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.
2008 JD 8530 Sold for $205,000 on Iowa Auction Tuesday
May 01, 2014
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.