Picking a topic for Machinery Pete column has becoming very challenging in 2021. Every corner of the used equipment market is on fire, so what should I highlight?
Let’s go big horsepower, as in 4WD and track tractors. Here are a few recent examples of very strong hard cash auction sale prices:
2013 New Holland T9.390 4WD with 1,238 hours sold for $157,000 on 7/9/21 farm auction in northwest Iowa. New record high auction price. Prior record from 6 years ago ($141,295).
2002 Buhler Versatile 2360 4WD with 3,166 hours sold for $99,500 on 7/20/21 online farm auction in northwest Minnesota. New record high auction price. Prior record was $66,250 from last year.
2015 Versatile 550DT track tractor with 874 hours sold for $258,000 on same 7/20/21 online farm auction in northwest Minnesota. Another new record high auction price.
2019 John Deere 9570RX (tracks) with 1,075 hours sold for $415,000 on 3/29/21 online auction in northwest Iowa. All time highest auction price I’ve seen on a modern tractor.
2007 John Deere 9620 4WD with 1,255 hours sold for $270,000 on 3/22/21 online auction in northwest Iowa. New record high auction price on 9620. By mile. Prior record was $195,000 from 12 years ago!
2013 Case IH Steiger 600 QuadTrac with only 268 hours sold for $307,000 on 7/7/21 farm auction in northeast Montana. Highest auction price on 600 QuadTrac in 7 ½+ years. That’s the second highest auction price ever.
1984 Versatile 1150 4WD sold for $126,000 on same 7/7/21 farm auction in northeast Montana. New record high price on 1150. By a Mile! Former high price was $59,000 from 10 years ago!
1980 Big Bud 525/50, complete rebuild in 2005, sold for $173,000 on same 7/7/21 farm auction in northeast Montana. New record high auction price on Big Bud, also by a mile. Former high auction price was $120,000 (set just on 6/21/21 farm auction in east-central South Dakota).
Is your head spinning? You’re not alone. These are just a few examples of what I’ve been seeing.
I’ll leave you with one more zinger, which I’ll qualify by saying I’m a full-blooded Scandinavian, not given to hyperbole. Understatedness is in our DNA.
But as sky high as these recent auction prices are you better buckle up. My gut says we’re about to go higher in by the end of 2021. Folks will be wanting to spend money at yearend to soften the 2021 tax bite via the Section 179 immediate write off route.
This all goes to show you, good condition used tractors are almost like gold.
See the free latest “Auction Price Data” on MachineryPete.com.
