Machinery Pete Uncovers Unique Pattern With Late-Model Planters
August 30, 2024
The Phil Rensink farm estate auction in Hospers, Iowa, during early August left me with three main takeaways for the direction of used farm machinery.- Used hay equipment in good condition is selling strong. On Aug. 1, a 2022 Rollbelt 560 Special Crop Plus round baler that had made 1,810 bales sold in Solen, N.D., for $53,975. It marked a record-high price for a New Holland round baler sold at auction. Turns out, its status would only last a day. During the Rensink sale, a 2021 New Holland Rollbelt 560 Specialty Crop Plus round baler that had only made 102 bales sold for $56,000.
- Tractors that are 10 years old and older but still in good condition are holding their value better. The Rensink sale saw a 2012 Challenger MT865C track tractor with 1,678 hours and 36" tracks sell for $315,000 — a new record auction price on that model by almost $15,000.
- Late-model used planters are selling OK. A 2022 Case IH 2150 Early Riser 24R-30 planter with one owner and 814 acres under its belt broke a record set for that model in March by $25,000 — selling for $270,000 at the Rensink sale.
Why It’s Significant
I find that last trend to be quite interesting. Late-model used planters have definitely been selling a bit stronger at auction so far this year versus late-model tractors and combines, which have experienced a more pronounced slip in price. Perhaps it’s an odd bit of carryover effect from 2021 and 2022 when new planters were extremely difficult to get during the pandemic supply chain mess.
Auction prices on late-model used planters have been holding strong despite a huge spike in the number of new to 3-year-old planters hitting the auction block in 2024. From the start of this year through Aug. 4, I’ve seen 66 new to 3-year-old planters sell at auction. There were 20 a year ago, 10 in 2022, 14 in 2021 and a mere six in 2019. We have to go back nine years to find any year even remotely close in number: 39 in 2015.
| Year | Make | Model | No. Rows | Price | Location |
| 2023 | John Deere | DB60 | 47R-15 | $375,000 | Paris, MO |
| 2023 | John Deere | DB60 | 36R-20 | $365,000 | Paris, MO |
| 2023 | John Deere | 1775NT | 24R-30 | $340,000 | Pacific Junction, IA |
| 2023 | John Deere | DB80 | 32R-30 | $325,000 | Paris, MO |
| 2023 | John Deere | 1775NT | 24R-30 | $320,000 | Paris, MO |
| 2022 | Case IH | 2160 | 47R1-15 | $319,000 | Monroeville, OH |
Late-model used planter values might be holding value better than their tractor and combine counterparts, but they’ve softened overall.
On July 27, we filmed a huge consignment auction in Paris, Mo. Inside six auction rings, the old fashioned, in-person sale sold 4,000 equipment items between 8:30 a.m. and 9 p.m. It was the largest lineup of large late-model used farm equipment I’ve ever seen in my nearly 35 years tracking auctions.
There were plenty of planters, but a particular pair of them caught my eye:
- 2023 John Deere DB80 32R-30 Exact Emerge with 6,405 acres sold for $325,000
- 2023 John Deere 1775NT 24R-30 Electric Drive with 5,212 acres sold for $275,000
These prices compare to $375,000 for a 2023 John Deere DB60 47R-15 Electric Drive with 4,599 acres and $365,000 for a 2023 John Deere DB60 ME5 package 36R-20 with 3,911 acres. Both of the planters sold in March in Paris, Mo., and hold the top auction price for the particular models so far this year.
For the rest of 2024, I bet we will see farm equipment dealers taking late-model planters (along with tractors and combines) to auction to stay ahead of the softening used market.
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