Auction Pete's Point of View

frank

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2005 JD 693 corn head sold for $29,250 (new record high sale price) on southeast Minnesota farm auction today - 8/11/2012


WHAT'S IT WORTH? DEPENDS ON "WHERE"
Today (Aug. 12, 2012) I covered an exceptionally nice farm retirement auction near Red Wing, MN. Red Wing is a beautiful river town in southeast Minnesota just off the mighty Mississippi River. I was really intrigued by today's sale...for a combination of reasons. On the one hand we've been receiving many auction sale price reports from around the country the last 2-3 weeks with much, much "SOFTER" auction sale prices, especially on COMBINES. Of course the DROUGHT is a huge factor in working to weaken buyer demand in those areas, but also the increasing SUPPLY of later model used Combines on dealers just as big of an issue.....so in these recent large consignment/dealer auctions in IN, IL & NE in recent days...smart dealer and/or dealer groups being proactive to pare down their inventory levels of Combines....if they take a hit on what they go for, that's ok...just keep 'em moving.

So there's that, but at same time I'm also hearing of areas where sales of new Combines and other equipment remain very vibrant & strong. Today's auction in southeast Minnesota (great looking crops) offered more proof of still super strong used values in these areas. Check out these sale prices on today's SE Minnesota farm auction:

2002 JD 8320 MFWD tractor with 820 hours: $143,000 (2nd highest price ever)
2005 JD 9560 STS combine with 1224 engine hours: $147,000
2005 JD 693 6-row corn head: $29,250 (new RECORD high sale price)
Brent 674 Grain Cart: $18,250 (3rd highest sale price ever)
1974 Dodge D600 single axle grain truck with 16' box & hoist, 24,954 miles: $5,750 (record price)

...and then there were the (2) JD 2520 Tractors with low original hours, converted from gas to diesel. Here's a Youtube video I posted this afternoon after the auction showing these (2) beauties sell "Choice" on today's sale:

[video=youtube;lR83UzMzQM0]http://www.youtube.com/watch?feature=player_embedded&v=lR83UzMzQM0[/video]

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