Auction Record levels to stay on used iron

notafarmer

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Greg Peterson writes "Machinery Pete" column for Successful Farming magazine and appears on the Machinery Show on RFD-TV, talking about trends in the used equipment market .
At a recent retirement auction in northeast Wisconsin ? on March 13, 2012, to be exact ? a farmer asked me how long the high prices were going to last. The farmer who asked the question smiled. I smiled. We shuffled down the line of equipment as it sold, and we had a nice chat.

As I jotted down sales prices, I discovered there were five more record-high auction prices set on this sale, including $6,750 for a Kilbros 375 gravity wagon.

The next day I zipped up to Northfield, Minnesota. The sale was another retirement auction. This one was for 76-year-old farmer Ken Sherwin, who had a beautiful line of later model Case IH equipment.
He wondered if he should have had his sale last fall.

I reassured him that his sale would go just fine and not to worry. Sure enough, two more record-high prices were set. One record was on his Case IH 2366 combine that sold for $140,000. (The previous high price was $134,000.) The other record was set on his Case IH 305 tractor that sold for $170,000.

A few days later, I posted on my Machinery Pete Facebook page that I would be covering a March 24 auction in Jordan, Minnesota, featuring a one-owner Deere 4455.

That evening I got an email from a farmer looking to buy that low-hour 4455. But he wanted to know if I thought he would be buying at the top.

More at http://www.agriculture.com/machiner.../recd-levels-to-stay-on-used-iron_209-ar23943
 
 
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