Machinery Pete: It's More Than High Prices

April 18, 2018 03:51 PM
Lowest Auction Prices on 300+ hp Tractors

Folks tease me sometimes, “Pete, all you ever talk about is record- or near-record-high sale prices.” I know it can seem that way. It’s easy to remember the International Harvester 7588 four-wheel-drive tractor that sold for $151,000 at a Dec. 15, 2017, auction in Iowa. Or, the 2002 John Deere 7810 with 179 hours that sold for $117,000 at a March 13, 2018, Pennsylvania auction, which is the second-highest price ever on that model. But the real value of the work I’ve been doing the past 28½ years lies in the wholeness of the data.

Yes, the high prices are interesting, but the low prices and everything in between are just as important. Now is the perfect time to have this discussion as early 2018 has yielded some fascinating (or maybe slightly concerning) comparisons.

For example, a 2010 John Deere 8320R tractor in excellent condition with 1,273 hours sold for $195,000 at a Dec. 6, 2017, farm auction in northeast Missouri. That’s the highest auction price on a 2010 model 8320R in 39 months. Based on Machinery Pete data, the average price for the last dozen 2010 model John Deere 8320Rs that sold at auction is $122,250. That’s a long way from $195,000, isn’t it?

Check out the data table at left for a look at the lowest auction prices in 2017 to current on several 300 hp John Deere and Case IH models.

Not every piece of used equipment is shiny and like-new. Not every shiny piece of used equipment brings top dollar. My goal is to continue to compile trusted sale data on all types of equipment, so you can use it to make the most informed buy, sell, trade and/or appraise decisions for your operation.

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