Machinery Pete - Equipment Auction News

$280,000? 18-Year-Old Semi Sells for Record Price, Signaling Pre-DEF Equipment Demand Is Surging

Thu, 18 Dec 2025 17:56:03 GMT

An 18-year-old semi just set a record at auction, offering one of the clearest signals yet of where demand is flowing in today’s machinery market — and where it isn’t.

A 2007 Peterbilt 379, built before diesel exhaust fluid (DEF) systems were required, sold for $280,000 during a late-year consignment auction in North Dakota. The truck was a rare example: one owner, always shedded, and showing just 20,817 miles. Still, the price stunned even seasoned auction watchers.

Greg Peterson — better known as Machinery Pete — says the sale eclipses every previous result he has tracked for the iconic model.

“I’ve seen about 2,800 Pete 379s over the last 25 years,” Peterson says. “The previous high was $262,000, and that was back in July 2022 when the whole market was absolutely on fire. To come along now and just smoke that number, with an 18-year-old truck, that tells you something.”

That “something,” Peterson says, is demand not just for trucks, but for pre-emissions equipment across agriculture and transportation. Auctions, he notes, are brutally honest. They don’t care about model-year labels or marketing cycles. They simply reflect what buyers want — and what they are willing to pay for.

“That Peterbilt is an 18-year-old truck,” Peterson says. “And it brings $280,000. Auctions don’t lie. They tell you exactly what people want — and right now, that’s used, pre-DEF equipment.”

‘07 Peterbilt 379 w/ only 20,817 miles, 1 owner, always shedded, sold $280,000 today on @UlmerAuction sale. I’ve compiled 2800+ auction sale prices on 379’s past 25 Yrs. $280,000 is new record high auction price. Was $262K on 7/28/22 Villa Grove, IL salehttps://t.co/S6yC5PLDvR pic.twitter.com/TxdTN67GIH
— Greg Peterson (@MachineryPete) December 17, 2025

Used Equipment Values Gain Momentum

The Peterbilt sale is not an isolated case. Peterson says used equipment values, broadly speaking, have been strengthening for much of the year — a trend that runs counter to what the machinery market has historically done during periods of soft farm income.

“Used values started to solidify in the third week of February,” Peterson says. “They held, held, held. Then we got into November and December and it was like, ‘Katie, bar the door.’ I’ve never seen this in my 36 years.”

What makes the current cycle unusual, he says, is not just that used values are strong — it’s that they’re strengthening at a time when new equipment sales are clearly contracting.

“In the past, when I’ve seen auction prices take off like this, it’s always been equivalent to optimal conditions for new equipment sales,” Peterson says. “That ain’t the case this time.”

Recent auction data reinforces the point. A 2011 Case IH 6088 combine, pre-DEF and with low hours, sold for $178,000, the highest auction price for that model in nearly 11 years. A 2009 John Deere 8295R tractor with just over 1,000 hours brought $230,000, the strongest result in more than 30 months.

“I’ve never seen used values going up while new sales are going down,” Peterson says. “Never.”

Price of New Forces a Rethink

Peterson says the underlying force behind this shift is impossible to ignore: the cost of new equipment.

“I don’t know how tall the ceiling is, but that’s the price of new,” he says. “We understand why prices went up — labor, materials, everything through the pandemic — but at some point you have to ask, ‘Just because you can raise the price, should you?’”

As the grain downturn stretches on, Peterson says farmers have had time to pause and reassess their operations — and their machinery lineups.

“What it’s done is it’s given farmers time to catch their breath,” he says. “They’re saying, ‘We’ve got a lot of iron on this farm. We’ve got more equipment than my dad had and more than my grandpa had. Do we really need all this going forward?’”

That mindset shift doesn’t necessarily mean farmers will stop buying equipment forever. But Peterson says it has changed buying behavior — especially in the short term — and it’s pushed many operators toward well-kept used machines rather than six- or seven-figure new purchases.

“When the money’s not flowing, people think differently,” he says. “That’s just the reality.”

Dealers, Manufacturers Pull Back on New

At the same time farmers are stepping back, Peterson says the supply side of the market has also changed in ways that amplify used-equipment demand.

