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Sep 1, 2014
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January 2014 Archive for Machinery Pete

RSS By: Greg Peterson, AgWeb.com

Learn how to better manage your machinery investments from Greg Peterson, a.k.a. "Machinery Pete." He's been researching and analyzing machinery auction prices for more than 20 years.

New to Old CaseIH / IHC Tractors Sold on Nebraska Farm Auction

Jan 27, 2014

I'll just get right to it.

Let the RED roll. Here's a list of the CaseIH, IHC and Farmall tractors sold on a January 24, 2014 farm estate auction in O'Neill, NE...I'll begin with the one that really caught my eye:

1975 IHC 1466 with 8,004 hours, black stripe, sold: $14,500  (2nd high price in 13 yrs)

IHC1466 NE  14500

 

CaseIH 210 with 938 hours, sold: $110,000

CaseIH210 NE  110K

 

1998 CaseIH 8950 with 9,040 hours, sold: $44,000

CaseIH8950 NE  44K

 

CaseIH MX120 with 9,271 hours & GB 760 Loader, sold: $51,000

CaseIHMX120 NE  51K

 

1990 CaseIH 7120 2WD with 5,750 hours, sold: $41,500

CaseIH7120 NE  41500

 

1972 IHC 966 with 8,566 hours, sold: $13,000

IHC966 NE  13K

 

1980 IHC 3788 2+2 with 6,517 hours (50 hrs on engine overhaul), sold: $12,000

IHC3788 NE  12K

 

IHC 560 diesel, WF with 4,763 hours showing, sold: $5,400

IHC560 NE  5400

 

Farmall 350, sold: $5,750

IHC350 NE  5750

 

Farmall C, sold: $1,000

IHCC NE  1K

 

Farmall F12, sold: $700

IHCF12 NE  700

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CaseIH 7140 Could Set Record Saturday

Jan 23, 2014

 CaseIH7140 IN Boston

Will it set the record?

$76,500 is the number to beat for the 1991 CaseIH 7140 Magnum tractor with only 2,185 hours up for sale this Saturday, January 25, 2014, on a farm retirement auction in Terre Haute, IN. The auction sale price record of $76,500 was just set back on a July 27, 2013 farm auction in east-central Iowa...that 7140 was a 1990 model with 3,270 hours. Here's a pic of it on sale day:

CaseIH7140 IA  76500

 

That $76,500 sale price clipped the previous record high sale price by a full $7,000, the former high sale price of $69,500 coming on a February 15, 2013 farm auction in south-central Iowa on a 1992 model with 2,740 hours. Here's a Youtube video of that very nice 7140 selling:

 

My friend Jeff Boston with Boston Auction Service is having the farm retirement auction Saturday near Terre Haute, IN. Jeff told me the interest on the 7140 has been amazing: "It's been garnering interest from Louisiana, to Iowa to Ohio," said Boston.

Here are a couple more pics of the 1991 CaseIH 7140 with 2,185 hours up for sale Saturday:

CaseIH7140 IN Boston2

 

CaseIH7140 IN Boston3

 

The sale Saturday also features this very nice looking 1979 Case 2290 tractor with only 4,618 origina hours:

Case2290 IN Boston

I will post what the CaseIH 7140 and Case 2290 tractors sell for on our Machinery Pete Facebook page after the sale (see link below)....how high will they go? Stay tuned. Here is a link to the sale bill:  www.bostoncentury.com/

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Phone Rang Off the Hook for this Tractor

Jan 17, 2014

Ford NH8670 IL  66K 

"My God did I get calls on that tractor."

That was my auctioneer friend Bill Kruse's reply when I asked him about the 2000 Ford-NH 8670 2WD tractor with 1,720 hours (pictured above) he sold on a farm auction Wednesday (Jan. 15, 2014) in east-central Illinois (Saybrook, IL).

"I had calls from Iowa, Wisconsin to Pennsylvania," said Kruse. The beautiful 8670 wound up selling for a price that tied the highest auction price I've seen in 18+ years:

$66,000.

Get this, the other Ford-NH 8670 I saw sell for $66,000....a 1998 model, front-wheel assist, with only 215 hours, sold on a January 20, 1999 auction in southwest Minnesota.

Wow.

Just more proof here folks of the rising demand for very good condition used tractors of all colors and sizes with a bit of age on them. As I've been saying for a while now...show me a super nice 10, 15, 20+ year old tractor with low hours for sale at auction and I'll show you some hot bidding action.

