For years, conventional wisdom told us that spring was the natural time to auction farmland and farm machinery. But our founder, Bob Steffes, said after 60 years in the business that the right time for an auction is when you’re ready.
As we approach harvest, it’s worth stopping to consider whether fall may be the right time for you. If so, it’s a good idea to start planning for it now.
“If you’ve got machinery to sell, there are a lot of advantages to doing so right after the harvest. Machines that have been running tend to be in the best condition,” said Scott Steffes. “By contrast, machines that have been stored under sheds for the winter usually need attention before they can sell. You may have to take care of dead batteries, flat tires and other challenges that a hard winter can bring on,” he said.
Another major advantage of a fall auction is removing uncertainty about how much your land and machinery will bring. “Uncertainty makes it very hard to plan for the spring. By selling in the fall, you know how much you’ll get for your land or machinery. Not only that, but you have the cash in hand, which is always a plus,” said Scott.
Fall auctions appeal to buyers, too, because they can use the downtime to obtain and customize newly acquired machinery, fertilize, or install tiling for the upcoming season. “Many farmers have employees who are available to get this work done so the operation will have a head start on the spring, and they want to maximize the value of their time. Some buyers also enjoy getting the 179 benefits of buying in the current calendar year,” said Scott.
The best way to find out if it’s the right time for you to sell at auction is to contact a Steffes Group representative. All of their contact information is available here.