Steffes Group, engaged in the business of selling land and the equipment to farm it, held their traditional AgIron auction Wednesday, November 29 at the Red River Valley Fairgrounds in West Fargo, North Dakota. The auction commenced at 10:00 AM sharp and soon 4 auction rings were engaged in selling over 800 lots with the auction completed by 3:45 PM.
Despite warm temps, the North Dakota wind blew more than 40 miles an hour! Over 700 registered bidders were on-site joined by an additional 1,321 online bidders participating at various locations (undoubtedly where there was less wind). Overall, 22 states were represented, both live and online, as well as Canada and Mexico, with 22% of total auction proceeds going to internet bidders.
Overall, prices seemed stable with tractors being the most sought after along with some strong tillage pricing. Combines, despite being off-season, were sought after, mostly from operators looking to update, competing with dealers looking to supply their inventories before year end. Trucks were disappointing except on the older, well-cared for models which show strong demand probably based on new requirements for logbooks and of course, emissions.
AgWeek TV appeared with their host, Shawna Olson, reporting on trends and market conditions. Shawna also interviewed Scott Steffes, president of Steffes Group, looking for tips and input on what it takes to buy at auction. Click the link below to view the segment that aired on Saturday, December 2.
If you missed this event please join us either live or online at the following upcoming auction events!