When Will The Other Shoe Drop? Machinery Pete on Future of Used Farm Equipment Values

Machinery Pete chats with Jason Ingermanson of Solomon, KS whose beautiful line of farm equipment, including a ’22 John Deere X9 1100 combine with only 107 sep. hours, is selling on March 20, 2024 online auction by www.PurpleWave.com. Beyond the auction, we learn of the amazing growing restaurant biz Ingermanson has built since 2011, with 100 locations in 15 states with 3 strong growing brands. We also learn about how Ingermanson is giving back in a HUGE way with a program in cooperation with Kansas Wesleyan University in Salina, KS, aimed at helping motivated young people gain an actual vibrant entry way into a career farming.[:34] - Machinery Pete previews today’s guest[5:25] - Interview with Jason Ingermanson begins[6:05] - Jason’s items in March 20th sale, how he’s maintained his machinery[14:30] - Growing up and why Jason wanted to become a farmer[20:20] - How Jason got into the restaurant business[33:30] - Philosophy and process of running successful restaurants[39:07] - Advice to young people[47:48] - Initiatives to get young people into farming[1:00:30] - How to get in touch with Jason, final remarks[1:08:08] - Final words from Machinery PeteMachinery Pete was founded in 1989 and has grown from its humble beginnings to a full-fledged marketplace for farming equipment. Greg Peterson, founder and host, has also released Machinery Pete content across platforms including YouTube with his long-running Machinery Pete TV show.If you'd like to receive new episodes as they're published, please subscribe to the Machinery Pete Podcast in Apple Podcasts, Google Podcasts, Spotify or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show. 

Machinery Pete chats with Rodney Miller, host of the well-loved TV show “Small Town Big Deal” on RFD-TV and 300 other TV stations across the country. Rodney has deep farming and farm equipment roots, being from Benton, IL where he still has a farming operation. He was also a force behind the growth of Montana Tractors from $3M in annual revenue to $80M+ back in the day, before moving on to CEO position with McCormick. Rodney is a huge IHC tractor and equipment collector and shares many wonderful stories with Pete on all things Red equipment, including a Fire Truck that was actually at Ground Zero on 9/11.[:34] - Machinery Pete’s gives background on today’s guest[5:31] - Interview with Rodney Miller begins[11:46] - About Rodney’s show “Small Town Big Deal”[22:11] - The first episode, importance of telling stories of veterans[26:15] - Positivity in media[31:56] - Rodney’s tractor collection[45:09] - Growing up in Benton, IL, farm roots[1:14:02] - Final words from Machinery PeteMachinery Pete was founded in 1989 and has grown from its humble beginnings to a full-fledged marketplace for farming equipment. Greg Peterson, founder and host, has also released Machinery Pete content across platforms including YouTube with his long-running Machinery Pete TV show.If you'd like to receive new episodes as they're published, please subscribe to the Machinery Pete Podcast in Apple Podcasts, Google Podcasts, Spotify or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show. 

Machinery Pete talks fast-moving changes in the auction industry with recent notable consolidations and rapid technological advances. Pete chats with Aaron McKee, Founder/CEO of Purplewave.com, a long time leader in the online only auction space, about their big news last month (Oct. ’23) of a new partnership with Copart, Inc., a worldwide leader in the online auto auction space.[:35] - Machinery Pete’s talks consolidation [11:06] - Interview with Aaron McKee begins[11:45] - Purple Wave and CoPart’s partnership[15:25] - Finding the right sellers to work with[20:24] - Early days of Purple Wave[26:03] - Why Purple Wave believes in no-reserve auctions[34:27] - Helping people make big decisions[47:09] - How Aaron got into the auction business[59:04] - Final words from Machinery PeteMachinery Pete was founded in 1989 and has grown from its humble beginnings to a full-fledged marketplace for farming equipment. Greg Peterson, founder and host, has also released Machinery Pete content across platforms including YouTube with his long-running Machinery Pete TV show.If you'd like to receive new episodes as they're published, please subscribe to the Machinery Pete Podcast in Apple Podcasts, Google Podcasts, Spotify or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show.

