Over my 30 years of tracking auction data, the summer into early fall months have tended to be a softer pricing period. I n 2019, given the strong headwinds blowing against the ag economy, it’s natural to think we would see the same trend.
Well, kind of — I am seeing softer sale prices, but it’s mostly focused on equipment in average to below average condition. Prices for used equipment, namely tillage, in good condition have been fairly steady.
Used Tillage Equipment Search Traffic
- 14% increase, September versus August 2019
- 37% increase, September versus July 2019
I saw this trend play out at a Sept. 24 farm retirement auction in northwest Minnesota, where we filmed for “Ma-chinery Pete TV” (watch shows at MachineryPete.com/mptv). While a nice 2013 Versatile 450 4WD tractor with only 498 hours (but not the preferred transmission) was a great buy at $121,000, the hottest items at the sale were several nice tillage items:
2014 John Deere 2210 55½' field cultivator. The four-bar harrow, which had been used on fewer than 3,500 acres, sold for $58,000. That’s the highest auction price this year and only $2,500 off the highest auction price in 34 months.
2011 John Deere 2410 33' chisel plow. I stood with a father and son who were hoping to buy it in the $20,000 range. No dice — it sold for $27,500.
I can also see rising buyer heat on good used tillage equipment when I look at the highest auction prices from 2019. Here are many examples from July through September:
Sunflower 6433 43' land finisher; $77,000; July 11 farm auction in Chatsworth, Ill.
2018 Salford I4100 41' vertical tillage disk; $70,467; July 11 farm auction in Melville, Sask.
2016 Case IH 875 11-shank, 22' disk ripper; $60,750; Sept. 11 Bigiron.com auction, Keenesburg, Colo.
John Deere 2730 18' combination disk ripper; $50,500; Aug. 23 farm auction in Hadley, Minn.
In my quarterly Machinery Pete “Used Values Index” report I mentioned the slow and steady decline of used tillage equipment values from first quarter 2014 through fourth quarter 2018. But those values began to tick upward dur-ing the first quarter 2019 and haven’t looked back since.
Watch Greg discuss the tillage equipment market and the farm auction in northwest Minnesota at AgWeb.com/tillage-market
Greg Peterson is the most trusted name in farm equipment. Visit MachineryPete.com, for his latest analysis as well as equipment listings from dealers and equipment for sale at upcoming auctions.
