Today I was watching the Iron Planet online auction and was surprised by the values that some of the equipment brought. Some of the buyers were from other countries (with the bulk of the foreign buyers from South America) but the majority were from the US. So what are everyone's thought on the price of used equipment and the $$ they are bringing at auction. Usually an auction price will tell you what the commodity (what ever it may be) is worth at liquidation. What I have seen by watching the auction prices over the last year is a steady up trend in value. Is the US economy getting better or are there other factors involved?
i think the global demand for our used iron is up. these guys can buy at 30-50 cents on the dollar of the real value. americans tend to take care of thier tractors and the word is out. you know how they treat the machines down south. basically we are done with them and they go on to a second or third life. i would only export cat, komatsu, hitachi ??? don't know about deere. this is to latin america. i do not think it is getting better, there is to much invetory(homes) on the market to affect a major boom. plus no one can borrow. commodity prices and fuel and going through the roof. and inflation is rearing it's head. i think it will be a long ride to ever get back to where we were regards. cd
I sold some stuff last fall and the Ritchie Bros rep said that overseas demand is what's keeping it up. Look at Caterpillar's earnings and stock price. Both are great. If I would've had any money in late 2009 to short Cat's stock, I would have quickly lost it cause I was sure it would drop like a rock. It's sure not the North Amercan economy keeping it fueled. Looks like the economy is picking up to me in my territory ever so slowly, but this rise in oil prices will quickly kill off any jump start we were seeing especially if fuel prices get to the 2008 levels again.
Or fourth and fifth and then they get rebuilt.. Yeah CD they don't take maintenance as seriously as North Americans do but I will tell you that a Cat D5G can take a tremendous amount of punishment and lack of maintenance and still perform fairly well..:cool2 Another reason why used equipment from North America is so popular in Central and South America because they can buy in the US, pay the shipping and taxes and still be much cheaper than buying a used machine in their country. Some of that has to do with import taxes because it's a easier to get one used machine through customs, if you know what I mean. The Central and South American buyers are buying dollar for dollar since most of their currency is tied to the dollar. The difference is what the machines cost new and subsequently used in their country that it's still financially feasible to buy and ship. In Costa Rica a new Cat 416E backhoe (4x4, no cab) will run close to a $100K. (Import taxes are high on most new items and the dealer can't get a shipment of new iron through customs without paying the duty) Anyway, the IP auction I was referring to, the majority of the buyers were from the US. Here are the results, if you look at the columns on the right of the page it shows the seller and buyers location http://www.ironplanet.com/jsp/equip/auction.jsp?groupId=4830 Take for example the 2007 315CL with 1K hours that sold for $91,000 to a buyer in Florida. That is almost retail value. Getting back to the topic, I have seen the auction prices steadily increase and I was surprised that the majority of the buyers were from the US. Now some of the VA, SC and FL buyers may be brokers sending iron to the ports but still the majority was North American located. From what I have been hearing is the economy still stinks in the US, Canada is a different story due to the patch. If the economy still stinks in the US, then why are US buyers paying more for equipment?:beatsme Are we in the middle peak of the dreaded "W" shaped recession and this isn't going to last?
Looks like more than slight dent. Ad I saw while browsing the internet. FOR SALE HITACHI EXCAVATOR EX120-2, 1994 MODEL, WITH ABOUT 9000 HOURS, EQUIPPED WITH HYDRAULIC THUMB, ONLY 20 MINUTES FROM THE PORT OF TACOMA WA ( PERFECT FOR EXPORT), THE UC IS ABOUT 70%, ENGINE RUNS STRONG, ISUZU DIESEL ENGINE , NO BLOW BY, ORIGINAL PAINT, SOME DENTS, AND SLIGHT DAMAGE ON THE TOP OF THE CAB, MISSING SOME GLASS, BUT WORKS GREAT $24500
UC 70%? He must mean that it still only has 70% of the pieces.
Not to mention the missing top roller and all the oil on the tracks. Would also wonder why the engine hood is raised up. The machine is a wreck!
