Equipment Spotlight: Used Equipment - Farm Storage

By L. Sorensen On-farm storage is a growing trend and many farmers have replaced older, smaller bins with new and higher capacity ones over the past year. The volume of grain bin sales reported over the past year isn’t large, but it will give buyers some idea of what used bins are selling for. Generally, bins sell for approximately .50/bu and reported sales prices reflect that standard. However, some North Dakota sales in 2008 pretty well reflected that average. One 7700 bushel bin sold in North Dakota in December 2008 for $3,000. That’s nearly.39/bu and the condition of the bin is unknown. That could have had a major effect on the sales price. Several 10,000 bushel Butler grain bins were reported sold in North Dakota in December 2008. Two different bins brought $3,750, which is .33/bu for the bin. Two other bins were reported sold that same month for $4,300, which comes to .43/bu. One bin reported sold in North Dakota in December 2008 brought $5,100, which averages out to .51/bu. Some smaller Butler bins were also reported sold in North Dakota in November 2008. Four 18’DX16’H bins were sold at auction in November 2008. Two were sold for $925 and $950 each; two others brought $1,000 each. Bins this size hold approximately 3,270/bu of grain and the per-bushel price at $925 comes to .28. At $950, the price-per-bushel is .29 and the $1,000 cost brings the price of the bin to .327/bushel. The few hopper sales reported came from North Dakota. Prices reported from a November 2008 auction sale were $3,000, $4,750 and $6,000. One other hopper bin sold in November for $1,200 in North Dakota. One 7,500/bu Sioux grain bin was reported sold in North Dakota in October 2008 for $1,750. That’s just .23/bu and may have been quite a bargain, depending on its condition and moving costs. Few grain bin sales have been reported in 2009. Those that have been reported are primarily for older bins. Sales reports came from North Dakota and South Dakota in March and May 2009. North Dakota’s reported sales in Marcy were for older Sioux bins. The capacity wasn’t reported but the ales prices for three different bins were $300 and $350. Apparently the bins were small and probably old. Two 4,000 bushel bins were reported sold in South Dakota in May 2009. The brand is unknown. One went for $4,750 and the other sold for $6,700. The prices were much higher than those reported earlier in 2009 and in Fall 2008. The $4,750 bin averages to $1.187/bu. The $6,700 bin was sold at an average of $1.675. Two other 4,000/bu grain bins were reported sold in Georgia in December 2008 for $500 each. It’s possible the potential for a bumper crop is causing farmers to hold onto older bins even if they’re setting up new and larger grain bins. It’s also possible that the cost and time involved in moving and resetting an older bin isn’t as worthwhile as purchasing a new one. Traditionally, grain bin sales are at a peak in the winter. Our reported sales were meager this past winter. It’s possible that farmers were utilizing methods other than auctions to move their bins. The highest number of sales reported came from North Dakota. South Dakota reported the next highest number. However, North Dakota sales reports totaled 22 and South Dakota’s reported sales only numbered three. The majority of the sales were reported in November and December with just a handful coming in March. Two of the South Dakota sales occurred in May.