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Greg Peterson

Greg Peterson, the founder behind the Machinery Pete brand, has built an extensive industry network connecting 950 regional auctioneers, 600 ag lenders, 2,000 implement dealers, and thousands of farmers across the U.S. and Canada. Since 1989, the Machinery Pete platform has compiled a database of over 500,000 auction prices on used farm and construction equipment, expanding in 2015 to launch a dealer listings site featuring analytics and marketing services.

As an individual commentator, Peterson serves as Farm Journal Media’s multimedia expert on used equipment values across print and broadcast. A sought-after speaker for farmer and investor audiences, he hosts Machinery Pete TV—a weekly 30-minute show launched on RFD-TV in November 2013. Peterson’s personal audience engagement includes over 200,000 Facebook followers and 60,000 YouTube subscribers.

Latest Stories
As it stands right now, it looks like 2022 will be the high-water mark for used construction equipment values.
A Bobcat Toolcat, a Polaris Ranger and a John Deere Gator have all topped $30,000 at auction.
In 2000, the highest auction price paid for any tillage tool that year was $28,500. Today, that number tops $140,000 and easily ranges from $80,000 to $120,000.
Auction prices on good used self-propelled sprayers have shot skyward the past two years. In fact, the 11 highest auction prices ever on sprayers have all occurred in the past 28 months.
When availability becomes more prevalent — pricing changes
While the drought of 2023 is straining crop conditions, there hasn’t been any drought concerns when it comes to auction prices on used farm equipment, including most types of harvest equipment.
The data I compile and analyze is so striking and consistent that 15 years ago I named it The Limbo Line. The line being the 10-year-old mark.
Used four-wheel-drive tractor values and auction pricing have been on fire the past 18 to 20 months. Premiums are being paid for slightly older pre-DEF, pre-Tier IV four-wheel-drive models in nice condition.
Auction prices have been amazing in the last year — especially in the last six months. Check out the equipment category record-high auction prices just since November 2022.
A 28-year-old, low-hour tractor draws attention during online retirement auction.