Manufacturers have dramatically reduced production, closing plants and laying off workers at levels Peterson says he has never seen before. While painful, those moves have eliminated excess new inventory sitting on dealer lots — and the interest expense that comes with it.

“What manufacturers have achieved is basically no backlog of new equipment,” Peterson says.

He says dealer consolidation over the past decade has played a major role. Larger dealer groups now carry more leverage with manufacturers, and when the slowdown hit, dealers acted quickly.

“They were paying 8% interest on all this stuff sitting on their lots,” Peterson says. “Their No. 1 mission wasn’t selling new equipment. Their No. 1 mission was, ‘We are going to move this one-, two-, three-year-old stuff.’”

Manufacturers responded with incentives to help dealers clear late-model used inventory — a level of cooperation Peterson says he has not seen in more than three decades of tracking the market.

“I’ve never seen that level of coordination before,” he says. “And the focus clearly shifted away from new.”

Pre-DEF Machines Command a Premium

Layered on top of price and supply issues is deep frustration with emissions systems. Peterson says pre-DEF equipment — whether trucks, tractors or combines — now stands out immediately to buyers.

“The good pre-emission stuff jumps forward like a neon sign,” he says.

That demand is no longer subtle. Practices that once happened quietly, such as emissions deletions, are now openly acknowledged — and reflected in sale prices.

“It used to be hush-hush,” Peterson says. “It’s not anymore. People say it right on the auction bill because it sells for more money. It just flat does.”

He says recent political discussion around environmental regulations has only amplified that sentiment, particularly among farmers who feel reliability and repair costs have been compromised.

“When he talked about it, I honestly thought it was an AI clip at first,” Peterson says. “He sounded like every farmer I’ve talked to for the last 15 years.”

New Equipment Demand Remains Weak

While used values climb, new equipment sales continue to struggle. November data show four-wheel-drive tractor sales down 19%, with self-propelled combine sales down 35% for the month and nearly 40% year-to-date. Livestock producers remain a bright spot, but on the grain side, Peterson says demand is clearly subdued.

Looking ahead, he says today’s production cuts could have major consequences when farm income eventually improves.

“When corn and beans finally move higher and stay there, we’re going to see exactly what we saw in 2021,” Peterson says. “Farmers are going to want to update, and dealers are going to say, ‘I can only sell you eight — that’s all we get.’”

Until then, he says the auction market continues to speak clearly.

Will Trump Roll Back DEF?

During a roundtable at the White House last week when the Trump administration rolled out $12 billion in farmer aid , President Trump also revealed other actions the Trump administration is working on to reduce regulations. Trump told farmers Monday his administration plans to scale back environmental requirements on tractors and other farm equipment, framing the move as a way to bring down machinery costs that have climbed in recent years.

“The other thing I’d like to add … we’re going to also give the tractor companies, John Deere and all of the companies that make the equipment, we’re going to take off a lot of the environmental restrictions that they have on machinery,” Trump said. “It’s ridiculous.”

While Trump didn’t provide specifics on how the details of that plan will come together, Trump said EPA Administrator Lee Zeldin would be involved in carrying out the effort. There’s speculation on if that will be removing diesel exhaust fluid (DEF) requirements on tractors or also addressing the long-standing right-to-repair issue.

Farm Journal reached out to EPA, and the agency confirmed it was DEF to which the president was referring.

“EPA has heard loud and clear from truckers and farmers across the United States that the Diesel Exhaust Fluid (DEF) system was unacceptable and cost millions of dollars in lost productivity,” Brigit Hirsch, EPA press secretary, told Farm Journal. “This summer, Administrator Zeldin issued clear guidance urging engine and equipment manufacturers to revise DEF system software in existing vehicles and equipment to prevent sudden shutdowns. It is essential manufacturers give operators more time to repair faults without impacting their livelihoods or safety. EPA will continue to evaluate ways to expand the work the agency has already done on DEF and looks forward to working across the administration to do so.”

Trump argued added systems meant to meet environmental rules have driven up price tags and made equipment harder to operate and repair.

“You buy it, it’s got so much equipment on it for the environmental, it doesn’t do anything except it makes the equipment much more expensive and much more complicated to work,” he said, adding, “it’s not as good as the old days.”

Trump said the administration’s goal is to remove what he called “nonsense” and require manufacturers to pass savings along to farmers.

