Home Indiana Agriculture News Prices on Used Farm Equipment Skyrocketing Nationwide

Prices on Used Farm Equipment Skyrocketing Nationwide

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Greg Peterson, or Machinery Pete as he’s more commonly known, is the foremost expert on used farm machinery. He was on the seminar stage at the Indiana Farm Equipment & Technology Expo Tuesday.

When asked if he could give an example that illustrates how high prices are going, Peterson said, “Last Thursday, an online farm auction in Charleston, IL where, again, I’ve been compiling this data for 32 years, and one auction had the highest auction price on a tractor, the highest auction price on a combine, and had the highest auction price on a planter. And the day before, we saw the highest auction price ever on a sprayer.”

Peterson says supply chain disruptions and chip shortages are contributing to the elevated prices for used farm equipment since new equipment is practically unavailable.

Hear my full interview with Machinery Pete below and view the archived video of his presentation on our Facebook page.