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November 2013 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.

Blistering Prices on Illinois Auction Yesterday

Nov 24, 2013

 JD6620 IL  28500 1982model

Ok, this is just plain amazing.

An Illinois farmer had his 1982 JD 6620 combine with 2,694 hours (see pictured above) listed for sale privately a while back, with a nice JD 918 grain head and a JD 444 4-row wide corn head. Asking price for the combine and 2 heads...$12,500. No takers. None. So he decides to have himself a small farm retirment auction instead. That auction was yesterday, Saturday, November 23, 2013 in Rushville, IL. How'd he do?

* 1982 JD 6620 combine with 2,694 hours: $28,500

* 1990 JD 918 grain platform: $7,000

* JD 444 4-row wide corn head: $2,600

...so all told, $38,100...just over TRIPLE what he'd been asking for the combine & heads just weeks before. Wow. Can I say double wow? Guess I just did. It's sale price results like this I've been seeing on nice farm auctions all over the U.S. and Canada that push me to make this statement, as inconceiveable as it sounds to the ear:

"Farm auctions are the new retail when it comes to used machinery prices."

When I say that, I am forced to harken back to when I started compiling auction sale price data on all types of used farm equipment...1989, the end of a brutal decade. Farm auction prices weren't RETAIL prices for used machinery back then. They are now, as these sale prices on the Illinois farm auction yesterday prove. Think any implement dealer, anywhere, could get $28,500 for a 1982 JD 6620 combine with just under 2,700 hours sitting out on his lot? Nope. But the centuries old tried and true auction method and great auction firms like Sullivan Auctioneers (www.sullivanauctioneers.com) who had yesterday's sale get these kind of amazing results.

Why?

Well, because the price of NEWER equipment is so darn high for one thing. Makes the really good condition, well cared for used farm equipment seem like a great bargain...even at increasing premium prices being paid currently. Other huge factors are availabillity....how tough is to find a super conditon 30+ year old combine like the 1982 JD 6620 on yesterday's Rushville, IL sale? Pretty doggone hard. So when the really, really nice ones show up....any sale price result is possible.

Of course TAX POLICY and the hunger for last minute tax deductions for equipment purchases is another HUGE factor....looking like late here in late '13 moreso than I've seen before and this trend/mindset has been only increasing and becoming more prevalent the past 6 years. How high is $28,500 for that 1982 JD 6620 combine?

* highest auction price I've seen in nearly 9 years

* 2nd highest auction price on JD 6620's I've seen in 13 years

* $8,000 over the next high auction auction price in past nearly 9 years

But the 1982 JD 6620 combine wasn't the only example of very historically strong auction sale price on yesterday's farm retirement sale in Rushville, IL. Here are a few other highlights showing that color isn't as important as this.....outstanding condition:

1978 AC 7060 tractor with 2,540 hours: $12,000  (2nd highest price in 14 years)

AC7060 IL  12K

 

1974 AC 200 tractor with 2,599 hours: $6,750  (3rd highest price in 14 1/2 years)

AC200 IL  6750

   

Kewanee 1020 20' disk: $5,000  (5th highest price last 17 years)

Kewanee1020 IL  5K

One more note here on this Kewanee 1020 20' disk...while it is the 5th highest auction sale price I've seen in 17+ years, it is only the 4th highest auction sale price I've seen THIS YEAR on a Kewanee 1020. As I've been saying, writing and blogging about throughout 2013....values on good condition, older used tillage has been ON THE RISE. Here's recent proof:

Make Model Price Area* Date Sold Size
Kewanee 1020 $5,000 WCIL 11/23/13 20'
Kewanee 1020 $5,250 WCIL 2/12/13 20'
Kewanee 1020 $6,000 SCMN 4/6/13 20.5'
Kewanee 1020 $6,250 WCIL 2/12/13 21'

* Area sold: WCIL = west-central Illinois, etc. Data by www.machinerypete.com

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Big $$'s on Kansas Auction Monday

Nov 20, 2013

 JD4940 KS  282K

Small sale. Big bucks.

My friends at Carr Auction & Real Esate, Inc (www.carrauction.com) had quite a sale Monday (November 18, 2013). Not so much quantity of equipment sold, but definitely quality, as the farm auction just northwest of Larned, KS featured some very big ticket, late model items...such as the 2014 JD 4940 sprayer pictured above. It had 150 engine hours, 100 sprayer hours, 120' boom, 15" centers, 1,200 Gal. SS tank, BoomTrac Pro, 2630 monitor and JD warranty.

