The used farm equipment auction market continues to show robust demand and strong resale prices for good condition, used loader tractors.
That’s exactly why Greg “Machinery Pete” Peterson highlights three strong loader tractor transactions as his most recent Pete’s Pick of the Week.
At a Purple Wave online auction, a 2022 New Holland T5.110 tractor (885 engine hours) with a loader implement (pictured top of page) sold for $61,600. Pete says that is the highest auction price ever for that year/make/model, according to MachineryPete.com sales data. The machine was from Broken Bow, Okla.
At a Younger Auction Company sale in Rockport, Mo., a 2014 Case IH Maxxum 125 tractor (2,135 hours) with a L756 loader sold for $72,500, which Pete says is the second-highest auction price ever for that model with a loader and more than 2,000 engine hours.
And at another Purple Wave online auction, a 2021 John Deere 6155M tractor (860 hours) with a 640R loader implement sold for $135,300. Pete says that is the third-highest auction price of all time with a loader and more than 500 hours.
“Dollars are tight all across ag and, you know, not much new stuff is selling — and we understand why,” Pete says. “I think [we saw] more layoffs at the manufacturer level last week, unfortunately. So when this continues to stretch out, but you [still] need horsepower and equipment on the farm, what you tend to look for is the best condition used [machinery].”
Pete also shares this nice story out of Plain City, Ohio, where a young farmer named Wyatt bought his great grandfather, Don Hess’s, old John Deere 430 tractor at an auction for $900. It was also the young man’s birthday, so quite the 24 hours for that auction goer out in Ohio.
“It was just very cool, and it made a lot of people happy to see a young person interested in their great grandfather’s history and tractor, and keeping that in the family,” Pete says.
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