The collector buyers went home empty handed Tuesday...and sad.
On a small farm auction this Tuesday (June 13, 2017) near Fairmont, MN, a 1980 IHC Hydro 186 diesel tractor with only 1,563 actual hours on it sold, with an IHC 2350 loader and 8' bucket, for $37,000. A new record high auction sale price by a mile, even when the loader selling with it is factored in. Here's a picture of it:
The reason the collector buyers went home sad...because the buyer plans to bring it home and hook to his feeder wagon and actively work it. This reaction is common when I see very low hour tractors that are 20-30 years old sold at auction. Collectors view them as historical, uber hard to find low hour gems, like time machines back to an earlier period in ag history.
But very common for tractors like this to be bought to actively use by folks who appreciate them for their simplicity and reliability...plus what's a new model of that horsepower cost? So it can seem like a relative bargain, even though it just sold for a new record high auction price. This same phenomenon happened with the 1989 John Deere 4055 2WD tractor with only 215 actual hours on it sold for whopping $93,000 (record price by nearly $30K!) on a 12/19/16 farm auction in St. Edward, Neb. Here's video of that 4055 selling:
The interesting thing about the $37,000 record auction price on the 1980 IHC Hydro 186 sold Tuesday in southern Minnesota is that prior to 2014 the record high auction price on Hydro 186's was $16,700, all the way back on a 1/8/99 farm auction in northwest Illinois for a 1978 model Hydro 186 with just 990 hours. Imagine what that tractor would sell for today! Since 2014 that $16,700 has been blown away. Here's a look at the 5 highest auction prices on Hydro 186's:
5 Highest Auction Prices on IHC Hydro 186 Tractors
* Data by http://www.machinerypete.com
Here are some pics of the other high selling IHC Hydro 186's over past few years:
1981 model, 2,542 hours, sold $24,000, 1/6/14 farm sale in New Jersey
1978 model, 2,347 hours, sold $20,500, 11/14/14 farm sale, Minnesota
1978 model, 3,325 hours, sold $20,000, 11/15/14 farm sale, North Dakota