Even though it’s about as competitive as any industry out there, the used equipment auction business is also as tight knit as they come.
Machinery Pete took that to heart this week as he paid tribute to one of the auction industries’ own during his latest appearance on AgriTalk Radio.
Peterson dedicated his “Pete’s Pick of the Week” to Hermann, Mo., farmers Lucas and Andrea Schneider, who are mourning the tragic loss of their 17-year-old son, Jake. Jake passed away on March 12, and he was deeply involved in both the Hermann High School local FFA chapter as well as his family’s farm auction business, Schneider Auctioneers. The young man also loved hunting and working on tractors and trucks in his spare time.
“He had been working in the business since he was six,” Peterson says, adding he has known the Schneider family for years. “We just want to wrap Lucas and Andrea and the whole family up in a big hug. Tough, tough week there.”
You can leave well-wishes or condolences for the family on Jake’s obituary.
Machinery-wise, Peterson highlighted a recent auction sale that has caught his attention: a 1995 Case IH 7220 two-wheel-drive tractor (3,553 hours) went for $69,000 (pictured above) at an auction in Winchester, Indiana. Peterson says it is the fourth highest auction price all-time on any two-wheel drive used tractor.
What Else Is Trending in Used Equipment Auctions
Peterson continues to marvel at the rock-solid staying power of used sprayer values. His recent Machinery Pete TV segment on AgDay covered that ongoing trend, as did the most recent episode of The Moving Iron Podcast with Casey Seymour.
“I said it last month and I’ll say it here – if it’s the right piece of equipment and its in good condition – the dollars have been there. Auction pricing is staying strong,” Peterson says.
RELATED - Inside The Farm Equipment Auction Boom: Why Sprayer Demand Isn’t Slowing Down
PurpleWave.com Guest Says Equipment Values Hold, Q3 Will Improve
Peterson wrapped up his AgriTalk segment with Philip Butler, territory sales manager – Kansas and Oklahoma, PurpleWave.com. Butler is a bit of a self-made equipment auction pro, originally getting his foot in the door as a parts counter guy at his local Caterpillar dealership and steadily climbing the corporate ladder rung-by-rung.
Peterson asked him to share what he is seeing in the used market today.
“You’ve got a lot of people watching from the side curtain, trying to see how things are going to unfold, but I think as we move into spring – the markets have not run away into the basement yet – and with the increase in new equipment prices I think we’ll see used values hold,” he says. “There will be pain in certain areas but a robust market in others, and as we get closer to Q3 I think you’ll see some positive change in the market.”
Your Next Read: 10 Sprayer Technology Retrofit Kits That Will Save You Money
