You know the used tractor market is hot when 3-6 year old models are selling for more $$ than they went for when they were 1-2 years old.
Case in point: the John Deere 8330 tractor. I began to see 8330’s sell at auction back in late 2007. From that time up through the end of 2011 I only saw (1) JD 8330 ever sell for more than $150,000 at auction…the 2009 model 8330 with only 526 hours on it sold for $154,000 on a December 10, 2010 farm auction in northwest Missouri.
Since early 2012 I have now seen (8) JD 8330’s sell for more than $150K at auction, including (2) very recent examples from farm auctions in Iowa. The JD 8330 pictured above, a 2010 model with 1,643 hours, just sold on a July 10, 2013 farm estate auction in north-central Iowa (Hubbard, IA) for $162,000.
But the topper was the 2008 model JD 8330 tractor with only 277 hours that sold on a June 29, 2013 farm retirement auction I covered in southwest Iowa (Lenox, IA). It went for $210,000….$42,500 over the previous record high auction sale price of $167,500. Here’s a pic of the 8330 sold for $210K:
This trend of rapidly RISING values on really good condition used tractors began picking up speed last August (2012) and is showing no signs of slowing down here through mid Summer 2013.
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.