It sold for $282,000. Here are a few other sale price hightlights:

2012 JD 8360R tractor with 650 hours: $241,000

JD8360R KS  241K

 

2009 JD 8430 tractor with 1,150 hours: $199,500

JD8430 KS  199500

 

2013 Brent 1394 Avalance grain cart: $61,000

Brent1394 KS  61K

So how do these auction sale prices stack up? Well, that 2009 JD 8430 tractor with 1,150 hours sold for $199,500...that is the 2nd highest auction sale price I've ever seen on an 8430, trailing only the 2009 JD 8430 with 593 hours sold for $202,500 on a 12/12/11 farm auction in northeast Missouri.

So a continuation here of what I've seen the 1st half of November '13....very strong auction sale prices on good condition farm equipment.

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Hot Bidding on Older, Smaller Used Equipment

Nov 17, 2013

 IHC470 MN  3400

It's happened 3 times now.

I'll be out covering a nice farm auction, video camera in hand. In advance of the sale I scan the equipment list and have my eye set on a few key pieces on the auction. Sale day arrives and the auction company is working its way through the lines of equipment, still early in the auction, before the main items come up for sale.

Then it happens.

What? One particular piece of equipment on the sale, usually an older, smaller item but in very good condition will absolutely catch fire, bids come flying like mad....."it's up to how much??" Caught off guard I'll quick flip my camera on and jump in to catch the hot bidding action. The gavel falls and crowd collectivvely murmurs....."whoa.'

Happened again yesterday (November 16, 2013) at a small farm estate auction I covered just outside of Northfield, MN (southeast Minnesota), a sale by Maring Auction Co. We were working our way down the line of equipment, I was chatting with couple guys about the tractors coming in short while....holy cow, what's the bid up to on that IHC 470 disk?

Sold for $3,400 (pictured above). That is the 3rd highest auction sale price I've seen in the past 15 years on an IHC 470 disk. This one was a 21 1/2 foot model with manual fold wings. This is the 3rd time this has happened to me, covering a sale, suprised by strong bidding on an older, small used disk. Here's the scoop on the other (2) times:

* $7,100: JD 230 25 1/2 foot disk, sold on 2/1/11 farm auction, northwest Iowa

* $15,000: JD 235 30' disk, sold on 3/9/13 farm auction, southwest Minnesota

At the time, $7,100 for the JD 230 disk was the 2nd highest auction sale price I'd ever seen. Since that 2/1/11 auction in northwest Iowa....I've seen (3) sell higher, all the way up to the new record auction price of $10,000 on the JD 230 21 1/2 foot disk sold on a 4/17/12 farm auction in south-central Saskatchewan.

$15,000 for that JD 235 disk sold back on the March 9, 2013 auction in southwest Minnesota...that is the $2,200 OVER the previous record high auction sale price of $12,800 which came all the way back in the year 1996.

So, yeah, you can safely say it's been a RED HOT market the past few years for really good condition older, smaller used DISKS.

Same for older 6-row PLANTERS. More proof on the Northfield, MN farm estate auction yesterday where this (pictured below) JD 7000 6R-30 planter with dry fertilizer sold for $8,250:

JD7000 6R MN  8250

The highest auction sale price I've seen on a JD 7000 6-row planter the past nearly 18 years? Answer: $9,800...here's Youtube video I shot of that JD 7000 6-row planter selling on a 11/12/11 farm retirement auction in south-central Wisconsin:

The HOT bidding on good condition smaller used farm equipment continues here late in 2013.

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High Prices on Michigan Auction

Nov 13, 2013

Let's take a trip to Michigan.

A beautiful state, yes, no doubt. But our trip is business oriented, to take the current pulse of the used farm equipment market. How are used values holding up here as we wade closer to the end of 2013? I think Michigan a good place for us to visit as I've long found Michigan farm machinery auctions toward the top of the heap in terms of variety of equipment sold.

We'll zero in on a nice farm estate auction in west-central Michigan last week, on November 7, 2013, a sale by my friends at Sykora Auction Service (www.sykoraauctions.com). Below are some pics of items sold on this farm auction along with my Machinery Pete commentary, notes and historical context on the sale prices. Ready? Ok, here we go:

2004 Kubota M8200 tractor, 1,210 hours, Kubota LA2151 loader: $25,000...Pete Says: "This is highest auction sale price I've ever seen on a Kubota M8200 & loader. Compare to the 8/14/06 farm auction in southeast Pennsylvania where an M8200 with 580 hours & LA2151 loader sold for $23,500."

