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In this episode hosts Casey Seymour and Aaron Fintel of Moving Iron LLC discuss how the lines of delineation among customers are growing bolder and more robust.

Casey says the customer base is becoming more and more defined — hence, the New Buyer, The Late Model Low Hour Used Buyer, High Depreciation Used Buyers, Five to Ten-Year-Old Used Buyer, and The High Hour Used Buyer.

They start things off discussing the rollercoaster ride we’ve been on the last few years with COVID, supply chain challenges and now the war between Russia and Ukraine and how that is all impacting the equipment market.

Full Transcript

Kim Schmidt:

Hi, I'm Kim Schmidt, executive editor of Farm Equipment. Welcome to Farm Equipment's Used Equipment, Remarketing Roadmaps Podcast. This episode hosts Casey Seymour and Aaron Fintel of Moving Iron LLC. Talk about how the lines of delineation among customers are growing bolder and more robust. Casey says the customer base is becoming more and more defined, hence the new buyer, the late model, low hour used buyer, high depreciation used buyers five to ten year old used buyers, and the high hour used buyer. This is your first time listening, you can subscribe to the podcast on any of your favorite podcast platforms. Okay, let's get things going. Here's Casey and Aaron discussing the rollercoaster ride we've been on the last few years with COVID, supply chain challenges, and now the war between Russia and Ukraine and how that's all impacting the equipment market.

Casey Seymour:

Aaron, how you doing this evening, man?

Aaron Fintel:

I'm terrific.

Casey Seymour:

It's been a rollercoaster ride of a year, man. I tell you what, if you take a look at... Well rollercoaster of about three years now, and if you take a look at end of '19, '20, '21 and here we are in going into '22, we're inside year number three of this post COVID. Now we're involved with all these different... Supposed, we come to the tail end of these shortages and what have you. Though the war with Ukraine and Russia into the mix and that just kind of extrapolates things a little bit more, and it's been a wild ride. When you start looking at equipment pricing, you start looking at how the new one comes in, and where's that depreciation point for the second buyer, and what's that look like? Who are those buyers? Where are those buyers at? How do you keep the first trade guy away from buying the new one? I think that's been a finer line to walk over the last couple years, and I think it ever been in my time in this business. I guess, what are your thoughts on that right now?

Aaron Fintel:

Well, A, this whole that we've been dealing with, this crap for three years now. For three years, there has been something to deal with. Come on, fix it let's roll. It's getting old, it's almost going to become part of life and then we all ate bait, and now there you go, that's just where we're at.

Casey Seymour:

Mm-hmm (affirmative).

Aaron Fintel:

That's my thoughts on that portion. However, with your thinking on how big is that gap got to be and all that, that is a terrific thing to discuss. As we get into the prices, almost every day, every month seems to change. As we're dealing with that in that world, everything is in so much fluctuation, that I think that's going to have some kind of impact on it too, but it used to be as you evaluated equipment what would you, that one-year-old 500-hour thing, what percent back of a new one, would you typically say it would have to be?

Casey Seymour:

Depending on what it was, but somewhere between 15% and 20% was a pretty common number. If not, maybe depending on up to 25% depending on what it was. But that first... If you said that first 500 hours are pretty expensive depreciation point.

Aaron Fintel:

Right. Now with all the availability struggles, and pricing struggles and all this, and the equipment business, is that percent going to have to grow? Because we're talking half a million dollar used machinery all over the place, that's the world we're in.

Casey Seymour:

I think the key point of that is how soon you can have the piece of equipment that you're looking at on trade. If it's a year out or whatever else before you get that other piece, that's one thing. If it's available today, that's a completely another number, and I think it's really hard to put your finger on that right now, because I've watched auctions where you thought you bought something stupid and paid too much for it, and just because of what the market did, you made 9% on the following month, because of [inaudible 00:04:35] things went, right?

