Machinery Pete - Equipment Auction News
Get the latest farm equipment news, auction trends auction results from Machinery Pete on AgWeb, including Pete’s Pick of the Week.
Check out used farm equipment listings on MachineryPete.com.
Machinery Pete notes two record-breaking Massey Ferguson sales as well as one that came close to setting a new high mark in this week’s Pete’s Pick.
No one knows more about the world of used ag equipment than Machinery Pete. As he peers into his crystal ball, he says the new year could be a good time to buy late-model used machinery because trends point to a turnaround that could happen quickly.
Machinery Pete details two record-setting auction transactions on a 2014 New Holland TV6070 bi-directional tractor and a 2022 Brent 2596 grain cart on tracks as well as a near-record sale on a 2008 John Deere 7930 tractor.
Recent auctions in Bible Grove, Ill., and Crofton, Ky., featured a fleet of high-quality equipment, drawing significant interest and competitive bidding.
Semi demand continues to hold strong, particularly for low-mileage, earlier emission-tier models. For example, at a retirement auction in Missouri a year ago, a 2017 Peterbilt 389 Glider day cab semi with 34,493 miles sold for $350,000.
Timing is everything, according to the equipment pricing trends Machinery Pete is watching.
Machinery Pete also shared the results of a special Allis-Chalmers auctioned off for charity on Nov. 9.
Machinery Pete shares about a special Allis-Chalmers 8070 to be auctioned on Nov. 9 and a recent auction that featured quite the collection of early model John Deere tractors.
Digging into his data, the average auction prices for Case IH Magnum 290 and John Deere 8285R tractors are both down 34% this year versus last year.
Despite concerns over rising costs and current economic challenges in agriculture, the market for used equipment remains strong, particularly for older, simpler models.