Machinery Pete highlights a trio of used John Deere tractors as his Pete’s Pick of the Week. Monday morning’s R&M Motors retirement auction in Berlin, Wis., helmed by Wilkinson Auctions, served as the setting for three record price smashing tractors.
This 2002 John Deere 7510 model has 13 actual hours. As of this writing, it was sitting at $125,025 with bidding yet to close. The previous record for that model was $120,750.
This 1992 JD 4055 with only 22 actual hours was sitting at $124,025, easily blowing past the previous high for that model. Machinery Pete’s sales data shows the previous high was $93,007.
This 1992 JD 4455 with 60 hours skyrocketed up to $110,025, where it still stood as of noon CT. That model’s previous record high was $97,850.
“I’ve been doing this for 34 and a half years now, so you’ve got people from all over the world on this online auction, and before they even start the live chat you’ve got a locked in price right there. It’s a function of how things are different today,” Peterson told AgriTalk host Chip Flory during his weekly Monday morning appearance on the program.
Speaking of things being different today versus in the past, Machinery Pete shared advice for the next generation of young farmers that are slowly taking over the farm as the Baby Boomer generation hits retirement age.
“It’s my theory of opposites,” Peterson explains. “It’s basically, when everyone is running one direction…you train yourself both mentally, and then in the long term, getting yourself financially into position to, you know, be aggressive when everyone else is pulling back, and then vice versa, when everyone’s full on and saying ‘Hey, let’s go spend money’ you pull back.”
Machinery Pete shared this same strategy back in December of 2015, when farmer dollars were tight.
“I said, ‘Hey, guys, I don’t mean to tell you what to do here but you’ll never have a better chance to be a buyer than right now’. Dealers were stuck with way too much late model stuff, and nobody was wanting to buy stuff. That’s when you have to have the money to act, and you can get unbelievable value.”
Upcoming Auction to Watch
Machinery Pete has his eye on a two-day spring consignment auction May 3-4, starting at 9 a.m. ET each day. The auction, hosted by Jeff Boone Auction & Realty, will take place online and in person in Markleville, Ind. The first day will feature used tractors and farm equipment, and day two will focus more on lawn and garden.
Too many used equipment auctions to track? Keep an eye on Machinery Pete’s Facebook page for the latest used equipment auction news.
Have a used tractor you’re looking to sell? List it with MachineryPete.com, the most trusted name in farm equipment, and reach thousands of potential buyers.
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