The most trusted name in farm equipment, Machinery Pete, is sharing some timely insights during the 2021 Farm Journal Field Days.
Curated from the pool of questions sent to him, Machinery Pete founder Greg Peterson gives his answers and insights to seven of the top requests and inquiries he’s received from farmers.
This includes:
Do you have a volatility index?
“I started an index report in 2011. Called our Machinery Pete Used Values Index, this specifically tracks on a quarter-by-quarter basis what’s happening with used values,” Peterson says.
Looking backward and looking ahead a bit, Peterson shares a small bit of what’s to come for the rest of the year and he says, “Extrapolating forward is always difficult because we don’t know what’s going to happen tomorrow, but as I read the tea leaves I honestly think through the end of 2021 it’s going to be even more volatile.”
Why did you launch Machinery Pete Auctions?
“We’ve been asked by dealers for years for when are we going to start an online auction. And now was the right time for the right reasons, and we’ve partnered with BigIron.com,” Peterson says.
The first-ever Machinery Pete Auction just concluded with more than $3 million in sold inventory. The next auction takes place September 21. You can learn more and bid online here.
What’s my tractor, combine, planter, etc worth?
“It’s the No. 1 question I get,” Peterson says. “It always has been and always will be. It’s why I started compiling data in 1989.”
He makes note that the Machinery Pete auction database is available for anyone for free. Click here to search more than 800,000 hard cash auction results. https://www.machinerypete.com/auction_results
Other questions Peterson tackles are:
- What’s driving today’s used equipment market—availability, condition of equipment, etc?
- What’s going on with harvest equipment values?
- What is your perspective on the consolidation of dealers and auction companies?
- What does the rest of 2021 look like in terms of the used equipment market?
