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MACHINERY PETE REPORTS USED FARM EQUIPMENT PRICES CONTINUE TO CLIMB
Nov. 23, 2022
by AgDay TV
Are used equipment prices showing any signs of cooling off? Greg Peterson, founder of Machinery Pete, says: No way.
"I've been watching this market go higher and higher by the month - for the last 18 months," Peterson says. "Now we're coming into the hottest time of year for machinery."
Peterson points to these two recent mind-boggling auction results:
*A 1993 Case IH 7130 sold for $75,750 at an online auction in Emerson, Neb., on Nov. 16. That's a record high (clipping a record from almost 10 years ago).
*A 2010 John Deere 7930 sold for $170,000 at an auction in Waverly, Iowa, on Nov. 16. That's a record-high auction price.
*A 2017 John Deere 9570RX sold for $531,000 at an online farm auction in Emery, S.D. on Nov. 17. That's the second-highest auction price Peterson has ever seen on a modern farm tractor.
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