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.
Record Prices on IHC 1566 & 806 Tractors Today on Minnesota Auction
Aug 14, 2014
Man did I have fun today.
So did all the other folks at the Carmen Start farm retirement auction just outside of Ostrander, MN (southeast Minnesota). We saw (2) new record high auction sale prices set...on the 1975 IHC 1566 with only 450 actual "1 owner" hours and also on the 1966 IHC 806 diesel with 2,338 hours. I posted an "auction preview video" in our Machinery Pete Youtube channel (www.youtube.com/machinerypete) earlier this week and the video, as I suspected it would, generated a TON of interest...5,000+ "views" in a couple days. Always SO much interest from far and wide whenever these really low hour, 1 owner, original condition tractors show up for sale.
One of the most fun moments for me today was when the Gehling Auction truck rolled up to the IHC 1566 and auctioneer Ron Gehling began to tell the crowd about it...it got QUIET...FAST. I've seen this happen so many times over the years. It never gets old. Here is a Youtube video I just posted of the 1975 IHC 1566 selling for...$45,000 (new record auction price):
The previous record auction price I'd seen on an IHC 1566 was $25,000, all the way back on an August 26, 2004 farm auction in southeast Iowa for a 1976 model 1566, black stripe, with 1,326 hours. So $45,000 today blew that away.
The other new record price today was $16,750 on the 1966 IHC 806 diesel with 2,338 hours (pic below). The previous high sale price was $16,000 for a restored 1965 806 Wheatland sold on an August 6, 2011 Mecum "Gone Farmin" collector auction in southeast Wisconsin.
90 year old Carmen Start retired back in the late 1970's and simply put these IHC tractors in his nice and tidy shed...and there they sat, started up twice a year faithfully by meticulous Carmen, but out they came this week for the auction and folks all North America and beyond enjoyed seeing and learning about them and then finally bidding on them today at the auction.
As I said, man did I (we) have fun today.
"Machinery Pete" TV show on RFD-TV episodes online: www.agweb.com/machinery_pete_tv.aspx