It’s definitely a buyers’ market if you are looking for late model equipment, specifically tractors and combines. With corn prices down, farmers who have upgraded their tractors and combines in the last 3 years can hold on to them for another year, creating a lack of demand.
Dealers are also starting to saturate the market by wholesaling some of the equipment that in the past they would have held onto and tried to market retail. Machinery “jockeys” are becoming a necessity again. Dealers are calling the jockeys directly to buy/sell equipment vs the jockey trying to buy something at a discount from an individual and making a profit selling it in a higher demand area.
Most late model tractors and combines are selling anywhere
from 30-75k under last years market value.
With a big harvest coming up there will be a growing need for harvest equipment – corn and grain heads, grain carts, semi grain trailers, augers that are in good condition. These types of equipment, unlike combines/tractors can tend to show more wear and tear, so farmers have less of a choice when it comes to upgrading. For sellers with high quality harvest equipment now is a good time to move those items.
Mid-range equipment should continue to hold its value due to the lack of quality machines available. Equipment 3-10 years old, in good condition will demand fair value. Farmers have been able to depreciate the equipment, but it still holds its value.
For estimates on a few specific brands and year models see the notes below. Estimates provided are based on equipment in good to fair condition.
2010 John Deere 9770 Combines $95-125k
2010 CIH 7120 Combines $125-150k
2000-2003 JD 9650 Combines $45-60k
Kinze 850 Grain Cart – $25-32k
Brent 1194 Grain Cart – $45-50k
2010 Wilson 43’ Air-Ride – $28-32k
2011 Jetco 42’ Steel $25-30k
For other inquiries or questions please call us toll free at 888.923.0511.