Casey Seymour:

I think availability right now is everything in the used equipment guy's handbook is kind of thrown out the window right now, and if anybody can tell you that they've kind of got it figured out as to what's happened with the market, I have a hard time believing that. Because it is moving from one month to the next month. Every time the price goes up, the available piece of the equipment have new stuff. Every time if new price goes up, what's available out there for used, it's going to fall right along with it. I mean, that's just the nature of the beast.

Casey Seymour:

Trying to figure out what that looks like and how you got those things pegged, we are definitely in the market of when you think that you've got it figured out, you're going to wake up the next morning and realize something crazy happened. We saw some steel surcharges last year that were like 30% and 40% steel surcharges on some short-line stuff and some specialty stuff, those kind of things. But those same steel surcharges we saw across all the mainline manufacturers as well, it just got baked into a smaller percent, but the smaller percent was a bigger number on the other side of that, you know what I mean?

Aaron Fintel:

Exactly.

Casey Seymour:

Yeah, so I mean it's just those things you see happening there. I think as you take a look at what's happening on the big picture side of it, you really start taking a hard look at where... Okay, my best example of what I'm ready to talk about here is a chopper. A chopper has been like this for as long as I've been in this business. The reason for that is, a chopper is a very specialized piece of equipment that is "mass produced". I don't know the number of choppers I get reduced worldwide every year, but it's not very many, it's a few thousand worldwide.

Aaron Fintel:

Just a handful, too many.

Casey Seymour:

Right. Some cases that's true.

Aaron Fintel:

Of all makes, just take [inaudible 00:06:31 ] will it make the market a little hungrier?

Casey Seymour:

Yeah. If you think about it, a few thousand get made across all manufacturers, right? Deere, New Holland, Chrome, Cloth, who did I miss? All these different lineups that you see there, you take a look at that first. A custom guy gets the biggest, latest and greatest whatever, and goes out and does their thing and they put 500 to thousand hours on whatever it is, and it comes back and it depreciates 50%, 40%, something like that, or 60%. I mean, it's this huge number that comes back with depreciation costs, and two reasons for that. One it's a big machine that has a lot of parts that need to be replaced when it gets to that point. But secondly is that, second market, the first buyer of the secondary marketplace, there's a certain point when they're going to jump into the market, and that's what you see there. I mean, you see a lot of guys that may have $500,000 trade difference in the first year and their $900,000 machine is now of $400,000 on the machine, because that's where the first buyer is going to come into play at, right?

Aaron Fintel:

There's something compared to all the other lines out there, where that first to second, is such a big damn gap. But second to third is as narrow as any other [inaudible 00:07:57].

Casey Seymour:

Oh, sure. Yeah. It's not-

Aaron Fintel:

Because there's not a... You get to that point where the last 79, 80 and the first 8800 or other than you got a huge jock dramatic series change in there, but you're getting to the point where the guy who's writing the check is looking both ways.

Casey Seymour:

I think you're right, and that's kind of where I think in my example now, as you start looking at a more mainline piece of equipment and you could pick you pick them, right? You pick whatever number you... Whichever machine you want right now. Whether it's a four drive, a combine or row crop tractor-

Aaron Fintel:

Rotary [inaudible 00:08:37].

Casey Seymour:

Rotary hoes, that's a good example too. If you bought a rotary hoe, in the last two years, if you bought a new one today, it cost you about 60% more than it cost you to start with.

Aaron Fintel:

Yeah.

Casey Seymour:

But if you look that, I'm going to use four-wheel drives as my example here today. Let's just say you go out and you get whether it's a... Doesn't matter what it is, right? If it's a Deere 9RX 640 or Case, well what's their quad track?

Aaron Fintel:

620.

Casey Seymour:

620, there you go. One of those you get, if you get three point PTO, high flow pump, you get it pretty well loaded up, you're got a 700-

Aaron Fintel:

[inaudible 00:09:22] refrigerator?

Casey Seymour:

Even get the refrigerator in a seat. Did you know on the Deere, they kind of changed where the refrigerator is on the newer ones. Instead of being under the seat, it's kind of back on top, behind the buddy seat, so you going to have-

Aaron Fintel:

Oh yes.

Casey Seymour:

... more ergonomic.

