In this tough ag economy, farmers continue to hunt for operational efficiency gains. I’ve seen this play out in the used farm equipment market the past couple of years. Even though it might be painful to the pocketbook, farmers are willing, able and eager to invest in used equipment that enables them to better control input costs while maximizing yields.
Check out the data table below highlighting auction prices on John Deere 2510H high-speed applicators. The 2016 model that sold for $70,000 at an April 19 auction generated a lot of buyer interest. That applicator had three John Deere rate controllers and rear cameras. Talk about precision.
The Dec. 14, 2017, farm auction in west-central Indiana, which featured a 2009 John Deere 2510H that sold for $32,500, is indicative of the trends I’m tracking. A 2010 John Deere 1770NT CCS multi-hybrid 24R-30 planter with Precision Planting equipment also sold at the auction. The specs description on this planter read like a novel and are exactly what farmers are looking for. The $155,000 sale price is the second-highest I’ve seen on a 2010 model lately, trailing one from southeast Nebraska that sold for $165,250 at a Bigiron.com online auction on Feb. 28.
The Indiana auction also featured a 2014 John Deere S680 four-wheel-drive combine with 1,353 engine hours that sold for $215,000. The average auction price on that same model and year unit was $201,619 in 2017.
So why did the combine in Indiana bring more money? It was decked out and ready to go: AutoTrac ready, GS3 Command Center with 7" touch screen, extended-wear grain handling package, set up for Precision Planting yield monitor system.
Another hot ticket item at the Indiana auction was a 2014 Fast 8224 liquid fertilizer applicator with a John Deere rate controller. It sold for $77,500. Based on the dozen Fast 8224s dealers have listed on MachineryPete.com, only one has an advertised price higher than $77,500.
If a piece of used equipment can help a farmer increase efficiency, precision and yields, buyer demand will be reflected in the sale price.
I don’t see this trend slowing down. If anything, it’s likely to pick up speed the second half of 2018 and into next year. Even when commodity prices trend upward, farmers will continue to look for used equipment decked out with the technology that enables them to boost their efficiency, precision and yields.
Buy your next piece of used farm equipment from the best online resource. With more than 100,000 listings from dealers across the country, shop at www.MachineryPete.com