INSIGHTS INTO THE MID-RANGE TRACTOR MARKET


Machinery Pete provides dealers with business intelligence updated daily. This includes the auction price reports that have been the foundation of the company for the past 27 years, as well as insights provided by the dealer listings (since 2015) that are prominently featured on MachineryPete.com, including search traffic trends over time and specified by geography. dealers across the country are now using this actionable information to market their inventories with industry-leading marketing tools.


Mid-range tractors (100 to 174 hp) provide a good example of how data can effectively be used. According to Machinery Pete founder Greg Peterson, “There’s been stable and steady buyer demand for used tractors in this horsepower range now for two full years, going back to the 1st Quarter of 2015.”


But some things have changed.


Top 10 States Searching for Mid-Range


(100 to 174 hp) Tractors [Spring 2017]


Minnesota Illinois Texas Iowa


Wisconsin Missouri Kansas Nebraska


North Carolina Ohio


“Condition is everything right now. Good to very good condition used equipment is holding value to even inching up a bit, while average to rough condition stuff equates to falling value,” said Peterson.


This trend has led to strong hard cash values at auction. For example, a 2014 John Deere 6170R located in Idaho with 565 hours (no loader) sold for $138,600 at a March 23, 2017 online farm auction. That price is a new record high auction price – smashing the previous record of $126,000. This wasn’t the only strong price from this sale, in fact, other mid-range horsepower tractors sold well, too.


“We don’t see buyer demand fading away in this category,” said Peterson. “Slower sales of new tractors pushed more buyers into the used market, where they look for and compete to acquire the nicest used models.”


Over the past 12 months, the highest search volume for these tractors on MachineryPete.com occurred in July and August.


12 | The Retailer Magazine | May/June


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