's fascinating what they'll pay for a new one and walk right by a nice low hour one. You just different world.

Aaron Fintel:

Yep. Yep. Absolutely. Well guys, I think that's a pretty good jumping off point. I want to thank all you guys for coming this year.

Group:

Appreciate it. Thanks for having us. Thank you.

Aaron Fintel:

Great having you here and thanks for sitting down for a little session. I hope it was okay. Not too bad.

Duane Scholten:

It would be nice if John Deere dealers actually allowed somebody else to be here.

Robin Randall:

Well, you're talking about a confidence boost, I feel like man, I didn't know I was in [inaudible 00:26:56] even in on the map and I feel like-

Aaron Fintel:

There you go.

Duane Scholten:

Well, I just hurt Aaron's feeling about three days before I came here. He asked me for a pricing two cutters. And so-

Aaron Fintel:

Yep.

Duane Scholten:

I'm surprised, he's still talking to me.

Aaron Fintel:

I have extra fresh tears from him. Just for just on the flight here, shit.

Duane Scholten:

I mean, we bought a lot of stuff off you and I feel good at, you even knew my email, but now to meet you and sit down, I don't even know how I'm at on this.

Aaron Fintel:

 Shit, oh yeah.

Duane Scholten:

Every once in a while, he says, "Well, what planet you from? I'll get some smart ass remark back from him because he didn't like the price I shot him.

Dave Peffley:

I get that every time.

Aaron Fintel:

Hey, I'm just doing my job, guys. Just doing my job.

Duane Scholten:

I wonder sometimes, he goes, "Well why did you ask for an offer. You weren't ready to take an offer. Don't ask for an offer."

Aaron Fintel:

Well, here's what I know. When I get your offer, I know where the floors at.

Duane Scholten:

Yep.

Aaron Fintel:

I can only go up from there.

Duane Scholten:

Yeah, always check the record.

Aaron Fintel:

All right, well that's going to do it for this edition of the Moving Iron Podcast. And with that, let's go move some iron.

Kim Schmidt:

Thanks to Aaron, Dave, Clint, Duane, Rob, and Ryan for sharing their conversation with us. You can keep up on the latest industry news by registering online. To receive our free newsletters. Visit www.farmdishequipment.com. For Casey and Aaron, as well as our entire staff here at Farm Equipment, I'm Kim Schmidt. Thanks for listening.