Used Values Skyrocket in Canada

What area is producing the highest auction sale prices on used equipment so far in 2011? That distinction belongs to our friends to the north.

Canada

I’ve been seeing extremely strong sale prices paid for all types of used equipment in good to excellent condition on sales throughout Saskatchewan, Manitoba, Ontario and Alberta since mid Winter 2011. The strong sale prices have been on all types of equipment, including combines. I posted the Youtube video shown above earlier this week. It features a nice 1999 JD 9610 combine with 2,612 engine hours sold with a JD 914 pickup header on an April 27, 2011 farm auction near Brunkild, MB (south-central Manitoba).

$89,000.

In the video I walk through the auction sale price data in our www.Machinerypete.com web site to show how $89,000 is one of the highest auction sale prices I’ve seen on a JD 9610 in some time. I also point out how over the past three years the very highest auction sale prices on 9610′s have ALL come from Canada, including a 1999 JD 9610 with 1,176 engine hours sold on an April 14, 2011 farm auction in east-central Saskatchewan. It sold with a JD 914 header for a total of $125,000.

Wow

The combine wasn’t the only very strong sale price on green paint that day. Check out these other sale prices from that 4/14/11 farm auction in east-central Saskatchewan:

• 1998 JD 9400 4WD tractor with 2,089 hours: $142,500
• 1994 JD 8870 4WD tractor with 1,933 hours: $90,000
• JD 610 chisel plow, 41′, tandems across, NH3 kit & tank hitch: $26,000
• JD 1650 chisel plow, 51′, 3-bar, tandems across: $36,000

Now consider that those sale prices are in Canadian $$’s. The conversion rate was pretty close to equal in April, right about 1.04 on April 14th, so $1 Canadian spent = $1.04 U.S. funds. So that 1999 JD 9610 combine with 1,176 hours & the JD 914 pickup header sold for $125,000 Canadian…that equals $130,000 U.S. dollars.

$130,000 for a 12-year old combine. Told you the used equipment market was “hot” up north.

About Machinery Pete: Greg “Machinery Pete” Peterson has been working in the agricultural industry for 21 years and details agricultural equipment prices and trends at his website, Machinerypete.com. Greg also writes columns for Successful Farming magazine, Implement & Tractor magazine, Agriculture.com web site and also appears on the Machinery Show on RFD-TV.

Source: "John Deere MachineFinder" via Glen in Google Reader