Yep, price of new farm equipment just continues to RISE.
And it continues to pull UP on the value of good used farm equipment.
Case in point, 10 year old Combines. Last year the highest auction sale price I saw on any 10 year old 2010 model Combine sold without heads was $181,000. It happened twice:
2010 CaseIH 7120 with 1460 engine hours, sold: $181,000 on 6/23/20 Pontiac, IL sale
2010 JD 9770 STS with 820 engine hours, sold: $181,000 on 8/15/20 Okawville, IL sale
Ok, now check out the chart below, a fascinating look past over the past 20 years, back to the year 2000, at the highest auction sale price each year on a 10 year old Combine. I’m sure folks at the McIntosh, MN farm auction on August 15, 2000 watching that 10 year old 1990 model JD 9600 combine sell for $50,500 probably thought that was nuts. Over $50K for a 10 year old combine? Can’t go much higher than that down the road…can they?
Yep. They can. They did. Here’s the proof.
Link to (238) 10 year old 2011 model Combines for sale today: https://tinyurl.com/MachineryPete-10YrOldCombines