I’ve been saying it for decades now…
When folks buy good used farm equipment at auction, to a large extent they are buying the previous owner and their known history of care for their equipment. Think of farm retirement or estate auctions in your corner of the world…when those most highly respected farmers sell…how are prices on their auctions? On the HIGH side, right? Yep. That’s exactly what our Machinery Pete auction sale price data has been showing for 32+ years now.
Another case in point today, September 21, 2022 on our friends at www.bigiron.com weekly online auction. 4 Red Tractors rang the bell with very strong sale prices, all from the same owner/seller in Orchard, Neb. Here’s the scoop:
1998 CaseIH 8950 with 5195 hours, sold: $120,250
Pete’s Note: “$120,250 is new record high auction sale price on 8950, blowing away the previous high price from 8 1/2 years ago by over $30K! And Yes, that is with the crack in the hood you can see in the picture”
HIGHEST AUCTION PRICES ON CASEIH 8950 TRACTORS
I turned to Bigiron Nebraska Rep Jake Morten for some insight in this CaseIH 8950.
“It was an awesome sale,” said Morten. “The folks that owned it have taken especially good care of their equipment. It was parked in storage for about the last 8-10 years. He had several neighbors that knew about the tractor and tried to buy it many times.”
The same Orchard, Neb. sellers of the CaseIH 8950 had 3 other red tractors that sold very strong on today’s Bigiron.com online auction:
1977 IHC 1586 with 4360 hours, sold: $25,250
Pete’s Note: “$25,250 is new record high auction sale price on 1586…$4,750 higher than former record price just set on April '22 Bigiron.com online auction”
HIGHEST AUCTION PRICES ON IHC 1586 TRACTORS
1977 IHC 1486 with 5294 hours, sold: $22,500
Pete’s Note: “$22,500 is 8th highest auction sale price I’ve seen on 1486. Record price: $31,500 on 12/2/17 Perryville, MO farm auction”
1994 CaseIH 9230 4WD with 3561 hours, sold: $65,250
Pete’s Note: “$65,250 is 4th highest auction sale price I’ve seen on CaseIH 9230 tractor…2nd highest auction price in 9 years”
HIGHEST AUCTION PRICES ON CASEIH 9230 TRACTORS
Back to the record price CaseIH 8950 on today’s Bigiron.com auction at $120,250…it eclipsed the former record high auction price of $90,000 set back on March 1, 2014 farm auction in Marble, PA on a 1999 model 8950 with 3325 hours. The competitive bidding on that Marble, PA auction for that 8950 was…INCREDIBLE and in all my 32+ years tracking/covering farm & construction equipment auctions it was the BEST EXAMPLE I’ve ever seen of use of the JUMP BID…I’m talking of course about those situations when you are locked in a bidding war for a piece of equipment and you employ a rarely used but HIGHLY EFFECTIVE strategy of the JUMP BID…you deciding enough is enough, you raise the bid increment - possibly significantly - and you definitively signal to those other bidders in the chase that THIS THING IS GOING HOME WITH ME…END OF STORY. Here’s the Machinery Pete Youtube video of that CaseIH 8950 selling for then record price of $90,000 on the March 1, 2014 Marble, PA farm auction…enjoy:
Link to (6) CaseIH 8950’s for sale today: www.machinerypete.com/tractors/175-hp/case-ih/8950
Pete
Machinery Pete