Our expert Casey Seymour addresses the best way to price used equipment and encourages one reader to look at the on-farm auction to get rid of equipment upon retirement.

A dealer responding to Ag Equipment Intelligence’s November 2015 Dealer Sentiments survey summarized the industry’s current dilemma: “There was a lot of positive activity during the month, but a lot of people passed on making purchases when they saw what their used equipment was valued at. Used pricing is too soft to convert people to make new machine purchases.”

Those of you who were in St. Louis for last week’s sold-out Precision Farming Dealer Summit (or following us online) heard the news. The Dealership Minds Summit is returning in 2017.

How do we measure how used farm equipment is doing? For almost 27 years now I’ve been compiling one important measure, actual auction sale prices on all types of farm and construction equipment sold throughout the U.S. and Canada.

What I’m hearing: Negative vibes from folks all over, batten down the hatches, don’t feel like buying. What I’m seeing: In January and February 2016 there were very strong auction sale prices on good condition used farm equipment all over and many dealers aggressively cranking down used inventory levels. Stuff is moving.