Good-quality used farm equipment continues to bring in solid dollars across Ontario

Posted on Apr 10th, 2017 by Jennifer Hannan

LINDSAY - Used equipment prices are continuing to soar across Ontario.

Auctioneer Ab Carroll hosted a consignment auction in Lindsay on March 25 and prices, in some cases, were double what Carroll expected.

He sold a 1987 Deutz-Allis 6265 four-wheel drive tractor with a cabin and a Q740 Quicke loader and 5,700 hours on it for $21,000 to a local farmer. “I would’ve expected between $10,000 and $12,000,” Carroll told Farmers Forum.

The high cost of new equipment is creating big demand for good-quality, used farm equipment, even if it’s 30 years old, he said. “It pays to take care of your equipment,” he said. That’s especially true for smaller machinery, he added. Anything with more than 200 horsepower is a tough sell when it’s used, but between 50 and 120 horsepower is a strong market well across the province, he said. “Everyone that I talk to seems to have a market for that kind of stuff.”

That’s continuing the trend from last year. Last year Carroll said that he sold a Case IH 585 two-wheel drive tractor with a loader and 2,500 hours on it for $13,000. He wasn’t expecting it to go higher than $10,000.

Thanks to the low Canadian dollar, dealers buy in Ontario and sell in the States but pretty well all the dealers at Carroll’s auction went home empty-handed, he said.

The auction attracted 307 registered bidders and there weren’t many tire kickers, he said. “Everyone was there to buy.”

Calls came in from potential buyers as far north as Thunder Bay, as far east as Cobden, and as far west right into Waterloo County.

It’s the same story in Western Ontario. Dave Jacob at Jacobs Auction Ltd. in Mitchell told Farmers Forum that prices are quite solid for good-quality, used farm equipment this spring and there’s plenty of interest.

The spring consignment sale they hosted on April 1 drew more than 900 registered bidders and another 400 spectators.

At the sale, Jacob sold a John Deere 4050 from the early 80s with 5,100 hours on it for $39,900. “I don’t even know what to expect anymore. It’s probably older than I am,” he said.

But bigger equipment, particularly larger tillage equipment, wasn’t selling so well.

Jacob added that clean used farm equipment moving well is nothing new. “It’s been like that for years. “As long as it’s good, clean, and straight, it’s selling good.”

For More Information: http://farmersforum.com/good-quality-used-farm-equipment-continues-to-bring-in-solid-dollars-across-ontario/

Lynch, Connor. "Good-quality Used Farm Equipment Continues to Bring in Solid Dollars across Ontario." FarmersForum.com. Farmers Forum Newspaper, 10 Apr. 2017. Web. 10 Apr. 2017.