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Aug 1, 2014
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May 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.

Nebraska Man's Antique Tractor Collection

May 27, 2014

GeorgeKrejei NE tractors3 

Every tractor has a story.

And I was glad to hear all 30+ tractor stories last Wednesday in Alliance, NE when I stopped by the George and Belva Krejei farm after shooting a farm auction earlier in the day for our Machinery Pete TV show on RFD-TV. We strolled through George's beautiful tractor shed and went right on the down the line, me asking questions and George telling me the unique history on each tractor in his collection. A few highlights:

Farmall C: 3rd one delivered to Alliance, NE

IHCC George

 

1928 Farmall Regular: 1st tractor George's dad bought new

GeorgeKrejei NE FarmallRegular DadsTractor

 

Farmall F12: from Texas, "roughest riding tractor ever" - George K.

IHCF12 George

 

1940 John Deere L: with Hercules engine

JDL George

 

John Deere G:  bought in memory of 1st tractor George ever bought, a G back in 1951

JDG George

 

Minneapolis-Moline GB:  George's uncle tractor - hardly used at all

MMGB George

Just the tip of the iceberg here folks. Below is the full Youtube video walk through and interview I shot with George covering all the tractors in his collection...and a special treat at the end of the video, George took me to the back room in the house and showed me his amazing toy tractor collection. Here's the video:

Lots of tractors...lots of great stories. Thanks George!

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JD 8440 4WD Tractor Sold for Record Price Yesterday

May 22, 2014

JD8440 NE  39K

"1 owner. Low hours. Always shedded. Nice."

That's basically Machinery Pete's recipe for a high sale price on a 35-year old tractor sold on a farm retirement auction. The recipe definitely held true yesterday (May 21, 2014) on Norm Keder's farm retirement auction out in the panhandle of western Nebraska, just north of Alliance, NE. The tractor pictured above was a 1979 John Deere 8440 4WD with 5,338 hours (Quad Range). Auctioneer Darrell Kraupie and crew from Kraupie's Real Estate & Auctioneers (www.farmauction.net) sold the heck out of this 8440.

It went for $39,000.

How high is that? Tied for the record high auction sale price I've seen on a John Deere 8440 sold in the U.S. over the past 18 1/2 years. Below is Youtube video I shot of the 8440 selling on yesterday's sale...also included in the video after the 8440 are (2) other "hot" items on yesterday's sale: a 1976 Chevy pickup with 89,906 "1 owner" miles (owner paid $5,000 for it new in '76) and a 1997 Honda 300 4x4 ATV with only 24 actual miles on it. Here's the video:

Here a few other sale price highlights from yesterday's farm retirement auction in Alliance, NE:

2002 CaseIH STX375 4WD tractor with 2,924 hours, sold: $97,500

CaseIHSTX375 NE  97500

 

1973 JD 4630 tractor with 6,921 hours, sold: $17,500

JD4630 NE  17500

 

Sunflower 1433 35' disk, sold: $39,250

Sunflower1433 NE  39250

 

Flexi Coil 75 35' coil packer, sold: $14,000

FlexiCoil75 NE  14K

 

1998 Crustbuster 3200 TS49x10 drill, sold: $24,000  ($100 bids the last $5,000)

Crustbuster3200 NE  24K

 

Quinstar 42' Fallowmaster with pickers, sold: $19,500

Quinstar42footFallowmaster NE  19500

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Auction Highlights from the Weekend

May 20, 2014

 My friends at Pirrung Auctioneers, Inc. had a very nice farm auction this past Saturday (May 17, 2014) in western New York. A few sale price highlights:

