Are used equipment prices showing any signs of cooling off? Greg Peterson, founder of Machinery Pete, says: No way.
“I’ve been watching this market go higher and higher by the month — for the last 18 months,” Peterson says. “Now we’re coming into the hottest time of year for machinery.”
Peterson points to these two recent mind-boggling auction results:
- A 1993 Case IH 7130 sold for $75,750 at an online auction in Emerson, Neb., on Nov. 16. That’s a record high (clipping a record from almost 10 years ago).
- A 2010 John Deere 7930 sold for $170,000 at an auction in Waverly, Iowa, on Nov. 16. That’s a record-high auction price.
- A 2017 John Deere 9570RX sold for $531,000 at an online farm auction in Emery, S.D. on Nov. 17. That’s the second-highest auction price Peterson has ever seen on a modern farm tractor.
Video from @AgDayTV today where I highlighted record prices on CaseIH 7130, JD 7930, JD 4440 and JD 9570RX tractors sold at auction last week: https://t.co/HTbhRDdg5D@BigIronAuctions @SteffesGroup @JoelsTractors @wiemanauction pic.twitter.com/3uCR4m5Qxq
— Greg Peterson (@MachineryPete) November 22, 2022
