Auction Pete's Point of View

frank

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2011 NH BR7090 round baler sold for $35,000 on north-central Iowa farm sale yesterday - 7/11/2012


PRICES FROM IOWA SALE YESTERDAY
Nice farm auction yesterday (July 10, 2012) near Webster City, IA (north-central Iowa). Here are a few sale price highlights:

2003 Ford-NH TG285 tractor with 1883 hours: $97,000
1994 JD 8970 4WD tractor with 5747 hours, bareback ($19K repairs): $77,500
1979 JD 4640 tractor, lot of work done: $17,000
2003 NH CR940 combine with 2053 engine hours: $76,000
2010 NH 99C 8R-30 stalk cutter corn head: $50,000
2006 NH 74C 30' platform, full fingered auger, Crary air reel: $18,500
Brent 774 grain cart: $16,500
1991 Freightliner FLD 112 semi, 3176 Cat, 699K miles: $7,750
1996 Merritt 42' Aerolite aluminum hopper grain trailer: $18,750
2011 NH BR7090 round baler: $35,000
2005 Kinze 3700 24R-30 planter: $53,500

So Ok, great to know these sale prices....but vitally important to know context and how these fresh sale prices compare to other similar items sold over past month, quarter, year, etc. Let's take the NH TG285 Tractor with 1883 hours for example....now if you follow by Machinery Pete column in Successful Farming magazine, watch our "Machinery Show" on RFD-TV Thursday or Sunday night, or follow my internet blogging you know what I've been saying about the used Tractor market for going on a good year now......ON FIRE! So the NH TG285 tractor with 1883 hours sold $97,000 on yesterday's farm auction in north-central Iowa....how does $97,000 stack up??

VERY WELL....market for good used Tractors still ON FIRE.

I'm not just saying "ON FIRE" to hear myself yak...I'm saying "ON FIRE" because I'm comparing CURRENT sale price data to PAST sale price data on similar items....and CURRENT sale prices are higher, on good used TRACTORS at least. Here's scoop:

7/10/12 sale north-central IA: 2003 NH TG285 with 1883 hours, sold $97,000
2/18/08 sale east-central MO: 2004 NH TG285 with 1025 hours, sold $97,000

...I look at that and know that Feb. 2008 was an extremely HEATED used equipment market time, commodity prices had just surged higher in mid November 2007 and I saw auction sale prices SPIKE HIGHER across the board on all types of good used equipment....but even so, look at this comparision, that NH TG285 sold back in February 2008 was only 4 years old and had 1025 hours, and it sold for $97,000. Now look at the 2003 TG285 sold on the north-central Iowa sale YESTERDAY....9 years old with 1883 hours and it brings the exact SAME $$...$97,000. So you can see looking at this type of data comparision why I've been saying the used Tractor market has been "ON FIRE".

MORE OBSERVATIONS: the 2005 Kinze 3700 24R-30 Planter sold for $53,500 on yesterday's north-central Iowa auction was interesting to me....used 24-Row Planter values definitely "softened" up in late 2009 on through much of 2010, but began to kind of SOLIDIFY late in 2010 through 2011. Going into 2012 I wondered if possibly values on good used 24-Row Planters would dip a bit again.....so far I'm not really seeing any super clear signs of this. $53,500 for Kinze 3700 yesterday is right about what other similar Kinze 3700 24R-30 Planters have been bringing....$51,000, $51,000, $52,000, $52,000, $61,000, $67,000. Used HAY BALER values on the other hand have been BOUNCING BACK off significant lows the past few years...so the 2011 NH BR7090 round baler sold on yesterday's north-central Iowa farm sale for $35,000, how does that compare?? Well, I saw very nice 2010 model NH BR7090 that had done only 415 bales sell for only $24,000 back on a March 18, 2011 auction in southwest Illinois....March 2011: used Hay Baler values still "soft", been RISING since mid 2011.

PETE TO COVER TRACTOR COLLECTOR AUCTION SATURDAY IN ROCK VALLEY, IA
Should be BIG FUN Saturday (July 14, 2012) out in western Iowa on the edge of Rock Valley, IA where I'll be covering the tractor collector auction for well known used equipment buyer/seller Albert Groenweg. (37) VERY NICE IHC & JD Tractors from the mid 1960's to early 1970's on this sale...Albert's personal collection. I can't wait to get out there Saturday to shoot some fun video for our Machinery Pete Youtube channel.....should be a fun day. Hope to see you at the sale :) If you can't make it, stop back here at www.machinerypete.com and check out the Youtube video(s) I'll post with sale highlights Saturday night into early next week.

More auction results at http://www.factsreport.com/
 
 
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