August 11, 2011
This 1995 John Deere 7800 2WD tractor with 3,454 hours sold for a record high auction price of $62,250 on a November 23, 2010 sale in north-central Iowa.
I’ve always liked the “back in time” hook. 10 years ago today, this happened. 50 years ago today, that happened. Love it. Valuable perspective to be gained I think from occasionally looking in the rear-view mirror.
I had a little fun recently on our Machinery Pete Facebook page. On July 24th I went back in our auction price database and found a farm sale from July 24, 2001. So the 10 Years Ago Today hook. What I found was most interesting:
July 24, 2001 farm auction, west-central Minnesota
1994 John Deere 7800 2WD tractor with 1,800 hours, 1 owner, sold $44,000
Now compare that $44,000 auction sale price from 10 years ago to these JD 7800 2WD tractors sold more recently at auction:
- 6/28/11, north-central Indiana: 1995 model, 4,232 hours, $56,000
- 11/23/10, north-central Iowa: 1995 model, 3,454 hours, $62,250
- 12/10/10, northwest Iowa: 1993 model, 4,497 hours, $50,000
- 8/9/10, east-central Illinois: 1996 model, 1,871 hours, $56,000
So 10 years older, with three of four examples far greater number of hours, yet worth significantly MORE money. Quite interesting indeed.
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.