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.
You run it for a few years and then voila — you have the low-hour, 10-year-old unit everyone wants.
Machinery Pete says going the online auction route has tangible implications if you’re looking to sell a piece of equipment (or five) to manage cash flow.
From Jan. 1 to Aug. 4, Machinery Pete has seen 66 new to 3-year-old planters sell at auction. Twenty sold during that same time frame a year ago, 10 in 2022, 14 in 2021 and a mere six in 2019.
Machinery Pete says it could be dangerous to rely on past equipment sales patterns
Highlights included a restored 1971 International Harvester 1456 and many late model tractor and combine deals.
Nine months ago, high-horsepower tractors were selling for record-high auction prices. Those same models are now bringing more than $100,000 less. As prices trend down, the opposite is happening with inventory on lots.
The world of used farm equipment changed dramatically during the pandemic as auctions moved to online rather than in-person events. According Machinery Pete, the change was both significant and permanent.
Machinery Pete shares some of his recent observations from the new and used farm equipment sectors.
Machinery Pete selected a pair of used tractors as his Pete’s Pick of the Week on AgriTalk Radio. He also discussed the over supply of late model, high horsepower tractors pushing prices down on dealer lots.
Pete’s Pick of the Week uncovers yet another decade-plus, four-wheel-drive tractor that fetched a high price at auction. He also has his eye on two upcoming used equipment auctions this week.