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We now have the hottest used farm equipment market I’ve ever seen, and a Nov. 6 auction in Maryland is the hottest auction I’ve seen in my 32 years of tracking prices.

This tractor reached a new high record price--surpassing the auction prices of the past 9 years.

As I look to the future of the farm equipment market, I find myself looking back to draw on lessons I’ve learned in the past decades.

This fall and winter, I was frequently asked, “Pete, when is the other shoe going to drop?” This is a good question, as the used farm equipment market was on fire.

This 2005 John Deere 7420 with 2619 hours and new 741 loader from Nebraska was listed For Sale By Owner last week on MachineryPete.com

This 1979 John Deere 4440 with 4533 hours and 1981 John Deere 8440 with 5625 hours sold for strong prices on a 1/28/22 farm auction

I’m here to report used values have actually continued to RISE.

Now the question is: “Machinery Pete, these prices can’t last, can they? Prices and values have to fall, right?”

This tractor is up for sale on March 19.

After we saw so many new records set for machinery prices in 2021, I began to sense a collective response across the ag space as the calendar slid into 2022.