There was a large absolute dealer auction held on Aug. 8, 2017, in north central Illinois. It’s always fascinating to compare wholesale auction sale prices from dealer/consignment/online auctions vs. traditional farm auctions.
Let’s talk big square balers. I saw a very nice 2011 model Massey Ferguson 2150, one owner, only produced 7,800 bales, sell for $51,000 at a farm auction in northeast Iowa.
June 1, 2017, was the day John Deere unveiled its new S700 Series combines. I posted a video from the event at lunch time that day. I suspected there would be a lot of interest out there in farm country. By the next morning the video had 7,385 views.
I’m sure too it’s no surprise to you hear me say that over nearly 3 decades tracking auction sale price data I’ve found “farm” auctions tend to produce the strongest sale prices. This makes sense.
Trends with used farm equipment values are always top of mind with me as I pour through the different types of data (auction price data, dealer listing price data, search traffic data) our Machinery Pete business churns out daily. There are two trends I want to pull forward and touch on here with you as the calendar flips to March 2017.
The auction price caught my eye as soon as I saw it: $39,000 for the 2013 John Deere 569 round baler on a Nov. 3, 2016, farm auction in central North Dakota.
John Deere and Case IH are dominant players in farm equipment, but it’s a big wide world out there, with every color of the rainbow equipment selling daily all across North America.
A sale to set the market is how the Nov. 29, 2016, absolute dealer auction for SEMA Equipment in Rochester, Minn., was being viewed by all in the farm equipment space — dealers, ag lenders, famers, auction firms. It’s easy for me to be on hand for this big sale as it was right where I lived for the past 27 years, in Rochester, Minn.
November is off to quite an interesting start. I saw some very strong auction prices during the first 10 days of the month. These strong auction sale prices don’t surprise me — even in this stubborn down ag economic cycle we’re stuck in. Why am I not surprised? Because it’s the same thing I’ve been seeing now for 6 years in a row now going back to 2010.
In this episode of On the Record, brought to you by Associated Equipment Distributors, Jason Webster, commercial agronomist with PTI Farm, breaks the results of PTI Farm’s 2024 HIgh Speed Planting Corn Study.
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