Ask Pete: “Using the John Deere 8310 with 1407 hours on the cart this year. What do you think it’s worth today?” - Twitter follower Jared T.
My reply: Wow…beautiful 8310 you’ve got there Jared! It’s worth quite a LOT more $$ than it was worth a few years ago. I’m sure you’re guessing as much. As for specific current value, let’s start off with the highest 8310’s I’ve ever seen sold at auction.
HIGHEST AUCTION PRICES ON JD 8310 TRACTORS
I was actually there filming the still record setting highest price JD 8310 as it sold on a December 12, 2012 (12/12/12!) farm auction in Genoa, IL. That super sharp 2000 model 8310 with 1209 hours, “1 owner”, sold for $151,000. Here’s video I shot of it selling:
Note the timing of that auction…12/12/12. Very end of '12 through March '13 was the absolute highest I’ve seen the used farm equipment market.
Until now that is. Spring through Summer '21 has rapidly approached that sizzling peak of 9 years ago. And where the heat has been showing most pronounced has been with exactly what our Twitter follower Jared has…a super low hour Tractor with a bit of age on it: JD 8310 with 1407 hours. I’ve been seeing a steady stream of really nice condition lower hour tractors 10+ years old selling for, if not all time record high sale prices, then the highest prices in 7, 8, 9+ years.
Just last month, on an August 18, 2021 online farm auction in Monroe Center, IL by The Steffes Group (www.steffesgroup.com) an older 1995 JD 8300 with only 875 hours sold for a new record high auction sale price of $117,000. Here’s a picture of it.
An older, smaller JD 8200 tractor also sold for new record high auction price earlier this year, on an April 10, 2021 auction in Lincoln, Neb…this 1998 model 8200 with only 1490 hours sold for $110,500. That was a new record high auction price by a whopping $18K. Here’s a pic of that 8200 sold for $110,500.
Back to JD 8310’s like the one Jared T. has with 1407 hours. Did you note in the table above listing the “Highest Auction Prices on JD 8310 Tractors” that the 2nd Highest price ever just came on a July 31, 2021 consignment auction in Paris, MO…a 2000 model 8310 with 2849 hours sold for $109,000.
So if that 8310 with 2849 hours sold for $109,000 on an end of July consignment auction and we just saw an older '95 model 8300 with 875 hours sold for $117,000 last month, makes me think valuation of Jared’s JD 8310 with 1407 hours would start at $120K - $125K range. And if it happened to sell at auction here now until the end of '21…could well zip HIGHER, perhaps even pushing toward that record high auction price on 8310 of $151,000 from 9 years ago, Dec. 2012.
As HOT as the used farm equipment has been Fall of '20 right through Summer '21…I think we’re going to see used values and auction sale prices on good condition used equipment go even higher here come November - December '21. Why? Because its getting harder to find these super nice low hour 10+ year old Tractors for sale; because the price of NEW Tractors is skyrocketing HIGHER; because can you even get that New model you want with all the issues with components and worldwide shipping issues?
And because we’re about to witness the return of the YEAR END TAX BUYER to the farm equipment market. 16 of the past 18 years I’ve watched used farm equipment shoot HIGHER during 4th Qtr. of the year. Shoots even HIGHER whenever there is $$ in the ag system. Buying iron (new or used) as a tool to help minimize your tax bill via IRS Sec. 179 is an extremely powerful market force. That I’m sure we are about to see unleashed again here shortly.