I am retiring from farming and I don’t want to have an auction. What’s the best way to sell my equipment and where do I find prices?
If I understand your question correctly, you find pricing for equipment on several sites. For example, MachineryPete.com, TractorHouse.com, Fastline.com, and IronSearch.com to name a few. These will give you what machines are advertised for. Don’t mistake these for actual selling prices! I would make sure to narrow your search to the last 90 days as to capture the latest pricing trends in the market. I would also encourage you to look at auction values as well to keep your pricing grounded. If average auction value, for example, is $100,000 and your pricing your combine at $150,000 what are you going to bring to the buyer to explain the add value. The auction market is not just for junk equipment. There are several quality machines on the auction block today.
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I would also encourage you look at an on-farm auction. Machinery Pete has data that shows an on-farm sale will bring higher than your run-of-the-mill consignment auction. From what I have seen over the past 9 months the on-farm auctions, in a lot of cases, have brought more money for the same equipment than dealers are asking on their lots. My opinion is that either direction is a great strategy, it just depends on what your needs are and the age of your equipment.
Late model, low hour equipment is in high demand. This kind of equipment will sell nicely. On the other hand, so will good quality, well taken care of older equipment. It all depends on the overall condition of your equipment. There are several ways you can sell equipment on your own and be quite successful.
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