The mid-to-high horsepower used tractor market is still on fire. Despite increased inventory on dealer lots, auction prices have remained high on good condition loader tractors in the 150-hp range through the big four-wheel-drive and large track units.
In August in Arcanum, Ohio, a Case IH Magnum 315 with 1,024 hours sold for $245,000 — $5,000 over the record set a year earlier by a model with half the hours. At the same auction, a Case IH 8910 2WD with 3,807 hours sold for $75,000, breaking 2022’s record for that model by $10,000.
This scenario has become common. Three weeks prior, at an Ellsworth, Iowa sale, a 2012 Case IH Magnum 225 with 903 hours sold for $162,500, smashing a 10-year record by $22,500.
A June 27 online farm auction in Lostant, Ill., produced two record breakers.
A 1997 Case IH 8920 front-wheel assist with 2,827 hours sold for $125,250 — $25,250 higher than the previous record. Then, a 1995 Case IH 7250 front-wheel assist with 3,653 hours sold for $127,750 and obliterated the 12-year former record auction price by $42,250.
This trend isn’t just for red tractors. In June, a 2017 John Deere 6195R with 597 hours and a small crack in the hood sold for $172,000 at a Raymond, Iowa, auction, beating the previous record by $33,600. Then, in September, a 2003 John Deere 8420 with 3,741 hours sold for $199,000 in Fort Madison, Iowa, setting the new record by $17,000.
Auction Action: 5- to 10-Year-Old Tractors
| Make | Model | Year | Hours | Price | Location |
|---|---|---|---|---|---|
| John Deere | 8400R | 2018 | 947 | $356,380 | Tupelo, Miss. |
| John Deere | 8345R | 2017 | 1,147 | $315,000 | Raymond, Iowa |
| Fendt | 1042 Vario | 2018 | 2,932 | $310,000 | Goodhue, Minn. |
| Case IH | Magnum 340 | 2018 | 376 | $302,000 | Paris, Mo. |
| John Deere | 8320R | 2015 | 1,645 | $280,000 | Farmer City, Ill. |
I’ve seen nearly 400 John Deere 8420s sell at auction over the past 20 years. Setting a record-high price by as much as $17,000 used to never happen, but lately it’s been occurring almost daily.
As used inventory levels for mid-to-high horsepower tractors continue rising, these scorching hot prices should begin to cool off. In the short term, however, the year-end tax-motivated buyers are likely to come out in November and December, meaning used tractor values likely will remain strong.
