June 7, 2010
On June 3rd, 2010 I did a conference call with a stock analyst from Merrill Lynch. Periodically I get calls from folks on Wall Street looking for insights into the used farm and construction equipment markets. I’m always happy to talk used iron, as I’ve been tracking auction prices for 20+ years now.
The conversation turned to used combines, specifically used combines values. How have they been holding up. I talked about the premium I’ve been seeing folks willing to pay for the really good condition used combines sold on farm retirement or estate auctions the last couple years.
It’s one thing to talk about. It’s better to see for yourself.
So check out this video I shot from a super nice farm retirement auction by Stock Auction Company this past February 11, 2010 just north of Wichita, Kansas. A record high sale price paid for the 1997 JD 9600 combine with 2,809 1-owner engine hours. Also take note of the JD 853A 8-row row crop head…another record high auction sale price. Same for the JD 1517 15-foot rotary mower.
I told the folks on the Wall Street investment conference call Thursday that I think this premium for the really good condition used farm equipment is going to continue. Just a high level of buyer demand for the good stuff.
About Machinery Pete: Greg “Machinery Pete” Peterson has been working in the agricultural industry for 21 years and details agricultural equipment prices and trends at his website, Machinerypete.com. Greg also writes columns for Successful Farming magazine, Implement & Tractor magazine, Agriculture.com web site and also appears on the Machinery Show on RFD-TV.