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.
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
· $41,500: 1990 model, 5750 hours, 1/24/14 north-central Nebraska
· $63,000: 1992 model, 3130 hours, 7/27/13 east-central Iowa (record price)
· $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.