Plenty of opportunities to buy yet in 2022

By Matt Reese

The end of 2022 is looming and there are big purchase decisions farms may need to make in the coming weeks, many involving equipment. 

Peter Gehres

“People are looking to maybe turn over equipment at the end of the year to get something new and certainly people buying needing to spend some profits rather than paying Uncle Sam. Fall auction season is always a very busy time and after the Labor Day holiday gets wrapped up, we go as hard as we can until Christmas,” said Peter Gehres, CEO of Jeff Martin Auctioneers. “We are actively getting ready for auctions all around the country throughout the rest of the fall. We’ve got a great auction coming in Lima, Ohio on Dec. 13 at the Allen County fairgrounds. Brandon Gerdeman is based right there in northwest Ohio and taking consignments actively for ag equipment and transportation equipment, as well as construction equipment and any other assets related to that. It’ll be heavy on ag in there. We’re expecting tillage equipment, tractors, and harvesting equipment as farmers get out of the fields. And right before that on Dec. 3 for folks over in western Ohio we’ve got on our ag equipment auction over in Clayton, Ind., which is just up the road from Indianapolis. That’ll be stocked full of agricultural equipment and tractors. There are certainly plenty of opportunities to buy and plenty of opportunities to sell equipment here in the Midwest. We have equipment auctions scheduled through the end of the year in Minnesota and South Carolina as well as Mississippi and we’re opening a brand-new auction facility in Houston. You might want to hop on there and see if there might be a deal or two for you.”

The broad footprint of Jeff Martin Auctioneers offers advantages for equipment sales. 

“For our sellers, we have an auction almost every week they can put equipment into. While there might not be an auction right in their immediate vicinity, there is an auction that they can consign equipment to at any at any given time if they do need to sell something,” Gehres said. “And, because we have so many auctions around the country, we have hundreds of thousands of buyers every single week looking at our auctions for a tractor, combine, bulldozer, or skid steer. We all know in today’s world it doesn’t really matter where it’s at, you can get it very quickly if it’s the right price. We can have it on your location in pretty short order. We’re really building a national marketplace that folks can depend on.”

The auctions combine the benefits of being live and online working together.

“We have phenomenal auctioneers, but it goes beyond that. It also depends to our ring men — the folks who work on the ground. They have to understand the online bidder is flashing up in front of the auctioneer and so they work with our live bidders to make sure they understand they’re competing against buyers all around world. At an auction in Cleveland this fall, we got a great live crowd on the ground but we had over 650 bidders online competing,” Gehres said. “Then we’ve got great clerks that run our Internet bidding that represent those bidders and communicate with them effectively. It really takes a team to do it right. It takes individuals committed to the auction process and doing this for a living day in and day out. We’ve got a crew that just works constantly at the live auction process. Our crews have got a lot of practice and they’re very good at it. They make sure that everyone gets an opportunity to bid and that’s to the benefit of our sellers, of course. It is important that our buyers have a consistent, reliable experience with an opportunity to buy and have a good time doing it.”

Used farm equipment continues to enjoy very strong prices, though the auction market has been continually evolving.

“We have seen unprecedented prices due to the lack of availability of new equipment being slow to come to market. It has really driven up the used equipment prices. I would say there is some unsteadiness in the market as far as unpredictability. For good ag equipment that doesn’t have a lot of hours, those prices are remaining strong. For some of the older, dated equipment that may have a have a lot of hours on it, we’ve seen prices return to a little bit more normal levels,” Gehres said. “It’s easy for me to say as an auctioneer, but if you need equipment, auctions are probably your best option right now. Next spring, I would hate to look back and say, ‘Boy I wish I would have bought that planter or that tractor last fall because prices didn’t go down.’ Frankly, they may even go up a little.”

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