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August 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.

Story of a Legendary JD 4955 Tractor

Aug 30, 2013

 JD4955 Kajewski pic2 585hours 1991 ask 92500

A 1991 John Deere 4955 2WD tractor with only 585 actual hours on it...there MUST be a "story" here, right?

Yep, a tale you'd be hard pressed to invent if you tried. It's the tale of a now 22-year old classic Deere model tractor bought new back in the day by rival Caterpillar, who proceeded to put test tracks on it. After a few years Caterpillar donated the tractor to...the University of Wisconsin.

Go Badgers!

Three years ago the University sold the tractor to Bob Kajewski, a farmer from Dunkerton, IA, who with his son Brian had the super low hour tractor with the cool back story restored. Look at the picture above and see how new it looks. Rather than me ramble on further let's tell the tale with video...enjoy:

It sure has been fun watching the used tractor market as I have for nearly 24 years now. Each day something new. Every once in a while....a gem turns up, like this historic 1991 JD 4955 with 585 hours.

www.machinerypete.com

 

Hot Prices on Small Equipment on Wisconsin Auction

Aug 28, 2013

I'm at the 2013 Farm Progress Show this week. Shiny new big stuff everywhere. Tons of buyer interest, strong sales. Great.

But you know where the real action is? On really good condition smaller used farm equipment. I'm talking a scorching "hot" market. Don't believe me? Just chew on the sale prices on the following items sold yesterday (August 27, 2013) on a farm auction in central Wisconsin:

IHC 1250 Grinder/Mixer: $9,000 (new record sale price)

IHC1250 WI  9K pic2

 

Bush Hog 10' Offset Disk: $4,450

BushHog10foot WI  4450

 

New Idea 324 2-Row Corn Picker: $3,000 (Highest sale price in U.S. since 12/12/99)

NI324 WI  3K

 

And I'll leave you with this...a Youtube video clip below of the sweet Allis Chalmers 7020 tractor with only 2,780 hours sold on yesterday's central Wisconsin farm auction for another new record high price ($15,750):

The shiny new big stuff is awesome, but the old, small stuff in really good condition is hard to find and when it does show up for sale on farm auctions? Bring your checkbook and be ready to bid, and big again.

www.machinerypete.com

 

 

World's 1st 30-Row Corn Head

Aug 27, 2013

 Calmer30R 12inch

Wow.

Not much else you can say about a 30-row corn head at first glance. I stopped by the Calmer Corn Heads exhibit today (August 27, 2013) on the first day of the 2013 Farm Progress Show in Decatur, IL to take a peek at what I'd heard rumblings about....the world's 1st 30-row, 12-inch corn head.

It was definitely worth the stop and look see. But what made my visit even better was realizing that as I was browsing the company's literature and fine display of historical articles and videos at the exhibit that Mr. Calmer, as in CEO Marion Calmer, was front and center pleasantly and easily chatting up passers by who came to gawk at the world's 1st 30-row corn head. 

Now I never go anywhere without my camera...so I shot a very fun little six minute video interview with Marion and had him walk us through the history on the development of this 30-row marvel. Amazing stuff. One thing I learned....Marion Calmer's great grandfather came over from Sweden, from the Calmerland region, and was a blacksmith.

Soft spot in my heart there...Machinery Pete's great grandpa George Peterson was also a blacksmith before getting into the farm implement biz back in 1920 in Tolley, ND. Here's the Youtube video interview with Marion Calmer:

This is why I've LOVED covering the farm machinery sector for almost 24 years now....so many smart, hard working, innovative and creative folks like Marion Calmer around doing amazing things. I wonder what Marion's or my great grandfather, a pair of old world blacksmiths, would have thought of a 30-row corn head mounted on the front of that MASSIVE combine?

I bet they'd be awfully proud.

www.machinerypete.com 

 

 

Antique IHC Combine Sold for Big $$

Aug 23, 2013

IHC105 MN  5K 

They were made only from 1967 - 1970.

I'm talking about IHC 105 combines. Yep, they were self propelled, sometimes had a cab. Very rare to run across one sold at auction, believe me, I've spent the past 23+ years tracking sales day by day. You just don't see many IHC 105's on the auction block.

But there one was on an August 15th consignment auction in Litchfield, MN, right on Hwy 12 in central Minnesota, a sale by Steffes Auctioneers, one of their AgIron Consignment sales. Auctioneer Eric Gabrielson with Steffes told me this IHC 105 was a rare "barn find" and came from a home in New Prague, MN. As you can see by the picture above...it was a looker, complete with 10' head.

So, what's it worth?

Good question. We all know the interest and heat around beautiful orginal or restored antique tractors...but what about a nifty antique combine?

