Auction Pete's Point of View

frank

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JD 400 30' rotary hoe (Like New) sold for $9,100 on southwest Iowa farm auction Saturday - 9/5/2012


WOW: HOT PRICES ON IOWA SALE
Since that USDA crop report came out back around Aug. 10th and corn & soybean prices surged higher I've been watching a steady build up in the level of PREMIUM folks have been paying for very good condition used equipment. Just chew on these sale prices from nice farm estate auction last Saturday (Sept. 1, 2012) in southwest Iowa:

2002 JD 8320 MFWD tractor with 1052 hours: $149,000 (NEW RECORD PRICE)
1997 JD 8200 2WD tractor with 1319 hours: $82,500 (NEW RECORD PRICE FOR 2WD)
2001 JD 920F 20' bean head: $17,500 (3RD HIGHEST PRICE EVER ON 920F)
1992 GMC Kodiak truck, 33558 1-owner miles, 20' Omaha box/hoist: $56,000
Brent 678 grain cart, roll tarp, no scale: $24,000 (2ND HIGHEST PRICE)
JD 400 30' rotary hoe, like new: $9,100

...I saved the best one for last didn't I? I've now seen (951) JD 400 ROTARY HOES sold at auction going back 16+ years...and $9,100 is the 2nd highest auction sale price I've ever seen ($10K on 12/11/09 north-central Indiana farm auction for 30' in "Like New" condition with < 1000 acres use). Or would you say that 1992 Kodiak truck sold for $56,000 was the eye opener of the day? You could certainly argue for the (2) JD Tractors which each sold for the highest auction sale prices I've ever seen on those models. The 1997 JD 8200 2WD with 1319 hours sold for $82,500....that's $8,500 over the previous high sale price I've ever seen ($74K on 4/2/09 farm auction in southeast Nebraska for 1996 2WD with 1940 hours, excellent, "showroom condition").

2 days later on a Labor Day consignment auction in southteast Minnesota (Dexter, MN),a sale by Hamilton Auction Co. a 1996 CaseIH 7230 MFWD tractor with 1220 hours, super nice, sold for $95,000.....a NEW RECORD HIGH AUCTION SALE PRICE by a mere $27K! For more proof of the rapidly RISING used values on really good condition used equipment, especially TRACTORS, just click on the Facebook link on our homepage...our Machinery Facebook page is littered with nearly a dozen examples of new record high auction sale prices on recent sales across the upper Midwest.

Now of course one issue I'm watching very closely is WHERE the sales are now....how much "softer" if at all are prices on good used euqipment in severe drought regions like central Indiana or parts of Kansas? Stay tuned...

2012 BUCKLEY OLD ENGINE SHOW: BUCKLEY, MI
Here's a fun Youtube video I posted the other day with highlights of unique Ford Tractors displayed at the 2012 Buckley Old Engine Show in Buckley, MI back on August 16-19th. Auctioneer Dan Gingell talks about a few Fords that caught his eye. I end the video with a look at Ford 8N Tractor values over the past 15 years:

To watch the video http://www.machinerypete.com/Blog/Default.aspx
 
 
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