Read more about what President Trump may do with DEF in the coming months.

Why Now is the Time To Move Used Construction Iron in the Farm Equipment Auction World

Thu, 10 Jul 2025 13:51:24 GMT

Casey Seymour and Greg “Machinery Pete” Peterson agree now is the time when many farmers spend time shopping for what they call auxiliary machinery — things like wheel loaders, skid steers, track loaders and other compact and heavy utility equipment types.

“Skid steers are one of the first things that pop up when in my mind when I start thinking about that right now,” says Seymour, adding there is almost always a healthy supply of the versatile material movers in the used market.

Machinery Pete recalls skid steer values falling a bit last year due to that high supply, but this year is a different story. Values are trending up on used because, once again, the cost of a brand-new skid steer is high.

(Machinery Pete Facebook)

“Pifer’s Auction had a sale (recently), and I think it was a 2024 Deere 335 P-Tier with 275 hours on it, give or take, and I thought that sold really well at $94,000 hard cash,” Pete says.

Another notable transaction came out of Illinois, Pete recalls. At a Joel Everett Tractors & Auction sale, a 2009 John Deere 325 with under 300 hours sold for $36,000, which was well over the previous auction high of $28,500.

“It was interesting. When they got to the skid steer they paused and said, ‘Hey, folks, this 2009 model is loaded with every single option,’ which is unusual for a 16-year-old model,” Pete adds. “But again, it was palpable how many people wanted that thing, and you know, $36,000 is a big check — but for hardly any hours on it and what you’re going to pay for a new one?”

Pete and Seymour also discuss the firming up they are seeing with used values on some of the large construction equipment seen around the farm, including excavators, wheel loaders and bulldozers.

How Kerr Auctions is Unlocking Export Markets

Alex Kerr of Kerr Auctions joined the guys next to discuss how his auction house is carving out space in the export market.

Kerr says the company has capitalized on growing equipment demand overseas by creating specialized sales that cater to export buyers. These sales often feature equipment that may not have strong domestic buyer interest due to age or condition.

Kerr has established partnerships to help overseas buyers handle logistics and shipping, and the company made the decision to eliminate buyer penalties for high bidders. Both decisions demonstrate a level of transparency and trust that helps put buyer minds at ease, he thinks.

“Specialized sales do well,” Kerr says. “We got to thinking that the export buyers, they hate some of the auction things they deal with. They don’t speak the language; you’ve got to talk to them on WhatsApp, or they have an online only presence.”

Kerr Auction’s next big export-focused Inaugural Farmer/Dealer Consignment Sale is set for Aug. 14. Check out all the details here.

The Rest of the Episode

Shawn Hackett, president and CEO of Hackett Financial, joined the show for an update on where commodity markets sit today and row crop futures prices. Glen Birnbaum, principal with Sikich, came on to talk machine depreciation rates and upcoming changes to tax law.

And Aaron Fintel, used equipment specialist with 21st Century Equipment, gave his view on moving used compact construction equipment out on the western plains.

Head over to YouTube to watch the full episode , and give it a “Thumbs Up” and hit the “Subscribe” button to get every Moving Iron episode as soon as it drops.

Machinery Pete: Versatile Skid Steers, Used Tractors Are Hotter Than Fish Grease

Mon, 23 Jun 2025 21:46:48 GMT

What goes well alongside sweltering summer Midwest heat and humidity?

Well, if you answered used farm equipment auctions, you’re on the same wavelength as our used equipment-obsessed friend, Machinery Pete. He hit the road last week, capturing all of that sweet, sweet iron moving at auction.

All jokes aside, the extreme heat and humidity that hit the Upper Midwest this weekend can indeed be a bad omen for farm auction results, Pete says. Good thing there’s plenty of online auctions this summer so you can avoid the sweaty, sunburned crowds while still getting down on all the bidding action.

Here’s a quick sample of what Pete says stood out from the past seven days of red-hot farm equipment auction sales:

(Machinery Pete Facebook)

In an online Pifer Group auction that pulled used farm equipment from Minnesota and the Dakotas, a 2024 John Deere 335 P-Tier skid steer (pictured above) with 275 hours sold for $94,000. Pete says that’s a pretty good deal considering the only comparable model listed for sale at MachineryPete.com right now is a 2025 335 P-Tier. That bad boy starts at $159,000, though.

