I’m planning to have an auction of late model Caseih equipment before next Spring. Would February be worse than before the new year?
Great question Alan. I’ll start with something I’ve been saying for many years now. Strictly from a data standpoint, the best time of year to have an auction has been Nov.-Dec. The YEAR END TAX BUYING force has been real and whopping force. So much so that 18 of the past 19 years used equipment values have gone UP Nov.-Dec.
Ok, that said, the past 3 years, since Fall '20, there hasn’t been a “bad” time to sell. This has been the Hottest used market/auction market I’ve ever seen.
But there have been developing headwinds with increasing supply of used equipment finally after unprecedented low levels of used on dealer lots in '21-'22 into early '23. Now more used on the lot.
But also increasing forces around the increased/rising price of New equipment and how that works to pull UP on the value of the nicest condition used equipment available, whether at auction, on the lot, or for sale privately.
Main thing to focus on whenever you decide to have your sale…GET MAXIMUM EXPOSURE leading up to sale day. Have to engage potential buyers all throughout US and Canada. The game has changed. Your buyers, on all items on your sale, could come from anywhere. But they have to know about your sale in advance. Obviously this is where our Machinery Pete biz works hard to help auction firms get the word out to target buyer audience and help farmer sellers get the word out.
Keep me posted you when you decide to have your sale. Here to help