Here's a picture of another nice Ford-NH 8670 sold recently for big $$...a 1993 model with 2,168 hours, front-wheel assist, sold for $62,500 on an 8/24/13 auction in northwest Missorui:

Ford NH8670 MO  62500

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...Send Pete video you shoot at a machinery auction, click on this link to send video clips to Machinery Pete:  dropbox.hightail.com/MachineryPete

 

 

 

 

JD 8320 Tractor Sold on Illinois Auction Just Off Record Price

Jan 12, 2014

JD8320 IL  146K 

"Sale prices will drop off here in 2014, right Pete?"

"We'll see," is always my reply. What I've been seeing the first week and a half of this new year is showing that values are holding very strong on the good condition used farm equipment items with bit of age on them.

Like the 2005 JD 8320 tractor with 1,754 hours pictured above sold for $146,000 on a Jan. 10, 2014 farm auction in west-central Illinois....$146,000 is the 2nd highest auction sale price I've ever seen on a JD 8320. The only higher sale price? $149,000 for a 2002 model with 1,054 hours sold on a September 1, 2012 farm auction in southwest Iowa.

Makes me think back to the August 11, 2012 farm retirement auction I covered up the road here in southeast Minnesota. This was the drought summer, but southeast Minnesota wasn't too bad off, compartively speaking. The USDA crop report had just come out the day before. The report sent commodity prices zooming upwards, so auction day was a very interesting mix with folks talking drought, but also rising prices. On the auction that day was a beautiful 2002 model JD 8320 tractor with only 820 hours. It sold for $143,000. Here's a pic:

JD8320 MN  143K 

Here's a Youtube video I shot at this 8/11/12 farm auction showing the JD 8320 sell for $143,000:

So if we chew on this for a moment, tells me the buyer demand for good condition lower hour used tractors with bit of age on them has really only strengthened vs. 18 months ago. That JD 8320 sold for $143,000 on the southeast Minnesota farm auction back in August 2012 only had 820 hours. The JD 8320 just sold for $146,000 on the west-central Illinois farm auction Friday had over double the No. of hours...1,754. And factor in the price of corn Friday vs. what the price was back on August 11, 2012. 

Yet still, the 8320 sold for $3K more Friday on the Illinois sale.

More proof of what I'm talking about came yesterday on a small farm auction in east-central Iowa where this 1981 AC 7010 tractor with 3,210 hours sold for $12,000 (see pic below)...the highest auction sale price I've seen on an AC 7010 in over 15 years.

AC7010 IA  12K

"But Pete, these prices will have to soften up here soon, right?"

We'll see. Stay tuned.

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Seller's Remorse: Did I Sell my Tractor for too Little?

Jan 04, 2014

CaseIH8940 FB Sold 92K 

Oh oh. Did I sell for too little?

The first guy that called on my tractor for sale bought it. Maybe I didn't ask enough for it. We all know buyer's remorse, that sick feeling you get driving away from an auction wondering if you paid too much. Well, here's the flip side..."seller's remorse." A different kind of sick feeling.

Recently I got a message on our Machinery Pete Facebook page from Mitch. Mitch had just sold his beautiful 1998 CaseIH 8940 tractor (pictured above) with 2,113 hours. His for sale private asking price was $92,500. The first caller took it. So Mitch reached out and asked me:

"Pete, did I ask enough for it?"

Happily, I was able to let Mitch know he did just fine on the sale. In fact, the highest auction sale price I've seen on a CaseIH 8940 tractor is $92,000 on a January 22, 2011 farm auction in northeast Illinois for a 1997 model 8940 with 1,875 hours. Here's a pic of that 8940 sold for $92,000 three years ago:

CaseIH8940  92K IL 1 22 11

Values have definitely been going UP on 8940's over the past five years. From late 2001 through 2007 the highest auction sale price I saw on an 8940 was $76,000. Since 2008 I've now seen (6) 8940's sold for $80,000 or above. Below are a couple examples:

1998 CaseIH 8940 with 2,346 hours: $85,000  (11/13/12 west-central Nebraska)

CaseIH8940 NE  85K

 

Video: 1998 CaseIH 8940, 2,436 hours: $87,000  (9/28/13 east-central Iowa)

Whether buying, selling, or trading any type of used equipment, it helps to arm yourself with the very latest in comparable sale price data, not only so you can make the best deal possible...but just as important, to avoid that sick feeling that comes with "did I pay too much / sell for too little?"

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