Values Shifting in Antique Tractor Market
Jun 14, 2015
More proof of the rapidly shifting collector tractor market came yesterday (June 13, 2015) at an auction I covered in southeast Minnesota. Pictured above is a rare 1958 John Deere 720 diesel High Crop tractor, 1 of only 9 made in this configuration and 1 of only 3 known left to exist. It sold for $56,000. Sound like a lot of money? Not when you compare to what this very same tractor sold for on an August 6, 2011 collector auction in southeast Wisconsin...
So "ouch" in terms of selling for a whopping $61,500 less yesterday vs. not quite four years ago. The were other signs of the changing "antique" tractor market on yesterday's auction as well. The 1924 Deere Waterloo Boy Model N, restored, sold for $36,000. Sale prices ran much higher on this classic model a few years back.
Another tractor on yesterday's sale was the 1957 John Deere 420 High Crop pictured below. It sold for $8,800. Looking at our auction sale price data history at http://www.machinerypete.com I found a similarly restored 1956 John Deere 420 High Crop sold for $10,000 back on an August 22, 2009 collector auction in southwest Minnesota.
But believe me, $$ is still flowing readily in the collector tractor market. It's just flowing in different directions. Proof on this same auction yesterday in southeast Minnesota where the 1970 John Deere 2520 diesel pictured below sold for a very solid price of $21,000.
Just look at the muddied worn down grass all the way around the 2520...visual proof of how many folks are "into" these mid 1960's - 1970's model classic tractors now. Just last Saturday on an IHC collector auction in south-central Pennsylvania came a new record high auction sale price I've ever seen on an IHC 766. Pictured below is the 1975 model with 5,601 hours that sold for $16,000, as I pointed out in my "Pete's Pick of the Week" cell phone message on Friday:
Another example from last Saturday (June 6, 2015), the Minneapolis-Moline G1000 Vista tractor pictured below sold on a collector auction in northeast Indiana for $41,000....new record high auction sale price by a mile!
This on-going shift in the collector tractor market shouldn't surprise any of us. It's simply the cold, hard truth of who has money to spend and what they want to spend it on....what tractor models did these buyers grow up driving? If you are a buyer now in your 50's, with some disposable income after a good stretch of years farming, what tractors did they grow up driving? Not models from the 1930's into the 1950's. Nope, more like what I've been calling for a while now "The New Collector Tractors"....models from the mid 1960's - mid 1970's. Then show these folks nice original, or restored models from this time period that are somewhat rare and/or hard to find, so I'm talking Allis Chalmers D21's, Deere 4000's, 6030's, 2520's or IHC 1468's, and what watch happens when the auction bidding starts.