Aaron Fintel:

It's more like dorm fridge idea now.

Casey Seymour:

It's much more ergonomic. But anyway, if you take a look at one of those machines and you start doing the math on that, you have a $700,000, four-wheel drive tractor, right?

Aaron Fintel:

Right.

Casey Seymour:

Two-track, even about the same. You start doing the math on that and you start thinking about what it is, how many guys do you have out there that are... Where does that point hit? Is it the new one $750,000, something like that? Are you starting to look at that at 650, starting to look at that at 500? Are you starting to... I mean, where's that long line pop in? What's that look like? That's a dance that you got to play, and right now it's hard to make that where that place is at. Because like I said earlier, if you have a machine that's available today, it's got a different price structure than a machine that's available in a year, because no one knows what a year looks like so you're playing the game of [inaudible 00:10:36] have guessing.

Aaron Fintel:

Yeah, the [inaudible 00:10:38] ball factor right now is just bad said, insane.

Casey Seymour:

Yeah.

Aaron Fintel:

I don't, I don't know how you even begin.

Casey Seymour:

Yeah. I think it's hard as you start looking at where those lines play in, and it kind of makes you start thinking about... We've talked about on here. I had a set up in place, until the Ukraine-Russia thing kicked off. I think that whole timeline has gotten moved further to the right there. I mean, you start looking at 2025 now instead of '24. If they don't get a crop planted this year, and I've read they're not going to plant anything, there's some guys that are going to plant some stuff, but it diesel fuels so hit and miss that you don't know what's going to go where. It's pretty safe to say that there's no major agricultural crop exports coming out of Ukraine this year, right?

Aaron Fintel:

Right.

Casey Seymour:

Very safe bet. What does come out is going to be not much to talk about, and it's going to have a big, huge effect on the overall marketplace right now. Especially with what's going on with Russia and how the world's kind of stacked up against them. You start looking at grain exports and those kind of things, I mean they can send stuff to China and all that, but again, it is just a mess all the way around. You start looking at-

Aaron Fintel:

[inaudible 00:11:59].

Casey Seymour:

Yeah, you start looking at the way things are now and you throw interest rates going up, you start talking about cost of just inflation, is climate still. All these different things we have going into play here. When I start looking at 2025 because that's my new number, that's my new time where I think we're going to start seeing some major issues pop up. What I mean by major issues, is that we're going to have some equipment sitting on the lot. We're going to have things that are be sitting there and the way things are looking and those kind of things.

Aaron Fintel:

'25 will be the first inventory adjustment?

Casey Seymour:

Yeah, I think that's when you have... Well, you'll be looking out there and you'll be like-

Aaron Fintel:

Or, inventory realization.

Casey Seymour:

I think yeah.

Aaron Fintel:

Let's call it that, that's fancy.

Casey Seymour:

Inventory realization, yeah. It'll give you that opportunity when you can set back and have the conversation with your used equipment guys, it'll be like, "Yeah- "

Aaron Fintel:

You can go door-to-door, handing out pamphlets on the 2025 equipment inventory realization.

Casey Seymour:

You can do that.

Aaron Fintel:

It's coming, are you ready?

Casey Seymour:

I think to me, that's when this conversation of where's that line for the first buyer come into play? That's going to be a tough one, because I mean your guess is as good as mine, as to what that looks like and how those things play out. But I think in '25 is that first real conversation that you have, and really that first real conversation that you start having when you start really having that conversation to me, is midway through starting out in 24 when I would hope that by 2023 and you go through the whole year that all the factories are back up and running and everybody's got the parts and the logistics chains are figured out. You've got truck drivers back driving trucks, and containers shippers, shipping containers, and those kind of things, and everything's back this some level of normalcy when the factors are back up.

Aaron Fintel:

Well, they're getting shipped, it's getting unloaded is the problem.

