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.
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."
1979 Deutz DX140 tractor, 2,851 hours: $15,000...Pete Says: "Another new record high auction sale price here."
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."
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."
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."
2004 Claas Rollant 160 round baler: $13,500...Pete Says: "Used round baler values have been challenged ("soft") for a few years now."
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."
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...