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Greg Peterson

Greg Peterson, known as Machinery Pete, has built a network of 950 regional auctioneers, 600 ag lenders, 2,000 implement dealers and thousands of farmers throughout the U.S. and Canada. Since 1989, Machinery Pete has compiled more than 500,000 auction prices on used farm and construction equipment sold throughout North America. A widely sought-out speaker, Peterson regularly presents to farmer and investor audiences. He has more than 44,000 Facebook fans. In 2014, his YouTube videos tallied 6 million minutes. In 2015, Machinery Pete launched a dealer listings site with analytics and marketing services for equipment dealers. Peterson is the multimedia expert on used equipment values for Farm Journal Media, including print and broadcast. Going into its third season, Machinery Pete TV, a weekly 30-minute show, launched on RFD-TV in November 2013.

Latest Stories
When comparing 2023 to 2022, the average auction price for a John Deere S780 combine dropped $54,977, or 15.8%. How low will that number go?
For example, at Lawrence Crom’s retirement auction, his like-new 2021 Case IH Maxxum 150 tractor sold for $133,000, plus a $1,250 online buyer fee. That’s a new record-high auction price on that model.
Machinery Pete shares a unique combine recently listed for sale and what it means for your farm’s equipment plan going forward.
Times are different, which means trying to predict how used farm equipment values will behave coming out of a strong up cycle into a slower, tighter period in the ag economy is dangerous.
The price of new machinery pulls up on the price of used equipment - but this effect is quickening.
Three recent farm auctions in Kentucky, Missouri and Iowa provide perfect examples of how supply is rising yet prices are still strong for used tractors, particularly pre-DEF, pre-Tier IV models in good condition.
Supply is rising while demand is falling. This points to better used planter buying opportunities late this year and into 2024.
The top five trends Machinery Pete predicts for 2024.
Despite increased inventory on dealer lots, auction prices have remained high on good condition loader tractors in the 150-hp range through the big four-wheel-drive and large track units.
Timing is everything. Machinery Pete’s recommendation for when to host an equipment auction is quickly approaching.