Casey Seymour:

Well, I mean a part in all that, so when you start looking at the big picture of everything, when the factory is at a hundred percent capacity, and they're getting everything out like they're supposed to be getting out and you're not ordering a tractor 12 months ahead of the schedule and things are showing up in three month period, two, four month period, six months, something like that, now all of a sudden you have a different conversation that you're having with your people. You're having a conversation of, okay so everything' is really kind of available now. What's that? Pricing. Where's that price take to. I think that knocks 25% or 30% off the price pretty quick.

Aaron Fintel:

That's a big adjustment, because you're talking big numbers, man. We're not talking a hundred thousand dollars used combines.

Kim Schmidt:

We'll get back to Casey and Aaron in a moment. But I wanted to take a moment to invite you to join us to this year's Dealership Minds Summit: Next Level Service Management. This year's event will be in Iowa City, on July 26th through to 27th. To learn more and to register, head over to dealershipmindsummit.com, I hope to see you there. Now back to Casey and Aaron, as they continue their conversation, how both customers and dealerships are adjusting to the changes brought about from inventory shortage.

Casey Seymour:

This initial blow, in my opinion, I don't know that it's going to be that big of a deal in the, in the overall scale of everything. Because I mean, if you're buying something right now, you're buying it because you need it. You're buying it because there's something there that's pushing you to do that. You're not buying it out a necessity. You're not buying it because... Or not buying it out of want necessarily, you're buying it out a necessity and that necessity is I've got 2,500 hours on my combine, I've got 7,000 hours on my four-wheel drive., I've got... You just run down the list, and there's a lot of people listening to this that are saying like, "Well, I've got seven... I just bought a 7,000 hour tractor." That's different pieces of equipment, kind of flow to different parts of the customer base, and I think that's where that lines of delineation I've talked about before, where you have the new buyer that buys the new. You've got the first trade guy that's buying that first trade-in. You got the so on and so forth down the line, but those lines are being-

Aaron Fintel:

All the different segments are going through the same thing. Because the guy that just bought the 7,000 hour tractor, he's a 10 to 15 hour at home, that's why he bought the seven. But even down in his category, it's been huge changes. I think that's your point. It doesn't matter what segment you're in, it's all affected.

Casey Seymour:

Also to that same point is, if you go back to 2009, '10, and '11, and '12, and 13, and look at those timeframes, there were a lot of guys that were coming to the table and buying a brand new combine, and just a one off new machine.

Aaron Fintel:

Right.

Casey Seymour:

I think those customer segments have become... Those walls have become very thick and very high around them, because you start looking at some of these, not every operation can afford a half million dollar combine. Not every operation can afford a $350,000 used combine either, you know what I mean? You start a $500,000 used four-wheel drive, or $400,000 years drive, or $375,000, $400,000 used row crop tractor. I mean, all these big numbers are getting thrown out there, and people... And there's not a short line of people to buy them either, there's a long line of people out there looking to buy stuff.

Aaron Fintel:

Right.

Casey Seymour:

But it's the people that are looking to buy stuff, they're looking to buy a used piece of equipment. I haven't had too many conversations with guys, where they're like, "Well, if I can't get a used one, I just go ahead and get a new one." No one said that to me. I don't hear that being said, right? They're saying, "I need, go find me a used one that's set up the similar hours."

Aaron Fintel:

Well that's because I know my God, the used one is already 400, the new ones got to be six, no way on earth.

Casey Seymour:

Right, and that's my point so I mean, yeah. That's my point. It's that, know what that line of people, what that line of customers like. You bought a new one, who you're taking the first one too, who you're taking the second one to, who you're taking the third one to, all the way through those trade cycles and that washout cycle. I mean, that's something that people talked out and we hear people talk about it all the time, but I can't tell you that it's been that heavily invested in over the last 10 years, like it was the previous 10 years before that. If you go back to 1998... Well, 1995 to 2005, there was a pretty realistic Ted likes, Joe's trade-in, so he's trading in, or his new one... When Joe trades something, Ted loves that. Ted always lines up to get Joe's trade-in.

