August 22, 2011
Used John Deere 8345R
I covered a very nice farm retirement auction yesterday (Aug. 18, 2011) in Northfield, MN, located just south of the twin citites.
Lots of well maintained, low hour and late model tractor equipment on this auction. The owner, Lawrence Schweich, was retiring due to some health problems. Great crowd at the sale yesterday. Sale prices? Very strong I thought, particularly on a pair of John Deere tractors.
A 2010 John Deere 8345R MFWD tractor with 384 hours sold for $242,000. Back on March 30, 2010, I shot video at a farm auction in east-central North Dakota where a 2010 John Deere 8345R with zero hours, yep, zero hours, sold for $227,500. So here we are 17 months down the road and the 2010 8345R with 384 hours yesterday sells for $14,500 MORE at auction.
Next up came the 2000 model John Deere 8110 MFWD tractor with only 354 hours. An 11-year old Deere tractor in like new condition with only 354 hours? Recipe for hot bidding. The bidding certainly was “hot” with the 8110 selling for $112,500, the second highest sale price I’ve ever seen on an 8110!
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.