Used equipment values have continued to increase the first quarter of 2021. That’s true across nearly all equipment categories, including self-propelled sprayers.
The perfect storm for used equipment values stems from:
- Rising farm income
- Increasing price of new equipment
- Higher steel prices
- Tighter supply of new and used equipment in good condition
SPRAYER PRICE SURGE
We can analyze and quantify the rising values on used sprayers in several ways. During the month of March, we saw a 27% increase in search traffic for self-propelled sprayers for sale at MachineryPete.com versus February.
As such, it was not surprising to see the onslaught of very strong sprayer auction prices in early 2021. One striking example is the Apache AS1020 sprayer (1,000 gal., 100' boom). In the past seven years, the highest auction price was $133,000.
That price was surpassed twice already in 2021; both were online farm auctions by Sullivan Auctioneers. A 2016 model AS1020 with 926 hours sold for $147,000 on Jan. 22 in Manning, Iowa. Then a 2017 model AS1020 with 814 hours sold for $153,000 on March 4 in Hoxie, Kan.
The highest auction price (and a record) on a sprayer so far in 2021 is $335,000 for a 2019 John Deere R4038 sprayer with 215 hours at a Steffes Group farm auction in Roseglen, N.D., on March 17.
Check on Auction Price Data for FREE, at MachineryPete.com
Using search filters, you can see the 471 sprayers sold in the past six months. Click “View All on Map” to see where those sprayers sold (see map.) Then dive into the “Average Pricing” tool. A search of John Deere 4830 sprayers, for example, shows a record number were sold last year, which explains why the average auction price dropped 15% from $103,971 in 2019 to $88,520 in 2020, but in 2021, the average price is up 25% to $110,500, which is higher than the average dealer advertised price of $110,033.
