I’ve been seeing some very strong auction sale prices on good condition used tractors across the upper Midwest the second 1/2 of August.
One example is the 2007 JD 8330 MFWD tractor with 850 hours sold for a new record high auction sale price of $167,000 on an August 24, 2012 farm auction near the southwest Minnesota town of Luverne. The previous high auction sale price I’d recorded on a JD 8330 was $157,000 on a farm auction in west-central New York on February 22, 2012.
So a $10,000 jump in price here.
The next day, August 25, 2012, on a farm auction in northeast Iowa, a 1998 JD 8100 MFWD tractor with 3,190 hours sold for $101,000. That is the 2nd highest auction sale price I’ve ever seen on a JD 8100. The highest auction sale price is $105,000, coming on a November 19, 2011 farm auction in northwest Ohio. That JD 8100 was a 1999 model with only 1,340 hours. Here’s a picture of the JD 8100 just sold for $101,000 on the August 24, 2012 farm auction in northeast Iowa:
Auctioneer David Burrack of Northeast Iowa Auction Co. told me they had phone calls on this sale from GA, NJ, MO, IL, MN, WI and ND in week leading up to sale day.
Still tremendous buyer demand for high quality used farm equipment.