Content of this column is based on actual local and regional pricing compiled by Greg Peterson, known to the industry as Machinery Pete. Since 1989, Machinery Pete has compiled more than 500,000 auction prices on used farm and construction equipment sold throughout North America. Peterson has built a network of 1,000 regional auctioneers, 600 ag lenders, 2,000 implement dealers and thousands of farmers throughout the U.S. and Canada.
If I have heard this joke once, I have heard it a thousand times. “The best thing about 2020 is that it over!” 2020 was a year filled with challenges — everything from a pandemic to someone paying you to take their oil, literally.
The run-up to the 2014 auction season was one of disbelief and dismay. The amount of used equipment on the market was no joke, and it was getting worse every day.
I talked to many people in 2019. All of them had a similar story to tell about the year: it wasn’t terrific. It was either too wet or too dry; planting was hot and dry or cold and wet.
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.
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