Casey Seymour:

That kind of stuff, and not to say that hadn't happened since then. But it just seemed like the stories and conversations I've had with people that have been doing this for 30 or 40 years. They always had a guy... That was not always, but they always knew that whenever Joe traded in his new tractor that he ran it for two or three years, that Ted was going to buy that, you know?

Aaron Fintel:

Right, exactly.

Casey Seymour:

Bill was going to buy Ted trade in. You know what I mean? They knew they kind of knew that. Right.

Aaron Fintel:

All three of them bought new in '10, '11 and '12 and screwed the whole thing up.

Casey Seymour:

Yeah, a lot of that. But so I think as you look at some of this stuff and you looking at the way, things are priced to me, I got to say that my real big concern is how soon and how fast does that new... Where is that new got to fall in for that first generation used buyer, to buy that piece of equipment and not compare it to a new one. If they're in the... If the new is readily available.

Aaron Fintel:

Right.

Casey Seymour:

Obviously right now, it doesn't matter because there's no new to be had, right?

Aaron Fintel:

Yeah.

Casey Seymour:

If it's someone, you know.

Aaron Fintel:

Or used.

Casey Seymour:

Yeah. But you have a better shot of getting something used than you do new right now, so it's weird dynamic, and I think that prolification of how these machines are going to start going and across out of the factory faster, is going to have a bigger impact on where that used value falls into and how fast it goes backwards.

Aaron Fintel:

Hey, just what's that word, one more time?

Casey Seymour:

Prolification.

Aaron Fintel:

Prolification, very nice. Today's vocabulary word children, is prolification. We don't talk about machinery [inaudible 00:21:00].

Casey Seymour:

I mean, what are the conversations you're having with guys about this, when you talk to them on the phone?

Aaron Fintel:

Basically, it's almost like it doesn't matter who you talk to, whether it's more of the dealer principle type guy, the used guy, wholesaler, farmer, I mean everybody is just like, what on earth? It's just a wild ride and just hang on, man. Nobody has got anything that they can let go because everything is short, so it's kind of a beat your head against the wall a hell of a lot. Then every once in a while, you knock a brick loose and then that brick is worth $11 billion.

Casey Seymour:

Sure, yeah.

Aaron Fintel:

Then you just keep doing it, so-

Casey Seymour:

Has anyone talked to you? Has anyone said anything about what it look like when this is over?

Aaron Fintel:

No, like they should be honestly. I mean, there's not a lot of... I think last week is the first time I've had anybody mention anything about when the dust settles.

Casey Seymour:

When the dust settles, I mean it's like the dust settles after someone dumps a five cube yard bucket of dirt on your head, that's, that's when the dust settles. That's what that's going to be like.

Aaron Fintel:

Right, it's already here. You just can't see it all real clearly yet, but it's that's here, that's why the dust is here.

Casey Seymour:

But I think the different, like I said a million times here. The difference between this marketplace and other marketplaces that we've had to, we've got to fill back up the inventory line so much.

Aaron Fintel:

There's nothing, it's a both side issue, which it's never banned.

Casey Seymour:

Right. I think that's where the saving grace is right now for the situation that we're heading into.

Aaron Fintel:

Right.

Casey Seymour:

Is that we don't have a lot of used equipment to sell into, right?

Aaron Fintel:

You should have, given the nature of the beast and how much back fill it is going to take. You should be able to see it very clearly very, open in front of you and be able to properly adjust and not have any issues. I mean, everybody got to getting off at your cousin playing Nintendo. Everybody just got to hit reset, okay. We all got to hit reset, start over. There's no reason for anybody to have problems now, except choppers.

Casey Seymour:

I mean I think the best analogy I've thought about in my head is, out here where we live at, if you drive by the same pasture every day and there's nothing out there, but just rolling grassland and out in the middle on top of the hill, you don't see a cedar tree, you see a Cottonwood tree sitting up there on the hill. Then you come back tomorrow, you see another Cottonwood tree sitting on top of that hill and you come back the next day. On the third day, you come back and you see the third Cottonwood tree sitting up there, and you're like, "Hold on, hold on a second. When did these Cottonwood trees come up out here?

