Used four-wheel-drive tractor values and auction pricing have been on fire the past 18 to 20 months. Premiums are being paid for slightly older pre-DEF, pre-Tier IV four-wheel-drive models in nice condition.
I could fill up this issue of Top Producer with examples. Here are just a few eye-opening prices:
- 1988 Case IH 9150 with 4,426 hours, sold for $62,500 at a Nov. 8, 2022, online farm auction in Portage Des Sioux, Mo. That price broke the previous record of $60,000 from 18 years ago.
- 2005 John Deere 9320 with 3,679 hours, sold for $145,500 at a Jan. 19 online farm auction in Bloomfield, Neb. That’s the highest auction price on a 9320 in the U.S. in nine years.
- 2011 New Holland T9.450 with 1,920 hours, sold for $194,000 at a Dec. 30, 2022, farm auction in Centralia, Mo. That beat the record price by $22,000 from eight years ago.
- 2010 John Deere 9330 with 415 hours, sold for $269,000 at a Sept. 5, 2022, auction in Dexter, Minn. That’s a record by $20,400. Five of the six highest auction prices on 9330s have all come from the past 13 months. The average auction price on 9330s in 2022 was $170,107; in 2019 the average price was $105,287.
- 2010 Versatile 535 with 1,210 hours sold for $217,000 at a Dec. 16, 2022, farm auction in Colman, S.D. That was a record by $29,000. The previous record of $188,000 was just set on Nov. 30, 2022.
But it hasn’t only been the older pre-DEF four-wheel-drive tractors racking up record sale prices.
Chew on the data from this pair of John Deere 9360Rs:
- 2014 John Deere 9360R with 786 hours, sold for $297,000 at a Nov. 7, 2022, online farm auction in Hamilton, Ill. That’s a record price by whopping a $47,000. And, by the way, it was a “bareback.”
- 2012 John Deere 9360R with 3,413 hours, sold for $201,000 at a Dec. 30, 2022, farm auction in Centralia, Mo. That’s the highest auction price ever for a 9360R with 3,000+ hours — higher by $46,000.
HEDGE BUYS
Throughout 2022, I saw farmers buying used equipment in good condition “as a hedge” against potential downtime and a lack of availability for parts. In the past, you used to be able to count on your local dealer having a spare machine you could run in a pinch. Not now.
When you find what you need, you better grab it. Price has become secondary in an equipment market that is now all about availability.
