You could make a nicely shaped triangle if you drew a line from the June 28th farm auction in southwest Minnesota to the farm auction the same day in north central Indiana and then to the huge Ritchie Bros. dealer/consignment auction on June 30th in St. Louis, Mo. My radar was definitely up for these three auctions, for different reasons.
Let’s start at the sale in southwest Minnesota, a farm retirement auction. A 1997 Ford Versatile 9482 4WD tractor with only 1,222 hours was up for sale. It had a M11 Cummins engine, four hydraulic outlets, 12-speed Syncro transmission, rock box, radar and performance monitor, and full rear weights. The condition was excellent. The sale price was $92,000.
That’s a new record-high auction sale price that I’ve seen on a 9482. The previous high was $75,000 at a April 14, 2009, farm sale in west central North Dakota (2,289 hours, excellent condition). This is just more proof of a trend I’ve seen since this past November: used four-wheel-drive tractors in good condition have really shot up in value.
Here are more strong prices from this Minnesota sale: a 1992 Case IH 5230 2WD tractor with 1,033 hours sold for $39,000 (new record-high price for 2WD 5230); four 1994 Demco GF250 gravity wagons sold at $4,450 to $5,300; a 1997 New Holland TR-88 combine with 1,500 engine hours, $58,000.
On the same day, at the farm estate auction in north central Indiana, a 1995 John Deere 7800 2WD tractor with 4,232 hours sold for $56,000. Compare that to the 1996 7800 2WD with 1,871 hours in excellent condition sold on Aug. 9, 2010, in east central Illinois for the exact same price. Shows you how hot used tractor values are in 2011 that a John Deere 7800 sells for the same money as one with 2,361 fewer hours sold 10 months earlier.
Then there was the big June 30th Ritchie Bros. auction in St. Louis. Why was I interested in that sale? Because it had 33 mostly late-model combines up for sale. How did they sell? See for yourself. I sent an e-mail to our subscribers with this data the night of the auction.
Kind of handy info to have at your fingertips, don’t you think?
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Greg Peterson researches and analyzes auction prices. At www.machinerypete.com, his website, you can find databases of auction sale prices on 75 categories of equipment. Subscription information is available online or by phone, (800) 381-0423.