(Machinery Pete Facebook)

And a 2009 John Deere 325I skid steer with only 124 hours on it sold for $36,000 at the Harry and Lola Blackburn farm estate sale in Iowa.

On the tractor front, on Tuesday of last week, the folks at DPA Auctions moved a pair of late-model John Deere tractors that originated from farms in South Dakota.

(DPA Auctions)

In that sale, two 2024 John Deere 8R 280 MFWD tractors, one with just under 1,200 hours (pictured above) and another with 1,451 hours on it, sold for $315,000 and $296,000, respectively.

“Those were both above the average auction price this year, which is just over $282,600,” Pete says. “And interestingly, that’s up from last year’s average which was just over $258,000.”

And finally, Pete’s “Pick of the Week” is a pair of used tractors:

(Machinery Pete Facebook)

At the Blackburn estate auction in Iowa, a Gold Key Certified 2009 John Deere 7230 Premium 2WD tractor (above) with only 1,076 hours sold for $94,500.

And at the Al Bruhn farm auction sale Saturday in Mapleton, Iowa, a vintage 1968 International Harvester 756 German diesel tractor set a new all-time record at $29,000. The previous high for that year/model was $21,000.

Auction to Watch This Week

Sullivan Auctioneers and Big Iron Auctions is having a “No Reserve Dealer Inventory Reduction” online auction for Sinclair Tractor featuring a huge collection of machines from the dealer’s Iowa stores. Check out the video preview from auctioneer Dan Sullivan above.

Your Next Read: Farmers Are in the Buying Mindset for Used Equipment

Machinery Pete's Advice For 'Young' Farmers

Fri, 13 Jun 2025 18:41:08 GMT

What a life young producers have ahead. You’ve got your own canvas to paint. But if you permit it, there are a few gray-haired words of wisdom the old auction price guy would like to affectionately direct your way.

Keep Your Head on a Swivel
My father, who is now 87, gave me this advice in November 1989 when I set sail trying to help farmers, dealers, bankers and auctioneers better understand what used equipment is worth. Train yourself to seek out information from varied sources, be inquisitive and watch what folks are paying attention to. There are valuable insights waiting.

Stubbornness is an Asset – Sometimes
Believing in yourself, even if others don’t, is your No. 1 job. When I applied for our first home loan 33 years ago, the lender spouted off stats on how many new small businesses fail and said, “Sorry, no can do on that loan.” Rejection was like rocket fuel to me. I pushed harder and took on two part-time jobs. But the trick I’ve learned over the decades is knowing when to harness that stubbornness. Using it all the time isn’t pretty or easy for your loved ones to live with.

Eye Contact
A while back in the “Ag Twitterverse,” someone asked, “What’s one piece of advice you would give to a young person?” My reply: Eye contact. We live in an increasingly impersonal world. Technology is marvelous, but people skills are suffering greatly. The seemingly simple act of establishing and holding good eye contact with the people you are talking to is becoming extinct. There’s a golden opportunity for young folks, whether in ag or not, to stand out and get noticed. Hold good eye contact and listen well. Trust me, it will bring untold opportunities both in business and in your personal life.

It’s About Story
You might have noticed folks want to buy furniture, clothes and food with a story to it. There’s a huge opportunity there. By all means, look for ways to make your operation more efficient. But also think about new and different ways to tell the story of what you are producing. Take it from the data guy, when you tell a little story from your heart and personalize what you are selling, whatever it is becomes worth more money.

This 2001 John Deere 8210 Gold Key Tour certified tractor sold for a record $132,500.

Take this 2001 John Deere 8210 Gold Key Tour certified tractor with 3,059 hours and one owner for example. On March 22 in West Unity, Ohio, we filmed a Machinery Pete auction preview video. The late owner, David Buehrer, took great care of his equipment. His wife, Lynne, told me, “I can’t show you the Gold Key. We put it with David in his casket.”

His son, Nate, said, “Dad taught me to never have the radio on in the tractor, combine or truck because we had to listen to our equipment.”

The machine sold for $132,500 – breaking the record auction price that had been in place for 13 years by $17,500. The story matters.