Machinery Pete catches up with Kurt Aumann, owner of Aumann Vintage Power in Nokomis, IL. Kurt has been one of the foremost auctioneers in the vintage tractor, farm memorabilia, pedal tractors, toy tractors and farm signs space for decades. Kurt and Pete talk about Aumann Vintage Power 5-Day Annual Fall Auction Oct. 22-26 plus the 14 collector auctions they have coming up Oct. 27 – Dec. 3, 2023.[:40] - Machinery Pete’s intro, latest market update[5:48] - Interview with Kurt Aumann begins[10:00] - About the items in the sale[14:56] - Connecting with people and adapting to online-only auctions [19:09] - What is the rarest tractor Kurt has seen?[29:35] - State of collector market[38:00] - Connection between farmer & tractor[50:34] - Final words from Machinery PeteMachinery Pete was founded in 1989 and has grown from its humble beginnings to a full-fledged marketplace for farming equipment. Greg Peterson, founder and host, has also released Machinery Pete content across platforms including YouTube with his long-running Machinery Pete TV show.If you'd like to receive new episodes as they're published, please subscribe to the Machinery Pete Podcast in Apple Podcasts, Google Podcasts, Spotify or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show. 

Machinery Pete talks about the heavy construction equipment market with Andrew and Mike LeMaster with Black Star, an emerging company with a growing footprint across the U.S. helping folks sell, find and appraise all types of heavy construction equipment. The company aims for a more personal touch in the buying/selling process and utilizes innovative new means to get the word out on their current $27M of heavy equipment listings for sale. www.blackstaraca.com[:40] - Machinery Pete’s intro, setting up today’s topic[3:22] - Interview with Anndrew and Mike LeMaster begins[8:25] - Black Star’s footprint & knowledgeable team[13:59] - Equipment catalog [19:30] - What does a piece of equipment mean to that owner?[25:00] - Working analytically post-pandemic[31:15] - What equipment is in demand in 2023?[37:17] - Items currently for sale[43:14] - Final words from Machinery PeteMachinery Pete was founded in 1989 and has grown from its humble beginnings to a full-fledged marketplace for farming equipment. Greg Peterson, founder and host, has also released Machinery Pete content across platforms including YouTube with his long-running Machinery Pete TV show.If you'd like to receive new episodes as they're published, please subscribe to the Machinery Pete Podcast in Apple Podcasts, Google Podcasts, Spotify or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show. 

Antique tractors aren’t the only thing being restored on the farm today. Machinery Pete talks with Jeremiah Fairbanks, General Manager of Repair & Renovation with Morton Buildings about the company’s storied 120-year history dating back to 1903, how it transitioned a few years to a 100% employee-owned company and specifically about the company’s strong and growing focus on the Repair & Renovation aspect of its business.[:40] - Machinery Pete’s intro, equipment market update[4:25] - How a LinkedIn message led to this episode’s conversation[5:44] - Interview with Jeremiah Fairbanks begins[8:13] - Repair/renovation process, history of Morton Buildings[16:43] - Jeremiah’s construction background[20:13] - Why people renovate and how the process works[27:18] - Building trends, supply chain challenges[35:25] - Student opportunities with Morton Buildings[40:28] - Final words from Machinery PeteMachinery Pete was founded in 1989 and has grown from its humble beginnings to a full-fledged marketplace for farming equipment. Greg Peterson, founder and host, has also released Machinery Pete content across platforms including YouTube with his long-running Machinery Pete TV show.If you'd like to receive new episodes as they're published, please subscribe to the Machinery Pete Podcast in Apple Podcasts, Google Podcasts, Spotify or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show. 

With March Madness coming to a head with the NCAA Final Four this week, Machinery Pete talks with Jess Settles – farmer from Winfield, IA and Iowa Hawkeye basketball legend, also TV college basketball analyst on ESPN, Big Ten Network and Fox Sports. Settles talks about growing up on the farm in Winfield, IA, his family’s deep farming roots, his basketball journey that carried him to the University of Iowa and star status in the mid 1990’s. After his playing days ended, Settles transitioned to TV work. Farming and basketball stories and memories flow in this Pete and Jess conversation.[:35] - Machinery Pete’s intro, equipment market update[5:33] - Interview with Jess Settles begins[8:10] - Jess’s early Iowa days, growing up on the farm[16:26] - Graduation from high school, college basketball career[25:40] - Battling injuries[32:02] - Post career days; coaching and TV[40:18] - Modern basketball[50:13] - New strategies in farming and basketball[1:01:30] - Final words from Machinery PeteMachinery Pete was founded in 1989 and has grown from its humble beginnings to a full-fledged marketplace for farming equipment. Greg Peterson, founder and host, has also released Machinery Pete content across platforms including YouTube with his long-running Machinery Pete TV show.If you'd like to receive new episodes as they're published, please subscribe to the Machinery Pete Podcast in Apple Podcasts, Google Podcasts, Spotify or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show. 

