This week’s Machinery Pete “Pete’s Pick of the Week” selections highlight a pair of buying trends taking hold on the used farm equipment auction circuit: Vintage tractors and simple machines are in, and farmers are buying up used machines in good condition that can check off both boxes.
In Hagerstown, Md., at a farm auction for Marvista Farm, an eight-row John Deere 1760 planter in very good condition (above) sold for $60,000. That’s the highest auction price ever on that model, according to Machinery Pete pricing data. The previous record high of $59,000 was set in December 2011.
At that same Maryland auction, a 1996 Case IH 5240 front-wheel-assist tractor with 17,528 hours (above) sold for $24,750. That’s the highest auction price ever on a 5240 with over 10,000 hours, according to Machinery Pete data.
On the classic tractor side, a 1970 Allis-Chalmers 220 front-wheel-assist tractor (above) sold at auction in Wisconsin for $56,700.
A nicely restored 1972 John Deere 4020 diesel shift tractor (above) sold for $57,500 at the same auction.
Clearly vintage is in, and farmers are buying the trend.
“The big money was really at play on these vintage, kind of muscly tractors,” Pete told AgriTalk host Chip Flory. “So there’s money out there and it’s showing up on these classic tractors.”
Another tractor segment Pete sees as trending up is the utility/loader tractor type that many dairy and livestock producers tend to covet.
At a Steffes Group auction near Hendricks, Minn., last Thursday a 2022 Case IH Farmall 75A tractor with a loader and only 207 hours on it went for $48,000, beating out the previous record high for that model by $500K.
“This is a fascinating time we’re in right now, no question about it,” Pete says. “And the way that everyone seems to be lining up and supporting this used equipment market is really pretty amazing.”
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