We all feel and know the current used farm equipment market is white hot. Hottest I’ve ever seen. By a Mile. Auction prices through the roof on all types of good condition used equipment.
But how to quantify HOW HOT?
Well, one very eye opening way to get proper perspective on how HOT the current used market is…hop in my Machinery Pete Time Machine and travel with back exactly 5 years ago to August 2017 and compare auction sale prices then to now - August 2022.
Yikes. Night and Day Different.
AUGUST 2017
- Only (9) $200K+ auction sale prices in U.S.
- Only (3) Tractors sold $200K+ at auction in U.S.
- Highest auction sale price in U.S: $253,000
AUGUST 2022
- (56) $200K+ auction prices in U.S.
- (23) Tractors sold $200K+ at auction in U.S.
- Highest auction sale price in U.S: $480,000 (pic below - '21 JD S790, 358 eng. hrs, Ohio 8/9/22)
Then and Now. Night and Day Different. Stagnant (Aug. 2017) vs. White Hot (Aug. 2022).
View auction prices in U.S. from August 2017: tinyurl.com/MachineryPete-August2017
View auction prices in U.S. from August 2022: tinyurl.com/MachineryPete-August2022
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Machinery Pete