John Deere 7720 MFWD tractor, 5300 hours: $66,000

JD7720 NY  66K

John Deere 4455 MFWD tractor, 9900 hours: $36,000

Ford-New Holland TS6640 MFWD tractor, 1070 hours: $35,000

IHC 140 tractor, gas, restored: $6,500

Ford 5000 tractor, gas: $6,250

Ford5000 NY  6250

Kinze 3000 6R-30 planter: $18,000

Kinze3000 6R NY  18K

Case IH 5300 12' grain drill, grass seed: $6,000

CaseIH5300 NY  6K

Kelly Ryan 2W-06 9' "Big Bagger": $18,000

KellyRyan2W 06 bagger NY  18500

Kuhn Knight VT180 vertical mixer: $35,000

KuhnKnightVT180 NY  35K

McHale "Fusion 2" 2 step round baler/wrapper: $45,000

McHaleFusion2 NY  45K

New Holland 358 grinder/mixer: $4,500

NH358 NY  4500

Two Kuhn GA6522 twin rotary rakes: $13,750; $11,250

New Holland 1411 discbine: $11,000

Kuhn GA6000 hay tedder: $7,250

John Deere 530 discbine: $8,000

New Holland 2600S side slinger manure spreader: $15,500

Also over this past weekend, at a northeast Wisconsin farm auction, an IHC 826 tractor with 4337 hours (1 owner, diesel) sold for $12,500.

Check out my latest YouTube video about a 1996 John Deere 7800 tractor:

 

 Click here to visit Machinery Pete on Facebook, and you can share your favorite tractor story. 

Shooting Western Nebraska Auction Wednesday for TV Show

May 18, 2014

Western Nebraska here I come.

Wednesday (May 21, 2014) I will be out in Alliance, NE with film crew shooting a very nice farm retirement auction by my friends at Kraupie's Real Estate & Auctioneers (www.farmauction.net). This is going to be a fun day. Not just because of the nice equipment for sale, more on that in a sec, but also because it will be a chance to see auctioneer Darrell Kraupie do his thing. Darrell's sense of fun and enthusiasm shows through on every sale he does. Case in point, the sale bill for this auction Wednesday...listed start time: 11:02 AM.

"Just my way of trying to bring a smile," Kraupie told me last week when we chatted about the sale and I inquired about the very specific start time. I'm in 100% agreement with Darrell...smiling is a very good thing indeed.

The lucky buyers on this auction will definitely be smiling as owner Norm Keder was obsessive in his care of his equipment over the years. Want visual proof? Check out (4) tractors on the sale:

2002 CaseIH STX375 4WD with 2,924 hours

CaseIHSTX375 NE

 

1979 JD 8440 4WD with 5,338 hours

JD8440 NE

 

1973 JD 4630 with 6,921 hours

JD4630 NE TV

 

Ford 800

Ford800 NE

And check out Norm's Trucks for sale Wednesday:

1974 Chevy C60 grain truck with 42,560 miles, Midwest 18' steel box

ChevyC60 NE

 

1966 Chevy C60 with 115,220 miles, Omaha 14' Standard box

ChevyC60 NE 1966

 

1976 Chevy Pickup with 89,906 miles

Chevypickup1976 NE

Now see why this will be such a fun sale Wednesday? We'll be filming the auction for upcoming episodes of our Machinery Pete "Auction of the Week" show on RFD-TV. I will also shoot some fun video for our Machinery Pete Youtube video channel and try to get some video highlights posted Wednesday evening after the auction....which starts at 11:02 AM.

:-)

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Two Hours Left for Rare Minneapolis

May 15, 2014

 A rare and early Minneapolis 25-50 tractor from Kansas is selling on an online auction ending today.

From the auction company, "Not often do we get to offer a tractor of such rarity in original, as found condition.  Usually a tractor of this scarcity has been in the hands of several collectors throughout the years.  Not is the case with this Minneapolis.  Quite possibly, you will be the third owner in it’s 100 year plus history."

More of the story here.

