$56,000 for a 20-year-old truck?

GREG PETERSON

09/06/2012

GREG PETERSON

Greg Peterson writes “Machinery Pete” column for Successful Farming magazine and appears on the Machinery Show on RFD-TV, talking about trends in the used equipment market $56,000 for a 20-year old truck?

Do I even need to say I’ve been seeing auction sale prices rise here lately? Well, I have, specifically since corn and soybean prices shot up back in early August due to the difficult drought conditions this summer. So drought, but rising used equipment values?

Yep.

At least that is in geographic regions slightly less affected by the drought of 2012. Back to the $56,000 20-year truck I mentioned. I’m speaking of the 1992 Kodiak sold on an August 1, 2012 farm estate auction in southwest Iowa. It had a Cat 3116 engine, 20’ Omaha standard box & hoist, 60-inch sides, roll tarp, twin screw with pusher axle, was always shedded and had only 33,558 miles “1 owner” miles on it.

And it sold for $56,000.

That is the 3rd highest auction sale price I’ve ever seen on a Kodiak truck. Here’s the scoop on the only (2) Kodiaks I’ve seen sold higher at auction:

  • $60,500: 8/24/05 farm sale in north-central Iowa, 1994 model, Cat 3116, 7,401 miles
  • $67,000: 3/31/00 farm sale in north-central Ohio, 1993 model, Cat 3116, 4,406 miles

Note each of those two Kodiak trucks had hardly any miles on them at all.

Click on the link below to view the last (131) Kodiak trucks I’ve seen sold at auction over the past 15 years:

Pete’s Auction Prices on Chevy/GMC Kodiak Trucks

Oh, thought I might mention that the $56,000 Kodiak probably wasn’t the most eye catching auction sale price on the August 1st farm estate auction in southwest Iowa. I’d reserve that honor to the JD 400 30-foot hyd. fold rotary hoe in “like new” condition sold for $9,100. Haven’t I been yakking for six months or so now about escalating values on very good condition used tillage items?

How high is $9,100 for that JD 400 rotary hoe? Well, a quick check of our www.machinerypete.com website’s “auction results” database found (951) we’ve seen sold at auction going back 16 ½ years. $9,100 is the 2nd highest sale price I’ve ever run across.

By the way, also (2) new record high auction sale prices on John Deere tractors on this same August 1, 2012 farm auction in southwest Iowa:

  • 2002 JD 8320 MFWD with 1,052 hours: $149,000
  • 1997 JD 8200 2WD with 1,319 hours: $82,500

 

Courtesy: Our Machinery Pete

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