In my 32+ years tracking the used farm equipment market daily, this is the wildest time I’ve ever seen in the used Planter category.
Never seen anything like this.
Let’s start with look at Supply & Demand on used Planters over the past 2 years, right up to today.
This data from our www.MachineryPete.com web site. That Blue line tanking lower…the No. of used Planters for sale on the market. The Orange line shooting HIGHER…search traffic demand on used Planters.
I’ve seen swings, dips and jumps on Supply & Demand like this before in other equipment categories, like < 40 HP Tractors at the outset of the pandemic. But never seen anything in the used Planter category like the pair of huge supply dips since Fall '20. Going back to 2009, 2010 on through the good times of 2012 into early 2013 there were always WAY TOO many large late model used Planters on dealer lots for sale. Then when commodity prices fell Spring '13 the used Planter market dragged further down through '14, '15, '16.
That was Then. This is Now. The Blue & Orange lines don’t lie.
Neither do the skyrocketing auction sale prices I’ve been seeing on good used Planters of all shapes, sizes and colors. Even once the calendar flipped to '22 and the market lost the huge Year End Tax Buyer push…auction prices paid on good used Planters continued to RISE.
3 of the 4 highest ever auction sale prices on Planters…all come in the past 7 weeks. All 4 highest auction prices on Planters have come the past 10 mo.
HIGHEST AUCTION PRICES EVER ON PLANTERS
2021 JD 1775NT 24R-30, 2521 acres, sold: $346,000 on 12/9/21 online farm auction, Charleston, IL
2020 JD 1775NT 24R-30, 11,013 acres, sold: $260,000 on 1/29/22 consign. auction, Paris, MO
2021 Kinze 3665 16/31, <1000 acres, sold: $252,000 on 12/10/21 online farm auction, Roca, NE
It hasn’t just been the super late model very large used Planters setting record prices. Nope, good condition smaller used Planters too…like the Kinze 3500 Double Frame 6/11, pictured below, sold for $54,000 Saturday, January 29, 2022, on a farm auction in St. Paris, OH. $54,000 is new record high auction price on Kinze 3500 - former high sale price was $40,500 nearly 5 1/2 years ago on an 8/27/16 farm auction in Leesburg, OH. That Kinze 3500 6/11 planter was a 2014 model, so only 3 years old at the time.
Of course a HUGE part of the issue with RISING values on used Planters late in '21 on into early '22 here is the major snafus with supply chains worldwide. Farm equipment manufacturers basically pre sold all the New Planters they anticipated they would be able to make. Imagine how many more New Planters they would have been able to sell if there were able to make more…Tons. But they can’t. Because of supply chain gum ups.
So farmers, needing to get done in the field what has to get done this Spring, with NO downtime equipment delays, are beginning to assess the current situation and difficult realities…
- Can’t get New Planter
- Supply chain issues likely to linger
- Dealer used lots tighter than ever - will remain tight for foreseeable future
So…when a nice used Planter shows up for sale at auction right now…$$$$$$.
Link to Planters for sale today: Used Planters for Sale - 2449 Listings | Machinery Pete
View Auction Prices on 1700+ Planters sold past year here: www.MachineryPete.com/auction_results
Pete
Machinery Pete