Machinery Pete: I’ve Never Seen This Trend Before

A series of record-setting sales has Machinery Pete pointing to a new pattern.

By Greg Peterson - (Machinery Pete)

Over my 36 years of tracking auction sale prices, every time I’ve seen auction pricing jump significantly higher, it has always equated to strengthening conditions for new farm equipment sales — not this time.

After falling like a rock throughout 2024, auction prices on good farm equipment began to steady back in late February 2025. That mode held until we hit November and December. Then whoosh! Auction sale pricing jumped noticeably higher, yet the appetite for new farm equipment sales continue to lag.

Which Leaves Us to Speculate Why

It could be just how high the price of new equipment has become. Those 15% to 25% price jumps back in 2021, 2022 and 2023 never receded. Meanwhile, the grain farmers have been tightening their belts and stretching the life of their current used equipment fleet. Since they weren’t buying new, their focus shifted to buying the exact used equipment they wanted. Good condition pre-DEF, pre-Tier IV items, in particular, roared higher.

Here are a few eye-opening examples:

• A 2007 Peterbilt 379 with only 20,817 actual “one owner” miles and always shedded sold for $280,000 on December 16, 2025, in Ashley, ND. It’s the record price on a Peterbilt 379 by a mile.
• A 2011 Case IH 6088 combine with 538 sep. hours sold for $178,000 on December 17, 2025, in Thompson, IA. That’s the highest auction price on a 6088 combine in nearly 11 years.
• A 2009 John Deere 8295R with 1,091 hours sold for $230,000 in the same December 17th auction, marking the highest auction price on a 8295R in 33 months.
• A 2000 John Deere 8210 with 3,692 hours sold for $133,250 on a December 3, 2025, auction in Falls City, NE. It’s the record-high auction price on a 8210.

But it also needs to be said that it wasn’t only the older pre-DEF, pre-Tier IV stuff moving toward higher hard cash auction pricing. Later-model items sold at auction rose as well.

For example, a 2025 Case IH AF11 combine with 217 sep. hours and a pickup header, sold for $1,157,000 CAD on Cut Knife, SK auction on December 16, 2025. This equates to $841,139 USD. That’s the highest auction price ever on a combine.

In that same auction, a 2024 Brent 2598 grain cart on tracks sold for $184,658 USD. It’s the record-high auction price on a grain cart, blowing past the previous record high of $170,000.

The K-shaped economy is a reality in ag country as we sail into 2026. There are still strong balance sheets out there for older farmers who have money to spend on what they want/need — as all the aforementioned recent auction sale price examples testify.

I’ll leave you with one last Machinery Pete thought to chew on hard. This extended dearth of new equipment sales the past 18 to 24 months is beginning to create a shortage of good, used equipment. You thought used prices were high now. Just wait.

Editor’s Take:

Some very interesting observations by Machinery Pete (Greg Perterson). It’s not that farmers/ranchers aren’t purchasing equipment, they’re just not purchasing as much new equipment. However, prices for used equipment seem to be skyrocketing to unheard of levels. Thus, it is likely that soon they will shift back to purchasing new. Farmers/ranchers tend to watch their pennies (nickels now) very closely. We will be watching and reporting on these trends throughout 2026.

Also, because of some of the new tax laws, they will be assessing how to best take advantage of the rapid depreciation programs in that legislation. Be prepared to emphasize the tax advantages of purchasing or leasing a new truck from your dealership. You might want to point them in the direction of a new AGwagon! In either case, they can still take full advantage of AgPack® with nearly $50,000 in potential savings through exclusive rebates and discounts.