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Machinery Pete

Back in late '07 or early '08 I corresponded with Pete on the rising values of used machinery and how I'd like to do some updating but thought prices would taper off as the hiigh machinery costs at that time were a short term thing.  Did anyone else miss that boat?

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Re: Machinery Pete

I recall our conversation......you didn't want to "buy at the peak", when used equipment values were at their highest. I know many folks felt same way at that time, just didn't seem plausible that used equipment values could remain at such elevated levels. I thought we may see "softening" used values in early 2009.......but, nope. Well, here we are 2-3 years later and check out my latest blog post on our web site (how used values are poised to ramp UP another notch here late in 2010):  http://www.machinerypete.com/PPOV.asp?article_id=24

 

New equipment prices have only risen last 2-3 years. And new reality I'm seeing is that finding really good condition used equipment is only getting tougher & tougher. So when it does show up on a nice retirement auction, or local tradein on dealer lot........whew....lot of strong buyer demand! What's it going to be like 5, 10, 20 year from now?? Looking to me like used values poised to remain strong (maybe even getting stronger) for years to come.

 

Pete

www.machinerypete.com

 

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Re: Machinery Pete

I agree 100%.  You can't touch a good combine for less than 40K w/o heads.  High hour tractors, 6-8K hrs. selling strong compared to lower hour ones.  20 years ago when no-till came about tillage equipment was a "dime a dozen".  Now it too commands top dollar.  With interest rates as low as they are and grain prices what they are is this the new "golden age of farming"?

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