Casey Seymour:

When did they start seeing these cottonwoods pop up out here like this?" That to me is the same thing. You're looking at your window and you see two [balers 00:24:19] and then next thing you got a combine sitting there. Then all of a sudden you're like, "We have a used row crop tractor sitting out here, when did that happen?" And it's still here. I think that's when you obviously need to have a lot better control of your inventory than just like, "Oh look, I didn't realize we had to use.... " I've done that before. I'm like, "I didn't realize we had to used row crop tractor right now. I mean, where'd that come from?"

Aaron Fintel:

I look through inventory all day, every day and I'll be like, "What? What is that?"

Casey Seymour:

Yep. I think that's when you see that second or third, one year old, 500 hour row crop tractor sitting out there on the line and you're going... Then that's when you start having that conversation with yourself and you're like, "Holy crap. We've got inventory now."

Aaron Fintel:

Right.

Casey Seymour:

Now we have to start managing inventory again, "Holy crap, what are we doing?"

Aaron Fintel:

Well, yeah. But just the fact that it's sitting there, I mean, it's got to get a little... Let the clock start taking on it, then get worried. Just because [inaudible 00:25:26].

Casey Seymour:

But my point is, you have not one, not two, but you have three.

Aaron Fintel:

But eventually when you're going to have the time where it doesn't sell in 90 minutes, it sells within six months which is totally fine, but that's not the state of panic that we're all in. But that's going to be... And maybe that's how starts. It'll be like a backwards situation.

Casey Seymour:

Well, I think the first situation that I'm going to pay attention to, is when you start looking through inventory and you've got three used row crop tractors sitting there, and you go pull up all these different things. You start looking through all Salesforce and all these different things that we got, tools to go track his doing, with what and you don't see anything on him. Then all of a sudden you're like, "Oh, this is uncharted territory." I mean, it's not, but it'll feel like it. You know what I mean? It'll be like, whoa.

Aaron Fintel:

Right.

Casey Seymour:

It's not windy today, what are we supposed to do?

Aaron Fintel:

Yeah. Is it 2018? What is that.

Casey Seymour:

I think that's some leading indicators to me, when I start seeing those kind of things. Then obviously the big thing is to start watching those kind of machines get sold. Obviously combines are going to get sold first at auction. That happens all the time, right?

Aaron Fintel:

All the time.

Casey Seymour:

They're going to go get beat up for three years before anything else shows up on the auction block, then all of a sudden you'll start seeing some four-wheel drive show up, a sprayer too and then you got a row crop tractor too and it starts all over again, and I think that starts in 25-

Aaron Fintel:

I think you'll have a sprayer problem. I think that'll be second to combines. There's been a lot of sprayer business the last few years, a lot, a lot, a lot, and I think at some point, that's all going to catch up and that'll probably be about the time that does that as well.

Casey Seymour:

But it'll be interesting because like I said earlier, this is the first time we're selling into no inventory. How long is it going to take to catch up? But when window interest rates start playing into, I was going to buy that but now it's cost me a 7% interest, is what I'm looking at now. Of course we got a long way to go before we get there, but that being said, I mean, what happens when that starts coming down the line?

Aaron Fintel:

If you think about it, we've been in this business... I've been in this business for 20 years and I have never ever dealt... Over 20 years in this business now, and I have never, ever had interest be an issue in that entire 20 years.

Casey Seymour:

Yep.

Aaron Fintel:

It's always been under five, It gets to four and guys are like, "Man, I don't know." I'm like, "Shit dude, it's four."

Casey Seymour:

Right.

Aaron Fintel:

We're not going to be in like, "Well, I suppose 2%. I guess we can make that work." That wasn't going to be there forever, you know?

Casey Seymour:

Right. I also think it's a point of reference, because up until 2008, I mean interest rates... When I first started doing this in 2006, 2007, I mean having five and a half or 6% interest was a pretty common thing. It wasn't that wasn't a big deal, and you spend 15 years at pretty much 0% interest. I mean, guys were fighting over who could do 0% interest the longest in tractor house edge, you know?