KubotaM8200 MI  25K

 

1979 Deutz DX140 tractor, 2,851 hours: $15,000...Pete Says: "Another new record high auction sale price here."

DeutzDX140 MI  15K

 

1974 MF 1105 tractor, 2,771 hours, 1 owner: $8,500...Pete Says: "Highest auction sale price I've seen on a MF 1105 tractor since 2/14/98...Valentines Day 15 years and 9 mo. ago."

MF1105 MI  8500

 

2003 Bobcat 5600 "Tool Cat" utility loader, 2,900 hours: $22,250...Pete Says: "Very strong sale price here for a 10-year old model with 2,900 hours. Very strong demand for these good used UTV's all over."

Bobcat5600ToolCat MI  22250

 

1998 JD 9610 combine, 3,930 engine hours: $44,000...Pete Says: "Right on the $$ here, as Ave. Auction Price on 9610's so far this year = $44,443...high of $80,000, low of $30,000."

JD9610 MI  44K

 

2004 Claas Rollant 160 round baler: $13,500...Pete Says: "Used round baler values have been challenged ("soft") for a few years now."

Claas160 MI  13500

 

1992 New Holland 411 9' discbine: $7,500...Pete Says: "4th highest auction sale price I've seen on NH 411 discbine in past 13 years."

NH411 MI  7500

Well, hope you enjoyed our little visit to west-central Michigan. As you can see, values on good condition used farm equipment are holding up just fine here late in 2013. How about different types of equipment, in different geographic regions? Stay tuned...

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Auction Eye Candy Catches Pete's Eye

Nov 07, 2013

WaterlooBoy N ON 

Yes, I report on auction sale prices. Been at it now 24 years this month. But I also report on upcoming machinery auctions all over North America. Each and every day I analyze upcoming sale bills as they come floating in via mail, email, text or on our Facebook page. 

Some items just pop out and grab my attention....eye candy.

For example, these items on a November 9, 2013 collector auction in Maidstone, Ontario, Canada, a sale by Shackelton Auction. First off, the 1921 Waterloo Boy Model N tractor pictured above. Don't see these babies every day, do you? Here are a few more fun visual nuggets from Shackelton's Saturday sale:

1946 JD AR "Buy Eye" unstyled tractor

JDAR ON

 

1924 JD D spoker tractor with factory round spoke wheels all around

JDD ON

 

1953 JD 60 High Crop tractor

JD60HC ON

 

1960 JD 330S tractor

JD330S ON

 

1959 JD 435 GM diesel tractor, noise in 2nd gear

JD435 ON

 

Ford 8N Hy Crop conversion tractor

Ford8N HyCropConversion ON

 

JD 12A pull type combine

JD12A ON

 

1957 Ford Thunderbird convertible car, 1 of 1st 12 built

FordThunderbird ON

 

Birdsell Clover Huller threshing machine

BirdsellClover HullerThreshing ON

 

Silverwoods horse drawn milk wagon

MilkWagon 3

See why this auction caught my eye? Full of interesting eye candy. Can't wait to find out what all this stuff sells for on Saturday's sale. Here's a link to the sale bill: www.shackeltonauctions.com/antique-tractor-auction-november-9-2013/

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1992 JD 4960 with 14 Hours - Sat Outside for 20 Years

Nov 05, 2013

 JD4960 treepic1

20 years it sat there.

Trees and shrubs growing up all around it. The 1992 JD 4960 tractor purchased new in April 1992 for $72,000 in central Ohio was taken home and simply parked OUTSIDE the shed. And there it sat. And sat. And sat for two full decades. Locally the legend of the JD 4960 with hardly any hours on it grew. Interested folks wandered by hoping for a look, maybe even the thought of asking of the owner would entertain selling it?

Their answer came emphatically....in the form of a shotgun pointed at any and all tractor lookers. Not interested.

So the JD 4960 sat until the original owner passed away in 2012. Enter Ryan Young and his dad Joe of Rushville, OH. Father and son purchased the 4960. And how many hours on it now that it was 20 years old?

14.7 hours to be exact.

I'll let Ryan take it from here and finish the amazing tale of this in our Youtube video interview standing next to the JD 4960...now with a whopping 47 hours:

 

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