IARN — Online auctions platforms offer unique opportunities for selling and purchasing used farm equipment. A widely-used, online platform notes increased business during the pandemic.
BigIron Auctions fully transitioned to timed, online auctions in 2009. Mark Stock, founder of BigIron Auctions, says the new offering “took off fast,” with a vested interest among retiring farmers, hoping to sell their accrued assets. Stock mentions harvesting equipment seems to be a “hot commodity” on his online auction platform.
“There are lots of combines sitting in the market, but values are good. We’re going to have close to 300 combines selling in the last part of August and into September,” Stock says. “Harvesting equipment is popular right now. We have a lot of augers, grain carts, semi trucks, grain trailers and are even seeing Ag baggers right now. A lot of people lost grain storage, so they are trying to buy Ag bagging equipment, accessories for heads, and corn reels.”
Prices are holding strong, according to Stock. He encourages farmers looking to sell their assets to treat them well.
“If you care for a piece of machinery and treat it well, it’s going to treat you well when you sell it. If you beat equipment when you’re using it, it’s going to beat you back when you sell it. There are a lot of nice pieces being sold right now on retirement and sales or excess equipment inventory sales,” Stock says.
Story courtesy of the Iowa Agribusiness Radio Network.