Machinery Pete looks back over his 33+ year career and pulls together his best tips and advice to young farmers. Pete also talks with Zach Hiner, Jim Huff and John Probasco with the new auction firm Merit Auctions of Fort Madison, IA. Hiner, Huff and Probasco have over 100 years experience in the auction biz. They already have 10 auctions on the books, including a huge Feb. 28, 2023 online sale for Ag Pro, a large John Deere dealer in Ohio, Georgia and the southeast U.S.[:40] - Machinery Pete’s intro, episode topics[3:20] - Equipment market update[6:23] - Recent auction recaps[11:55] - Advice for young farmers: theory of opposites, eye contact[29:44] - Buying opportunity in tough market, Rule of 12[38:25] - Interview with Zach, Jim and John begins[42:53] - Upcoming sale closing Feb. 28[51:33] - Market advice from the Zach, Jim and John[1:06] - Final words from Machinery PeteMachinery Pete was founded in 1989 and has grown from its humble beginnings to a full-fledged marketplace for farming equipment. Greg Peterson, founder and host, has also released Machinery Pete content across platforms including YouTube with his long-running Machinery Pete TV show.If you'd like to receive new episodes as they're published, please subscribe to the Machinery Pete Podcast in Apple Podcasts, Google Podcasts, Spotify or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show. 

The story of North Prairie Butchery in Faulkton, SD, the dream project coming into reality of Troy Hadrick, a 5th generation cattle rancher in northeast South Dakota. Hadrick recently received a $2.2M grant from the Meat and Poultry Processing Expansion Program to build a 25/day head beef/pork/bison processing facility in Faulkton, SD to help expand our country’s pinched meat and poultry processing capacity and increase diversity in our nation’s food supply chain. Momentum is building quickly for the needed project.[:35] - Machinery Pete’s intro, teeing up today’s interview[3:42] - Interview with Troy begins[4:23] - Troy’s project overview, expanding on his ranching business[12:45] - Project timeline from construction to production[17:23] - Faulkton, SD - a forward thinking community[20:19] - Creating jobs, retail impact, customer feedback[29:30] - Grant award process[34:12] - Troy’s insight on the bison market[36:06] - Final words from Machinery PeteMachinery Pete was founded in 1989 and has grown from its humble beginnings to a full-fledged marketplace for farming equipment. Greg Peterson, founder and host, has also released Machinery Pete content across platforms including YouTube with his long-running Machinery Pete TV show.If you'd like to receive new episodes as they're published, please subscribe to the Machinery Pete Podcast in Apple Podcasts, Google Podcasts, Spotify or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show.

Machinery Pete visits with Gary and Julie Peterson in their farm shop in Beresford, SD in advance of their upcoming, highly-anticipated John Deere collector tractor auction November 26, 2022 in Lennox, SD by Westra Auction Land & Realty featuring the Peterson’s (6) rare open station 40 and 50 Series John Deere tractors. Gary and Julie share the story of their farming career and talk about how their tractor collecting got started, what drove it and how they are feeling as sale day approaches.[:34] - Machinery Pete’s intro, latest auction prices[4:45] - Previewing the Petersons’ auction[10:14] - Conversation with Gary and Julie begins[13:30] - How Gary and Julie met, growing up on family farms[17:55] - Farming life in the 1980s[20:24] - Advice for young farmers[26:15] - Gary’s retirement and getting into collecting[30:18] - Beginnings of the collection, what’s for sale and emotions of selling[37:43] - Final words from Machinery PeteMachinery Pete was founded in 1989 and has grown from its humble beginnings to a full-fledged marketplace for farming equipment. Greg Peterson, founder and host, has also released Machinery Pete content across platforms including YouTube with his long-running Machinery Pete TV show.If you'd like to receive new episodes as they're published, please subscribe to the Machinery Pete Podcast in Apple Podcasts, Google Podcasts, Spotify or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show.