Machinery Pete Looks Back 10 Years Ago
Pete’s Time Machine.
A little game I like to play when blogging online, writing columns for Farm Journal magazine or yakking on our Machinery Pete’s “Auction of the Week” show on RFD-TV. I’ve been compiling auction sale price data so long now, 24 ½ years to be exact, I find more good ground behind me, lots to talk about and compare to today’s sale prices.
It’s fun to look back sometimes.
And insightful I think. Let’s take the example of CaseIH MX240 tractors. I just saw a very nice one sell on a recent farm retirement auction in my hometown of Benson, MN on April 1, 2014. It was a 2002 model with 2,849 hours (pictured below). It sold for $74,500.
Now let’s zoom back 10 years to the year 2004. A different time in the ag economic cycle. MX240’s were just a couple years old at the time. Check out what (3) nice MX240’s sold for 10 years ago, back in 2004:
Auction Prices on CaseIH MX240 Tractors in 2004
|CaseIH||MX240||1999||1,486||Exc.||$62,000||3/1/04||SWKS||MFWD, factory weights & duals, 3pt., quick hitch, Like New|
|CaseIH||MX240||2000||600||Exc.||$75,000||2/7/04||NWIL||MFWD, 4 hyd., PTO, quick hitch|
|CaseIH||MX240||2001||800||Good||$78,500||11/24/04||ECND||MFWD, 1000 PTO, 4 hyd., 46” duals|
- Area sold: SWKS = southwest Kansas, etc. Data by www.Machinerypete.com
So those MX240’s were only 3-4 years old a decade ago, with 600-800 hours and sold at auction in the mid to high $70K range. Just like the now 12-year old MX240 with 2,849 hours did on the April 1, 2014 auction this year.
That’s called holding your value folks.
-Machinery Pete AKA Greg Peterson, Guest Blogger for Titan Outlet Store