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 South Dakota Farm Auction Yesterday
Jul 25, 2014
The price of corn may be down, but auction sale prices on good used equipment in livestock country are red hot. Proof came yesterday (July 24, 2014) on a farm auction in southeast South Dakota.
Proof? How about the 1976 IHC 1066 tractor with 6,400 hours pictured above sold for $19,500. That is with NO loader by the way. The Westendorf WL-42 sold separate for $7,000. I'm not sure which sale price garners the bigger "WOW" there...$19,500 is the 4th highest auction sale price I've seen on any IHC 1066 over the past 18+ years.
$7,000 is a new record high auction sale price on the Westendorf WL-42 loader. The next highest price I've ever seen is $6,300 back on a June 12, 2010 farm auction in northeast Nebraska.
Here are a few more sale price highlights from yesterday's southeast South Dakota farm auction by my friends at Westra Atkins Land & Auction, LLC:
1997 CaseIH 8940 with 2,675 hours, sold: $92,000 (ties record high auction price)
1990 CaseIH 7120 2WD with 3,900 hours, sold: $52,000 (3rd highest price last 17 years)
Knight 1140 manure spreader, sold: $17,250 (owner paid $10K for it 2-3 years ago)
IHC 105 grinder mixer, sold: $1,700 (new record high auction price)
IHC 720 5-18 plow, sold: $3,500 (highest price on 5 bottom 720 in 18 years)