Equipment Notebook: Drills
It's too early to say for sure but weaker grain prices could have a real impact on used equipment prices in 2009. Looking back at drill sales in January and February of 2008, nearly twice as many drills were reported sold last year this time. The highest priced drill, a John Deere 1560 went for $25,600 in Ohio at a February 2008 auction. The year wasn't available so it's difficult to know if that was an average price. A Great Plains Mfg. 1998 3000 30' drill sold in Texas for $18,000 in February 2008 and a John Deere 750 went for $18,000 in Illinois in January. Even though this isn't comparing apples to apples, the highest priced drill sold in January 2009 was a Great Plains Mfg. model that went for $35,000 January 21, 2009 in Missouri. Another Great Plains, a 2005 27' 2700, sold for $22,000 at a February 17, 2009 sale in Texas. In 2008, 120 drills were reported sold between Jan 1 and Feb 1. So far, in 2009, Reported January and February sales total 65. The state reporting the most drill sales in 2008 was Illinois where 43 drills were reported sold. The cheapest reported Illinois sale was a Vanbrunt model that sold for $400. I don't have details about the piece but imagine it was purchased as an antique. Other 2008 sales in Illinois included a John Deere 750 that sold for $18,000. Several other JD 750 model sale prices ranged from $11,400 to $15,000. It's interesting to note that all of those 2008 Illinois drill sales took place in January. Brand names included John Deere, International Harvester, Great Plains Mfg., Case IH, and IH. Case IH brands sold from a range of $5,300 to $6,100. The highest priced Case IH was a 5400 model that went for $9,000. The next highest Case IH was a 1996 5400 15' model. Great Plains Mfg. models included an SS30 that went for $7,500 and an SS at $16,000. International Harvester models ranged from $1,700 for a 5100 to $7,200 for a 5400 model. Of the 43 models auctioned off, 21 were John Deere brand that ranged in price from $1,050 for an 8200 to $18,000 for the highest priced 750. Of the 65 drills reported sold in January and February 2009, 25 were sold in Texas. The highest priced drill reported sold there was the Great Plains 27' 2700 model. The lowest priced model was a Tye brand. That brand comes from AGCO and the line is specialty drills such as grass drills. The highest priced grain drill sold in Texas was the Great Plains 27' 2700 that went for $22,000. This Kansas company produces a wide range of drills and is known for its heavy-duty models. Among the 25 drills reported sold in Texas so far this year, 17 were John Deere. The cheapest John Deere was a 1981 8200 16' that went for $350 in February. Without knowing the condition of the drill that may have been a pretty good bargain. A 1960 JD 16' DR sold for $410 and a 10' DR went for $675. Of the JD drills reported sold in Texas, they were 1990 or older models. Other models reported sold in Texas this year were Great Plains Mfg., Case and Tye. Of the two GP models sold, a 1993 30' went for $10,000 and the 2005 2700 27' sold for $22,000. The Tye models ranged from $300 to $700. In comparing the January and February 2008 with the same two months in 2009, it's interesting to note that the highest priced drill sold in 2008 was the JD 1560 at $25,600. This year, the GP sold for $35,000. As this is being written, there's one week left in February, but only 65 drills have been reported sold in comparison to 120 last year. The year the drill was manufactured isn't always supplied in sales reports, but it appears that drills sold this year are generally 1980 or newer, which is true of 2008 as well. The oldest drill reported sold in 2008 was a 1975 Tye model. One 1960 JD DR was reported sold this year. There's no doubt a lot of eyes are on grain prices and used equipment prices. Whichever direction it all takes, it will be an interesting season.