Aaron Fintel:

Right, yeah.

Casey Seymour:

It was-

Aaron Fintel:

Zero, ten years.

Casey Seymour:

Yeah, I mean it was one of those things, so I don't know. It's going to be an interesting situation and seeing how that dust settles when you start looking at who's the first buyer and where are they coming in at? Who is the second buyer, and where they're coming in at? Who is the third buyer and where they're coming in at? Then what are you going to do with the fourth, and the fifth and so on and so forth? I mean, I think that cutoff between the third trade and taking it to the fourth guy, is going to start getting harder and harder and harder as things progress down the line, for sure. All right, I feel that's a good place to stop. Aaron, if folks want to reach out to you and get more information about what it is that you're doing, what's the best way to do that?

Aaron Fintel:

Smoke Signal.

Casey Seymour:

Okay.

Aaron Fintel:

Homing pigeon, or they ought to be carrier pigeon, I screwed it all up. That's what you get.

Casey Seymour:

Carrier pigeon.

Casey Seymour:

Very active on the Twitter verse from time to time, @ArronFintel, on the Facebook, Aaron Fintel, call me, text me (308) 760-1193.

Casey Seymour:

Right on. I am Casey Seymour. You can find me on Facebook, Twitter and Instagram. That's where you find the latest editions of the Moving Iron Podcast. Also, on the blogs get posted there as well. Go to movingironllc.com for the entire library, The Moving Iron Podcast. All the blogs are posted there, and you get all the information for the Moving Iron Summit coming up in Nashville, Tennessee. That's September 6th, 7th and 8th at the Hilton Downtown, Nashville.

Casey Seymour:

If you're a dealer of any kind, if you deal and only use equipment come. If you are a main line manufacturer dealership, come. If you are anyone that messes with used equipment or talks to people that use equipment, you should probably come to this thing. Check it out, dealers from across the country, Canadian dealers, when they're not locked in their country because of COVID they come. I got some from Europe, again when they can travel, they come as well. Check it out, I think it's well worth your time. Been doing it since 2013, Aaron has been to all of them and there's a good camaraderie that comes from that. Plus you also you got to put a lot of faces with names, so what's one of the biggest takeaways you get from that every year, Aaron?

Aaron Fintel:

Well, it's absolutely the networking, and you don't talk much business at all whatsoever when you're there. I never do anyway. It's this guy, you call, text and email the other 362 days of a year. Now you see him, you're in the same room as him and you're sitting by him at meetings and shooting this here, and just getting to know people and how they work and what they're after and what they're about. I mean, that's tremendous.

Casey Seymour:

Yep.

Aaron Fintel:

There's a lot of to get away from, or to take from the programming as well.

Casey Seymour:

Right on. Yeah, I would agree with that. I mean, that's one thing too. Is like, get the occasional, what are you guys doing with combines? What are you guys doing with four-wheel drives? What happens with this, that and other thing? How do you handle these situations? You get a little bit of that, but it is a lot of just getting to know everybody, and networking and taking a few things away from the speakers that come. Highly recommend that you check that out here-

Aaron Fintel:

Building relationships.

Casey Seymour:

Building relationships, fostering relationships across manufacturer lines. If you're still interested... If you want to come to that, go to movingironllc.com. Go to the Moving Iron Summit tab, check that out, all the information is there. If you need more information, send me an email@movingironpodcast, at movingironpodcast.com and I will get that to you. I got a YouTube channel as well, check that out. Moving Iron Podcast, YouTube channel, check that out and also got a LinkedIn page check that out as well. With that, I am Casey Seymour with Aaron Fintel. Let's move some iron folks, I can't believe I just said like that. Let's go move some iron folks.

Kim Schmidt:

Thanks to Casey and Aaron for sharing their conversation with us. You can keep by the latest industry news by registering online to receive our free newsletters, visit www.farmequipment.com. For Casey and Aaron, as well as our entire staff here at Farm Equipment, I'm Kim Schmidt. Thanks for listening.

Sound Effects: Jahzzar - Magic Mountain