MinneapolisMolineTractor

Case IH 7120 Tractor Values

May 14, 2014

I've seen 325 Case IH 7120 Tractors sold at auction the past 18 years. Here are a few of the nicest 2WD models I've seen sold recently:

·  $46,500: 1988 model, 3400 hours, 4/5/14 southwest Minnesota

CaseIH7120 MN  46500

·  $41,500: 1990 model, 5750 hours, 1/24/14 north-central Nebraska

CaseIH7120 NE  41500

·  $63,000: 1992 model, 3130 hours, 7/27/13 east-central Iowa (record price)

CaseIH7120 IA  63K

·  $37,000: 4489 hours, 2/16/13 southeast Nebraska

·  $35,000: 1992 model, 6199 hours, 12/20/13 south-central South Dakota

·  $34,000: 1991 model, 5729 hours, 8/20/13 west-central Illinois

 

Tractors like the Case IH 7120 are kind of in the "sweet spot" of strong used values. So why are these in the sweet spot?

Well, first because of their size...150 hp range. This mid-size used tractor segment has benefited from the vibrant conditions in the livestock & dairy sectors here in early 2014, so while some back off on the higher horsepower end of the spectrum with lower corn price since late last spring, the extra money flowing in the livestock and dairy sectors this year pushing buyer demand. 

Of course the other factor that puts tractors like the Case IH 7120 in the "sweet spot" is their age. Case IH made 7120s from 1987 to 1993, so we're talking about tractors 21 to 27 years old now. The simpler technology, greater familiarity, and much (much) lower acquisition cost vs. new and one- to five-year-old models in the 150 hp range has all added up to higher values for this segment. There’s continued strong buyer demand for 7120s in real good condition. I see this mirrored across all color lines of 20+ year old tractors in this horsepower segment.

Amazing Massey-Harris Collector Auction Saturday in Minnesota

May 08, 2014

MH Fank1 

For Gerald and Charlotte Fank, it's in the blood...forever Massey-Harris red.

The lifelong Massey-Harris fans and collectors are holding their retirement auction this Saturday, May 10, 2014, in their hometown of Cosmos, MN (west-central Minnesota). I spoke with Gerald Fank this morning and asked how his love affair with Massey-Harris began.

"It's just in my blood," said Fank. "It's kind of like if you grew up with a fishing pole in your hand you love fishing. I grew up around Massey-Harris tractors. My grandfather Nick Fank's first tractor was a 101 Super."

MH Fank2

"My dad (Pete Fank) had Massey-Harris tractors too. The first tractor I bought was a Massey-Harris. IH's were going for $300 - $400 at the time and I bought a 1946 Massey-Harris 44 on a neighbor's farm sale for $75 in 1969. In addition to farming with their four boys, Gerald worked in town at the Buffalo Lake, MN elevator.

"Really it didn't start out as collecting for us," Fank said. "We just kept looking for tractors we could use that were priced right and we'd pick them up. Farming with the boys we didn't like hooking and unhooking all the time."

But somewhere alont the line, it did turn into collecting. The Fanks have 50 Massey-Harris tractors for sale on the auction Saturday, plus an amazing lineup of Massey-Harris memorabilia. Included in the Fanks line of tractors are a couple very rare Massey-Harris models:

MH Fank3

Pictured above is one of (3) 4WD Massey-Harris tractors on the Fank's auction Sautrday. Two have steel wheels. "The 4WD's were made in the 1930's by Massey-Harris," said Fank. "They only made them before the war."

The Massey-Harris tractor pictured at the top of this blog is actually an experimental model of which Massey-Harris only made 12 total. Only (3) are known to exist today. It was originally owned by the Canadian Forrestry Dept. and was used to pull water wagons to put out fires.

MH Fank4

Pictured above is another rare Massey-Harris on the Fank's sale Saturday. "This is a 44 Special, back in the 1950's we had some real wet years and the only way we could get small grain out was either with tractors with tracks or they put duals on the combines. This tractor did a lot of custom combining that year."

