Strong auction pricing is holding across all types of used farming equipment, and older, pre-DEF combines and tractors are leading the bump-in-value charge.
For example, the average auction price on a used John Deere S670 combine today sits at just over $82,000, whereas last year it settled in at the $80,000 mark. Keep in mind that used combines are a market bell weather, often signaling trends 12 months to 18 months ahead the high-horsepower tractor segment.
Check out this example from Machinery Pete’s Facebook:
And this 2012, high-hour pre-DEF John Deere 8360R tractor is another solid example.
“The biggest driver right now is total numbers sold, which is way off from last year and from 2023,” Machinery Pete says on the latest episode of the Moving Iron podcast. “We’ll see what happens for the rest of 2025, but total volume is down and we see the same thing with late-model tractors — there just hasn’t been as many sold at auction. But the older machines are holding their value a little better (than late-model machines), that’s the bottom line.”
Pete’s fellow podcast host, Casey Seymour, thinks one of the biggest issues holding used farm equipment sales down today are high interest rates. Dealers with high inventories are stuck with big interest payments for the machines stuck on the lot, which gives them pause when it comes time to bring in new machines or pursue more trade-ins.
“I think a lot of dealers were hoping we’d start to see the buying activity pick up. We’re seeing some activity, but it’s just not fast enough. That flywheel’s not turning fast enough,” he says. “It’s just starting to turn a little bit, but the speed and velocity dealers look for isn’t there yet.”
Pete and Seymour both sense a strong fall harvest could be just the thing to pull more buyers back into the market. Pete thinks the current buying activity hiatus will be shorter and sharper than the one that took hold during COVID.
“We’ve basically hit a stabilization point. If we see another big push to auction at the end of the year, I’m not 100% convinced we’ll see a huge uptick or downtick in pricing,” Seymour adds.
Know Your Locals
Regionalism is everywhere in farming, and it certainly extends to the world of farm equipment. Farmers in the open-acre, pivot-ringed fields of the Nebraska panhandle — where Seymour lives — have different machinery needs than farmers in the gently rolling Kansas foothills.
If you’re a used equipment dealer, Seymour says you must understand the needs of the local farmer and have a good feel for how many regionally configured machines you can move in your area. It also helps to have connections in the heavy equipment transport world so machines you sell via online auction can get to a farmer a few states over without a giant transportation fee.
“The chances of that 25' variable tillage rig selling around Cheyenne or Wells County are pretty slim, unless it’s a smaller outfit,” says Aaron Fintel, used equipment specialist with 21st Century Equipment. “I always try to be dialed in enough that I know exactly where that thing is going to sell. Maybe it came out of Illinois, and I sold that same guy a really nice 40' rig. Now I would bet some guy near Columbus will call about the 25-footer.”
Rounding out the rest of this week’s episode of the Moving Iron Podcast is a segment on the latest commodity market happenings with Shawn Hackett, president and CEO of Hackett Financial Advisors, and an update from John Deere’s Ryan Stien on how growers are using Operation’s Center to organize, view and share all of their machine data within one digital platform.
Want more Moving Iron? Head over to YouTube to watch the full episode and make sure you hit the “subscribe” button to get every new episode.
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