So what's your sale price guess? I had mine in my head...I came up short. Here's a Youtube video of the IHC 105 selling on the August 15th consignment auction in Litchfield, MN...bidders from 5 different states were in on it. The winning bidder wound up being from Illinois:

For 356,000+ auction sale prices on ALL types of farm & construction equipment + daily updated searchable list of equipment available on upcoming auctions all over, go to www.machinerypete.com

 

Absolute Auction

Aug 18, 2013

Machinery Pete has always been a HUGE fan of the "absolute" auction. Here's what Merriam-Webster Dictionary has to say about the word "Absolute": 

ab·so·lute

adjective \'ab-s?-?lüt, ?ab-s?-'\

 

Definition of ABSOLUTE

1a : free from imperfection : perfect
 
b : free or relatively free from mixture : pure
 
c : outright, unmitigated
4: having no restriction, exception, or qualification

 

8: perfectly embodying the nature of a thing
9: being self-sufficient and free of external references or relationships
 
Put a piece of used equipment up for sale and see what it's worth. Simple. Honest. The bidders decide what  that thing is worth, on that day, in that area. The true auction method at work. But of course we know that many consignment auctions are not absolute. That's ok too, just a different animal for potential bidders. There can be hesitation. Who am I bidding against? At what price will the seller let it go? As long as bidders know their current values on the items they are bidding on, every auction is an opportunity.
 
But "absolute" auctions are the truest barometer of actual value. Put it up for sale, gavel falls, boom...we all know how much $$ that thing is worth.
 
This Tuesday (August 20, 2013) I will be covering a large absolute consignment auction in Hamilton, IL by Sullivan Auctioneers. We will be filming the sale for upcoming episodes of our new Machinery Pete's "Auction of the Week" show coming to RFD-TV this November. Should be a fun day at the sale. Stop on out if you're in the area of southeast Iowa, northeast Missouri or west-central Illinois. Auctioneer Dan Sullivan reported to me yesterday that this may be the largest consignment auction Sullivan Auctioneers (www.sullivanauctioneers.com ) has ever had. The sale will start at 8AM CST and run 4 rings. Wow. "Live" internet bidding will be available via www.Proxibid.com
 
Did I mention this consignement auction is "absolute"?
 
The beautiful thing Sullivan Auctioneers has done over the years building their business is training their extensive customer base in the 3-state area and beyond that all their auctions are "absolute", yes even their HUGE consignment auctions they hold throughout the year on their Hamilton, IL auction lot. These guys don't mess around. Buyers know it. Sellers know it. Everyone benefits. I'm guessing (not guessing actually) that's why their consignment auctions continue to grow. Trust is a powerful thing.
 
One of the tractors up for sale Tuesday is a 1997 MF 6180 with 3,066 hours. It will sell with a MF 948 loader. Here's a picture of the tractor & loader:
 
MF6180 IL Sullivans8 20 13
 
This tractor is part of the Jerry Gross estate selling on Tuesday's auction...like a farm sale within a consignment sale. There are 6 farm estate lines of equipment selling on the auction Tuesday. Sullivan Auctioneers is very smart how they advertise these farm estate lines of equipment, list the seller's entire line of equipment together, list Fred's equipment items together, Bob's equipment stuff together, Bill, John, Mike, Ed, etc. Quite often come auction day at a Sullivan Auctioneers consignement sale the sellers will be right there in front of the auction truck to quickly represent their item for sale. If she needs a little work, they'll just say it true.
 
Very smart.
 
The highest auction sale price I've seen the past few years on a MF 6180 tractor is $44,000 on a July 26, 2007 farm auction up in west-central Saskatchewan. It was a 1997 model with only 1,622 hours (no loader). That was only $2,000 behind the record auction price on MF 6180's of $46,000 set way back on a December 9, 2000 farm auction in northeast Ohio...a 1997 model 6180 with just 185 hours (no loader).
 
What will the 1997 MF 6180 tractor & loader and the 1,000+ other items sell for on Tuesday's Hamilton, IL consignment auction? Stay tuned....I'll have the absolute answers for you soon, and also some fun Yotuube video highlights after Tuesday's sale.
 
 

JD 4955 Sold for $77K on Minnesota Auction

Aug 09, 2013

JD4955 MN  77K

1990 JD 4955 tractor with 4,436 hours sold for new record auction price of $77,000 on August 8, 2013 farm auction in Bird Island, MN

 

"We had a wild one."

That was the quote I got last night from long-time auctioneer friend Allen Henslin about the farm auction sale Henslin Auctions, Inc. had yesterday (August 8, 2013) in Bird Island, MN. Basketball fans in the Land of 10,000 Lakes know Bird Island as the home of the boy's Class A state basketball champions back in 1980 & 1981. I know Bird Island as a beautiful little farming town in west-central Minnesota, not far from where I grew up.

So a "wild" farm auction yesterday, what was Allen Henslin referring to? Let me give you (2) examples:

1. 1990 John Deere 4955 MFWD tractor with 4,436 hours, sold: $77,000

2. CaseIH 496 25' disk, sold: $21,000

Those are both new record high auction sale prices folks. You can see a pic of the JD 4955 above, a real beauty. Just a continuation of the trend I've been tracking/following now for a LONG time....rising premiums being paid at auction for very nice condition used tractors with bit of age on them (color doesn't matter), like this 23-year old JD 4955 with 4,436 hours. 

