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1993 JD 4960 on Ohio sale today: $114,000
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Machinery Pete
Posted 1/25/2013 14:25 (#2849131 - in reply to #2848066)
Subject: RE: Question for you Pete -


Owl, I'm not sure as to who bought the tractors & semi. Wish I could have been at the auction myself but been on speaking tour up here in MN all week. I think natural to wonder about all these super high sale prices we're seeing...can certainly seem to "not make sense", but I think our current reality is just something we haven't experienced before...kind of the perfect storm for very high used values. One of the driving causes I think is the extreme lack of auctions. Think Jan. '13 may be the SLOWEST month I've seen in 23+ years of tracking sales, just hardly any good sales around....so when a really nice one like this shows up......WHOOSH can go the prices.

Actually, I think the great auction firms and the auction method are just perfectly positioned in this environment
to maximizeX5 or X10 the value of very good condition used equipment....especially Tractors. No question an implement dealer could never achieve prices like $114K for the JD 4960 or probably $32,500 for the Vers. 850. But again, yesterday's Ohio sale not isolated example. I covered a farm estate auction 12/12/12 in north-central IL, 2000 model JD 8310 sold $46K over prior high auction price I'd recorded......$46K over....just amazing. But what's a NEW 200 HP tractor cost? Can you even get one if you want to buy new?? How many other auctions around??? So that JD 8310 on the IL sale, just bought by a local farmer who knew the guy who passed away, knew his stuff was all clean, shedded, maintained, super low hours, etc. So again great auctioneers just hyper focus all these current realities......and we get the prices we're getting.

...of course the Feds bumping the IRS Sec 179 write off limit back up to $500K for '13 can't be overlooked either. HUGE factor, just huge. Pedal to the metal. Strong commodity prices, rest of the world economies lifting (China, India, southeast Asia, Africa even)...they need what you guys grow. So just a very bullish attitude out there currently....obviously as these prices show.

Sorry to get so windy....can you tell I enjoy yakking farm equipment trends :-)

Pete
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