Machinery Pete – aka Greg Peterson – continues to note higher than average prices as he scours the used equipment auction market.
This week, Pete’s Pick of the Week is a rather interesting find: a 1991 John Deere 4755 tractor (3,260 hours) that sold for $61,000 via Sykora Auction Service up in Mid-Michigan. According to Machinery Pete historical sales data, that’s the 9th highest auction price ever on that model – which might not seem all that impressive until you consider the tractor itself is 33 years old.
“You’re talking to a guy who’s been tracking this for 34 and a half years,” Peterson told AgriTalk host Chip Flory during his weekly radio appearance. “People are jamming backwards to find the nicest older tractors. And most of these – they’re not being bought to collect – they’re being bought to farm with.”
Along similar lines, a trio of Versatile tractors also caught Peterson’s eye.
At a Bellevue, Ohio, auction hosted by The Wendt Group, a 2014 Versatile Model 450 DT (1,149 hours) with tracks went for $232K, a 2010 Versatile Model 375 4WD (1,180 hours) went for $122K, and a 2012 Model 305 (1,137 hours) set a new Machinery Pete price record at $158K.
“(These were) not pre-def, but they’re still bringing a premium, as they should,” says Machinery Pete. “Because if you want to go buy a new track tractor, a new whatever – 400 HP, four wheel drive (tractor), it’s going to cost you your piggy bank and your neighbor’s piggy bank. So, the used ones are attractive.
“I think what’s happened is since the supply chain (issues) coming out of the pandemic, the price increases on new have gotten so aggressive,” he adds. “Down at Commodity Classic in Houston, Deere comes out with a new big 830 RX tractor, and we do a video on it and people are like, ‘Oh, really? That’s cool. But hey, Pete, what’s the cost?’ And it’s like, well, it’s $1.3 million. So, I’m sorry, but that makes for a nice ten-year-old one.”
As spring marches on, Peterson says it would be wise to not just focus your search efforts on the auction market, but to also keep checking in with your local dealer network. Many dealers are incentivized to work through stockpiles of used machines on lot. Deals can still be had there, he says.
“I think for the rest of the year here, there will be some more off the dealer lot (specials), maybe some specials of special financing, or different offers, and auctions will do what they do,” he says.
Upcoming Auction
This week there’s a big Ag-Pro two-day ag, turf, and construction equipment auction that Machinery Pete will be watching. Day one (Tuesday, April 23) is mostly lawn equipment and other small horsepower stuff, while Wednesday, April 24, is large horsepower construction and ag equipment.
Learn more at MeritAuctions.com.
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