2009–2012 was a booming time for agriculture around the world. Commodity prices were high, and on-farm income was at record levels. As a result, ag equipment dealers’ lots were filled with both new and used equipment.
Our expert Casey Seymour answers a reader's question about on valuing equipment for spring auctions in this latest installment of the "Ask the Expert: Remarketing Used Equipment" series.
It’s not a shock to anyone when I say over the last 5 years auction activity has greatly increased. At the end of 2014, used equipment inventories where at all-time highs. The auction market became a dumping ground for all kinds of equipment — late model, high hour and everything in between.
June 1, 2017, was the day John Deere unveiled its new S700 Series combines. I posted a video from the event at lunch time that day. I suspected there would be a lot of interest out there in farm country. By the next morning the video had 7,385 views.
John Deere and Case IH are dominant players in farm equipment, but it’s a big wide world out there, with every color of the rainbow equipment selling daily all across North America.
How do we measure how used farm equipment is doing? For almost 27 years now I’ve been compiling one important measure, actual auction sale prices on all types of farm and construction equipment sold throughout the U.S. and Canada.
I’d call it one of the hotter spots in the used farm equipment market during the past 12-18 months — used tractors in the 100 horsepower range. Auction prices have been solid here in early 2016.
Let's talk used hay equipment, specifically round balers. In 2015, auction prices held steady for used round balers in good condition, but a lot more showed up for sale. I mean a lot more.
It's been the softest spot in the used farm equipment market for the past couple years. I'm referencing late-model, large used planters — specifically 24-, 36- and 48-row models.
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