News

Online used farm equipment market remains strong

Despite the sluggish ag economy demand for used farm equipment remains solid. Mark Stock co-founder of the online equipment site Big Iron tells Brownfield, “there will always be equipment bought and sold on an auction.”

He says he doesn’t expect the volume of sales to fluctuate significantly. “Because the dynamics never seem to change,” he says.  “You always have someone retiring. Someone is picking up some extra quarters of ground.  They need an extra tractor or they need to upgrade their combine or update their planter.  There will always be that going on.”

And with the recent rise in grain prices, Stock tells Brownfield he’s expecting online sales to jump again during the last quarter of the year.  “If there is one thing a producer doesn’t like to do – it’s pay a lot of money to Uncle Sam,” he says.  “So their tax person will tell them their tax situation.  So they’ll go out and do some investments and do some 179’s.”

AUDIO: Mark Stock, Big Iron