Used Tractor Auction Values Up 4.43%, Planters Up 15.4%: What Equipment Buyers Should Know Before Waiting

If you have been waiting for used machinery prices to break before replacing a tractor or planter, the latest market data suggests the wait is not paying off. Fresh October numbers from Sandhills Global show auction values for larger used tractors and planters running ahead of a year ago, even as new tractor and combine sales stay deep in negative territory.

That mismatch, slow new sales but firming used values, comes down to supply. Sandhills said used high-horsepower tractor inventory has now declined for 17 straight months on a year-over-year basis.

What the October used-equipment numbers show

Sandhills tracks asking and auction values across TractorHouse, MachineryTrader and its other listing platforms. Its Nov. 6 report on October data showed:

• Tractors 100 hp and up: inventory up 1.38% from September but down 12.28% from a year ago. Auction values dipped 0.81% for the month but were up 4.43% on the year. The 175- to 299-hp class posted the biggest annual auction gain, at 6.7%.
• Planters: inventory down 14.04% from last year; auction values up 15.41% year over year.
• Combines: inventory down 9.67% on the year; auction values up 1.23% for the month but down 0.88% on the year, the fifth straight month of a downward trend.
• Sprayers: inventory down 12.93% on the year; auction values down 2.24%.
• Compact and utility tractors: inventory down 17.32% on the year; auction values up 1.23%.

Sandhills also reports an “EVI spread,” the gap between asking and auction prices. It stood at 32% for high-horsepower tractors, 36% for combines, 37% for sprayers and 45% for planters in October. A wide spread means dealer asking prices sit well above what the same kind of machine brings at auction, which gives buyers room to negotiate on retail units.

New sales are still sliding

On the new side, the Association of Equipment Manufacturers (AEM) said U.S. sales of farm tractors fell 16.4% in September from a year earlier, to 15,024 units, while self-propelled combine sales fell 10.9%, to 369. Through the first nine months, tractor sales were down 12.6% and combines 9.4%.

“September’s sales underscore the difficulty in the agriculture market today,” AEM senior vice president Curt Blades said in the group’s release. AEM publishes the report monthly; October figures had not been released as of Nov. 8.

Manufacturers have responded by cutting output, and that is shrinking the pool of late-model machines on dealer lots, Farm Progress reported in a Nov. 7 equipment market update.

Financing: rates may not help

Greg Roberg, vice president of sales at equipment lender AgDirect, told Farm Progress he does not expect borrowing costs to improve. “There’s a better chance they’ll go up,” he said, adding that futures traders appeared to be betting on one more Federal Reserve hike before year-end. Farm Progress said the Fed raised rates in September and held in October.

Roberg said dealers currently have “a very good assortment of late-model equipment,” and that cash flow, more than interest rates, drives when farmers buy. Ryan Dolezal, manager of TractorHouse, told Farm Progress the auction market has seen more activity and that dealers are becoming more optimistic heading into 2027.

Before you buy: a short checklist

• Know which category you are shopping. The market is not moving as one. Larger tractors and planters are firming at auction; combines and sprayers are flat to softer. That can favor upgrading a harvest or spray machine now while waiting on a planter, or vice versa, depending on need.
• Use the asking-versus-auction gap. With asking prices 32% to 45% above auction values in key categories, per Sandhills, compare dealer quotes against recent auction results for similar hours and model years before negotiating.
• Price the loan, not just the machine. Get a rate quote and term in writing; if rates rise as AgDirect’s Roberg expects, waiting could add financing cost that offsets any price softening.
• Talk to your tax preparer before year-end. Roberg advised buyers to involve their accountant. Our recent guide covers year-end Section 179 and prepaid-input planning for 2026.
• Weigh dealer support. Parts and service access matter as much as price; see our look at what Deere’s Iowa plant closures mean for buyers.

This article is general information, not financial or tax advice. Talk with your lender and tax professional about your own situation.

Frequently asked questions

Are used tractor prices going up or down?

For tractors 100 hp and larger, Sandhills said auction values were 4.43% higher than a year earlier in October, though they dipped 0.81% from September.

Why are used prices firm when new sales are down?

Supply is tight. Sandhills said used high-horsepower tractor inventory has fallen year over year for 17 months, and Farm Progress reported that manufacturers have cut production.