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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
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.