Your Next Read: 5 Options to Consider During Farmland Transitions

Casey Seymour and Machinery Pete Join Forces on the Moving Iron Podcast

Fri, 07 Feb 2025 14:11:20 GMT

With farmers tightening their budgetary belts during a challenging economic time, the equipment market is going through significant changes. Those changes trigger plenty of questions. Is now a good time to buy? Is it better to wait and see how the market evolves in the coming year? Are prices even on used equipment going to continue to climb?

Who better to answer these questions than Casey Seymour and Greg “Machinery Pete” Peterson, two of the industry’s most trusted experts? And you can now hear them together. Seymour’s popular weekly Moving Iron podcast has moved to the Farm Journal podcast network and Peterson has joined as co-host.

“I’m excited about joining the Farm Journal podcast network and even more excited that I get to share this time with the one and only Greg ‘Machinery Pete’ Peterson,” Seymour says on the debut episode. Peterson shares that feeling, congratulating his new partner on building a large and loyal audience for both the podcast and the annual Moving Iron Summit event. “You’ve done great work and I’m excited to be part of it,” Peterson says.

Growers, dealers and anyone interested in the ag equipment marketplace will be just as excited. Each week the dynamic duo will explore and analyze news and trends in the business of ag equipment and the auction market. Episodes also will feature a dealer spotlight and a segment on technology. On their debut episode, Seymour and Peterson are joined by Shawn Hackett, climate and commodities expert, and Aaron Fintel, a used equipment specialist.

The discussion in the first episode ranges far and wide, as they dive into the boom-and-bust cycles in agriculture as well as in sales of ag equipment. Last year saw dealers taking an unprecedented volume of late-model equipment to the auction market, and the hosts don’t see that trend continuing into the new year. While they foresee the market’s recovery taking time, farmers and dealers could notice changes by the fourth quarter of 2025, even late in the third quarter.

As far as when to buy, Peterson says, “Don’t sit back too long because things are starting to firm up.” He adds that dealers he’s spoken to have been pleasantly surprised by an uptick in sales in December and January. Seymour attributes his optimism to a number of factors, such as decreasing interest rates, a slowing auction market, rising commodity prices and pent-up buying demand. He says, “There’s going to be a little more money out there by the end of the year.”

Watch the full episode of Moving Iron.

Your Next Read: Machinery Pete Explains Why 2025 Could Be a Great Year to Buy Equipment

Machinery Pete Reveals the Strongest Drivers of These Record Used Equipment Values Right Now

Thu, 23 Feb 2023 19:30:51 GMT

Strong used equipment values have been a theme for the past 18 to 20 months, and Machinery Pete doesn’t see that story changing anytime soon. There were expectations prices would soften to start 2023, but that hasn’t been in the case. However, if you’re searching for a bargain, during National Farm Machinery Show last week Machinery Pete revealed two areas farmers may want to watch.

Greg Peterson, also known as Machinery Pete , says prices of used four-wheel-drive tractors have been on fire as farmers are paying premiums prices for slightly older pre-DEF, pre-Tier IV four-wheel-drive models that are still in nice condition.

So, just how dynamic is the used equipment today? Machinery Pete says he’s running out of adjectives to describe it.

“As hot as it was a year ago, which was the hottest I’ve ever seen by a huge factor, amazingly, through the end of ‘22, the used values kept going up across the board,” says Machinery Pete. “When the calendar flipped, there were a lot of people thinking it can’t go any higher because now we’re taking out the urine taxpayers November December, but used values have got nothing but up since January.”

Another Key Indicator of Used Market Strength

He says the biggest driver of values continues to be availability, along with the right piece of used equipment on the market, even if it has high hours. Now, there’s another indicator of the market strength.

“We’re seeing auction pricing, strong pricing out of the deep South,” says Machinery Pete. “And over my 33 years, that’s always been a sure sign that you know that’s a hot market when used values there are exploding and higher in value.”

What to Watch for the Best Bargains

So, where are the bargains? Well, they may not be huge bargains, but there are a couple areas showing the best value for those in the market to buy.

“The only two spots that I see are low horsepower tractors, frankly, because there’s just more manufacturers so supply is built back up,” he says. “And just since the second week of December, we’re starting to see one- to three-year-old late model combine softened a little bit. It’s not like prices are dropping like a rock, but just softening.”

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