As winter begins to take hold in the northern hemisphere, it’s the perfect time to plan and assess your farming equipment needs for the 2021 season. Farming equipment is always in high demand on Tradus. But no matter if you’re looking to buy or sell, being aware of current price trends will always help you make smarter choices. In 2020, prices of farming equipment are trending upwards. Take a look at some of the biggest changes this year.
Farming equipment: general trends
The big news is that year-on-year, the price of second-hand farming equipment increased by 3.1% in 2020. This means there’s a wealth of opportunity for buyers and sellers who know the market.
Buyers may want to pick up newer second-hand equipment that is depreciating quickly in value during their first few years. Or sellers can be more aware of the demand for reliable equipment that’s 5, 10 or even 15 years old. After all, considering the high price of new farming equipment, a second-hand product is often just as capable and is more likely to retain its value over the years.
Tractors: our most popular farming equipment
Tractors are consistent sellers on Tradus – in fact, they’re the biggest selling item in our farming equipment section, with almost 20,000 tractors put up for sale in the past year. The average price increase across all brands was only 1.2%, but there were certainly some eye-catching numbers within the second-hand tractor market in 2020.
For example, recent models from John Deere’s 8000 series come armed with technological innovation and headline-grabbing reviews, but their second-hand value dipped by around 16% this year. That’s understandable, given the common depreciation new vehicles and equipment often face. But it’s also good news for buyers looking to pick up the latest tractor technology for the lowest price.
On the flipside, if you’ve been holding onto a trusty John Deere model like the 6230 or 6930, it may finally be time to sell it on. This year, the average price of these models is up by 4.1%, highlighting that buyers still have a great appetite for reliable modern classics. Another older tractor model that’s showing its long-term value is the Fendt 716, which was originally released back in 2006. From 2019 to 2020, its average price has increased from €52,886 to €68,389 – that’s an impressive 29.3%.
Hay and foraging equipment: in-demand farming brands
Of course, you don’t always have to rely on a specific model to stand out from the crowd. Second-hand hay and foraging equipment, like mowers and balers, saw an overall increase of 10.8% this year. But it was brands like Claas and Kuhn that really pushed the trend upwards. Products by Claas increased in value by 12.6% on average, while Kuhn models increased by 21.7%. And if you happen to have a Kuhn GF amongst your farming equipment, you may be interested to learn that it was one of this year’s biggest price increases, up by 35%.
Harvesting equipment: take the time to find the right model
When the second-hand equipment you’re purchasing has a high base value, any percentage drop in the price can be substantial in absolute value. That’s definitely the case for harvesting equipment, particularly big-ticket purchases like combine harvesters. Across all brands, prices in this sector decreased by 2.6%, but trends vary dramatically between individual brands and models. Finding the right harvester that suits both your needs and your wallet might make a lot of difference so it’s well worth taking the extra time to research the current market.
For example, while the John Deere T model increased in value by 10.1% (or just over €10,000), the S model decreased by 10% (or €14,600). The end result is that both lines are selling for a similar average second-hand price. So, you might find you can access the updated technology and more integrated tools of the more expensive product range for the same price.
Other farming equipment: impressive returns on your investment
Fertilizer applicators also saw a solid increase across the entire category, up 8% on average. But it was actually tillage products that had the biggest increase, up by 15.6% across all brands. Although typically involving relatively low investments compared to other farm equipment, the 29% price rise of the Kverneland Eg model resulted in a year-on-year increase of €4,945 – an impressive return on any piece of second-hand equipment.
No matter if you’re buying or selling, it’s the ideal time to make the most of the rising price trend in second-hand farming equipment.