$77,000 smashed the previous record auction sale price of $69,500 which was set not long ago, on a March 9, 2012 farm auction in southeast Michigan. That JD 4955 was also MFWD and had 4,170 hours and was in "Excellent" condition. Here's a pic of that tractor:

JD4955 MI  69500 Kilbros1160 17500

1989 JD 4955 tractor with 4,170 hours sold for $69,500 on 3/9/12 farm auction in southeast Michigan

There was another recent auction sale price record set on John Deere 4955's, this time on a "2WD" model sold on a December 7, 2012 auction in north-central Indiana where a 1991 model with 4,600 hours sold for $54,000. Here's a pic:

JD4955 IN 2WD  54Krecord

1991 JD 4955 2WD tractor with 4,600 hours sold for $54,000 on 12/7/12 auction in north-central Indiana

Ok, now let's touch on the other new record high auction sale price set on yesterday's farm auction in Bird Island, MN...the CaseIH 496 25' disk sold for $21,000. I've seen (472) sold at auction the past 17+ years. The previous high auction sale price I'd seen was $18,000 on a January 31, 2012 auction in northeast Indiana. That CaseIH 496 disk was an 18 1/2 foot model. Both of these prices are examples of another trend I've been tracking for some time...RISING used tillage values. Here's a pic of the CaseIH 496 disk sold yesterday for $21,000:

CaseIH496 MN  21K

To keep an eye on farm equipment available on upcoming auctions around the country, go to www.machinerypete.com and click on the "upcoming auctions" link, over 3,000 items in there today.

 

 

35-Year Old IHC Tractor with 6 Hours

Aug 06, 2013

Could well be the most amazing pair of low hour tractors I’ve ever seen offered for sale at auction: 

A 1978 IHC 4186 4WD with 6 hours and a 1980 IHC 4386 4WD with 498 hours. These tractors, plus a 1997 JD 6400 MFWD with 829 hours and a 1997 Ford F350 XL 4x4 pickup with only 59 miles are up for sale on the John Pesik farm estate online auction ending August 20th in Lennon, MI.

Oh yeah, also a 2008 GMC 1500 Sierra with a whopping 4,138 miles on it. Here are some pics:

IHC4186 LennonMI 6hours 

1978 IHC 4186 tractor with only 6 hours

IHC4386 LennonMI 498hours

1980 IHC 4386 tractor with 498 hours

FordF350 LennonMI 59miles

1997 Ford F350 XL 4x4 pickup with only 59 miles

"There’s no explanation for it, that’s just how dad was."

 

That’s what auctioneer Tom Lotter of Lotter Auction Service in Michigan told me the kids of John Pesik told him about their dad’s absolutely amazingly low hour tractors and pickups. "He just bought stuff and then didn’t use it," said Lotter. Lotter said all the equipment was shedded over the years. "John worked in a shop and farmed on the side. His wife ran the equipment."

 

"When his wife Anna died in 1988 John just kind of lost interest, quit farming and rented their ground out, but he continued to buy things he wanted. He just didn’t use them."

 

The auction will be an online only auction at www.auctioneersnow.com ending August 20th at 7PM EST. On site auction preview days will be Saturday August 17th and Monday August 19th from 10AM – 5PM EST.

 

How high will these super low hours IHC tractors and Ford F350 XL pickup go? Stay tuned...I'll post auction sale prices after the August 20th sale.

www.machinerypete.com

 

 

Used Combine Values Falling

Aug 01, 2013

 Values on late model used combines are falling. Again.

This is the 5th year in a row I've seen values on late-model used combines slip during 2nd Qtr. into 3rd Qtr. of the calendar year based on the auction sale price data we compile. Definitely a great time of year to BUY a good used combine. Why are values falling? No secret, there are just way too many late-model used combines sitting on implement dealer lots all over. Do a quick count next time you're out on the road and pass local dealerships...."5, 10, 15....wow, there are a LOT of shiny, big, late-model used combines sitting there, aren't there?"

Yep.

To illustrate, let's consider the example of (2) CaseIH 5088 combines sold on western Illinois farm auctions. First came a 2010 model 5088 with 775 engine hours, sold on a December 14, 2012 farm auction in northwest Illinois (pictured below). It sold for $188,500:

 

CaseIH5088 IL  188500

So year end sale there, used equipment values have shot UP the past 11 years during 4th Qtr. Why? Tax reasons of course. Tons of folks looking for last minute write offs via the Sec. 179 IRS write off option of any business asset purchase (new or used). December...great time to SELL a used combine, or any piece of equipment.

Ok, now let's compare that 2010 CaseIH 5088 with 775 engine hours above, sold for $188,500 last December to the 2011 CaseIH 5088 with only 376 engine hours sold on a farm estate auction last week (July 25, 2013) in west-central Illinois....for $166,000. Here's a pic:

CaseIH5088 IL  166K

So one year newer with 400 fewer engine hours...but sold for $22,500 less. As I said, used combine values are falling. What will happen with used combine values the rest of 2013?

Stay tuned.

Here's a Youtube video of the 2011 CaseIH 5088 combine selling on last week's west-central Illinois farm estate auction:

 

www.machinerypete.com

 

 

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