Tractors manufactured in the late 1970s and 1980s are some of the hottest items in farm auctions across the Midwest these days — and it’s not because they’re antiques. Cost-conscious farmers are looking for bargains, and tractors from that era are well-built and totally functional, and aren’t as complicated or expensive to repair as more recent models that run on sophisticated software.
“It’s a trend that’s been building. It’s been interesting in the last couple years, which have been difficult for ag, to see the trend accelerate,” said Greg Peterson, the founder of Machinery Pete, a farm equipment data company in Rochester with a website and TV show. “There’s an affinity factor if you grew up around these tractors, but it goes way beyond that,” Peterson said. “These things, they’re basically bulletproof. You can put 15,000 hours on it and if something breaks you can just replace it.”
Because of the computer software built into the new machines, a farmer can no longer fix it himself. He must call in a service truck, at high cost with long wait times. This extra cost is on top of the high cost to buy the new tractor, which cost a lot more than the used machines.
I predict that the cost for used tractors is going to continue to rise, until some smart entrepreneur realizes the market possibilities, and begins making new tractors without the bells and whistles.