I don't think i would give him $24.50 leave alone $24,500 what a wreck i dont think there is one panel that is straight on this thing me think he could be sitting on this one a while uless he can really really lower his price LOL.
the situation 1- that hitachi is a real gem, liitle paint, wire the tracks up. bondo the roof, call er good. lol 2- i am glad to see auction price is up. i think it does tend to based on what market you are in. i made some real good deals in 2010 at auction and in repo. i need a new wheel loader and want a new dozer but i can get by. 3- anyone that was able to hedge some fuel is fine. $85.oo a barrel is awesome. but that is gone. i bought quite a large load in december and paid $less than $2.00 us. so we are holding stong. i can run another 6-7 weeks with what i have. if it goes over $4.00 per gallon we are all in deep do-doo. 4- we need to open up our public lands and drill now! we have fought for this country and the natural resources are there for the using. i agree we all need to cut back. but no by manipulated market prices and inflation. 5- all of this is coming back to get the american people. we need a mjaor overhall in all aspects of our society but it will not happen overnight. squashing small business and making it impossible to do business is bulls...t. i have been pulled over 3 times in the last two weeks for cops just looking to write tickets. i have not recieved one ,, but come on. last night i left my truck running in the downtown area. 1 road. i come out from the post office and there are 3 patrol cars there. i live in a ranching town and everybody(the newpeople) want to change everything. so i told the cops how i felt and split, remarking i would be at home if they wanted to continue the discussion. bottom line- no sales tax, no revenue. i just swept a good part of this toen b/c of all the chips from the sander. the public works chief tells me- ha can't sweep becuase they are broke. sorry about the rant. regards, cd :usa:usa:usa
Wow! This thread is going to make into the top ten most "Highjacked threads". From auction prices of used iron to a detailed analysis of a very worn Hitachi to fuel prices in only 9 posts. Good stuff, carry on.
In my defense I thought it was related due to export possiblity as stated in the ad. High prices for equipment that would be exported. I didn't know that Mexico and South America were hard up for equipment. At least that is my story!
Don't forget Central America! They haven't seen a piece of equipment they can't break yet and fix it with 7018 and bailing wire...(duct tape is too expensive..:tong)
When did they get 7018 down south. Last guy I talked to said they could only afford 6011 and AC machines
www.raybornequipment.com I am trying to get my website out there more.
Welcome to the Forums grayborn. We have a policy of advertising here on HEF that gives you one "freebie" to post your site or wares. The Forum Rules can be found as a "sticky" at the top of each sub-forum. Take a look at this page on the top, posted by Mr Digger242j, are the forum rules. An excerpt from the rules - So that was your freebie.
I know people....:cool2
staying on topic i have more stuff parked in my yard.. anyone want to buy a Cat307 with 2 buckets and a thumb? lighty used, never worked in rock. serviced every 100 hours. heat, a/c. sirius radio, heated seat. lifetime warranty. only 5700 hours. all for $46,500.00 but really- i see the compact area holding good value. it may have dropped some but not alot. with all the excess iron here in the u.s.a. i don't know what to think. there are still some real deals out there. and i have watched florida and the values seem to hold up even on the big stuff. regards. cd :usa:usa
How much down and how much a month? I could probably get someone to co-sign...:tong On another note, there are some good deals out there still. The compact and backhoe markets (of all things ) seem to be holding well, considering the Great Recession and all. The larger iron, say 45T hoes, etc and up seem to holding value but mid range excavator prices are all over the place. Even track loaders prices have risen.
Why cant I post new threads?
You need to make 3 posts in order to start a new thread, it keeps the spammers out...:cool2
I love it. lol
Check this WW that went for $15K last week 2-24, If it was closer to Ca. I would have bought it. http://www.ironplanet.com/jsp/s/item/308686?h=405-1,4830
Looks like oil repaort might indicate hyd and or trans problems coming.Alow of copper.
That was a good buy even if you had to put a trans in it.
Scrap metal prices our up. Prices on the older, heavier machines will rise as a result.
Say I will buy that.But I need to demo it for about a month or so.you know make sure everything works especially the A/C and radio.So just load it up and send it to Texas.O yea I need you to pay the freight too.How much for the operator?
Easy there big fella'! I'm first in line...:guns
the 307 ok guys no need to fight over the 307. all i had for transport was my new t800 with a 900 cummins redtop and a 36 speed. rear dropper, no sleeper. and my brand new detach. with a rear stinger . don't worry about accomadations , the driver and operater will stay at the four seasons. you do have one in texas eh 2 stick? then after a month or two they will head down to costa rica. don;\'t worry about buying fuel either, they have the company credit card.... oh make sure they buy you guys beer every day after work, and a bottle of crown on fridays. once the machine has about 10,000 hours call me back and i will send my wrench down to put a undercarriage and pins and bushings on her. ps. if you guy's need a service call down there to switch out a fuel filter or battery.. just call.. oh yeah,, don't forget to have my guy bring the parts and beer.:tong:tong regards, cd
Been wantin' to try one of them 36 speeds but I heard the autoshift version is better and oh yeah, I don't think 900 hp is enough. Since your already headin' this way with the drop deck, I have a few more things to throw on there, since you're already makin' the trip and all...:Cowboy