The most rare items on the auction Saturday is the Fank's Massey-Harris crawler. Yep, that's right, a Massey-Harris crawler. Didn't think MH made crawlers? You're not alone. Quite a tale behind this baby. Here's a pic:

MH Fank5

"This was an experimental model that never hit the market," said Fank. "Years ago we were at a Massey-Harris collector event in Ohio and got talking to some guys from Minnesota. They said they had an old Massey-Harris crawler back home. Everyone laughed. About 6-7 years later I had been thinking about it and I called up to Duluth. I had writen the gentleman's name down, but I got the wrong person on the phone in Duluth. He said he'd never sat on a tractor before. But he said wait a minute, and gave me the phone number of another guy up in Two Harbors, MN who had a similar last name. He said he got his mail sometimes by mistake."

Gerald called the Two Harbors, MN phone number and bingo...."I talked to the daughter who told us her dad had used it years ago to haul logs and firewood into town. She said he'd go out there on a Saturday and be out there all day. It was in pieces when we bought it. Gerald restored the Massey-Harris crawler with son Andy and wife Charlotte.

And now it's time to sell.

"Charlotte and I invested in this for our retirement," said Fank. "We both decided it's time to sell." Five years ago, the Fanks had a walk through Youtube video made showing their line of Massey-Harris tractors, crawler and various Massey-Harris implements and collectibles. Here's that cool video:

The auction Saturday features live online bidding. Henslins Auctions, Inc. is doing the sale. Here's a link to the online bidding:

henslinauctions.proxibid.com/asp/Catalog.asp

MH Fank6

 

 MH Fank7

 

MH Fank8

 

 MH Fank9

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Oliver Tractors Sold on Maine Auction Saturday

May 05, 2014

Oliver2655 ME  8250 

Always fun to find a collection of Oliver tractors selling at auction. Especially fun to find them in an unusual location, like east-central Maine. This past Saturday (May 3, 2014) in Passadumkeag, ME Keenan Auction Company sold the following Oliver tractors:

1972 Oliver 2655 Articulated 4WD: $8,250 (pictured above)

1967 Oliver 1850 Hydra-Power drive, shows 2,384 hours: $5,600

Oliver1850 ME  5600

 

1955 Oliver Super 77 row crop diesel, w/ cultivator: $4,250

OliverSuper77 ME  4250

 

1956 Oliver Super 66, gas: $2,650

OliverSuper66 ME  2650

 

1962 Oliver 770 gas: $2,300

Oliver770 ME  2300

 

1937 Oliver Hart-Parr 70 row crop, gas: $3,900

OliverHartPar70 ME  3900

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2008 JD 8530 Sold for $205,000 on Iowa Auction Tuesday

May 01, 2014

JD8530 IA  205K 

I must confess, I was a bit surprised.

The skies were cold and overcast Tuesday in New Virginia, IA, but the bidding was definitely hot on the 2008 John Deere 8530 tractor with 1,500 hours and IVT/ILS transmission. Times like these make me glad I'm not a betting man, as I would have guessed it would only touch $200K on the high side.

It sold for $205,000.

That actually tied for the highest sale price I've seen on a John Deere 8530, with the record price coming just over four years ago on a farm sale in south-central Nebraska. Here's Youtube video I shot of the 2008 JD 8530 selling on Tuesday's farm sale:

Lot of chatter out there about the reality of an oversupply of tractors on dealer's lots all over and how this is affecting and will affect used values going forward. One thing I watch really closely in addition to overall condition and the No. of hours....the AGE of each tractor sold at auction. Yes, WAY too many 1-4 year old large 4WD and 200+ HP tractors on the market....I am seeing "softer" auction sale prices on that front. But as used equipment and tractors, even in "soft" sectors like 4WD and 200+ HP, inch towards 8-10 years old...buyer interest seems to ratchet up. Makes perfect sense I suppose....more folks in on that super nice 6 year old tractor given the HIGH price of NEW.

So maybe not totally surprising what I saw Tuesday in south-central Iowa. What does tomorrow hold? Stay tuned.

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