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Old Iron vs. Scrap Iron

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e-manhunt

04-07-2008 10:13:40

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I was at an auction and thought the prices were a bit high on everything from the tracotrs to implements, to odds and ends. My buddy went back the next day to pick up his treasures: The auctioneer confirmed that prices were up, mostly due to guys buying everything and anything for scrap metal resale. Just talk? I hate to think some of those older ones were destined for the melting pot.

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TxFarmallFan

04-08-2008 08:58:57

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Re: Old Iron vs. Scrap Iron in reply to e-manhunt, 04-07-2008 10:13:40

It is sad to say, but Im sure its true. It is around here. See alot of good equipment go for scrap.

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dhermesc

04-07-2008 13:30:27

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Re: Old Iron vs. Scrap Iron in reply to e-manhunt, 04-07-2008 10:13:40

Thats why any full size car or PU is worth $400 minimum - dead or alive. Farm machinery is even better since there is less waste and its mostly "clean" once you pull the tires off.

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mkirsch

04-07-2008 14:49:42

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Re: Old Iron vs. Scrap Iron in reply to dhermesc, 04-07-2008 13:30:27

I'd have to think that USABLE equipment prices are up because new equipment prices are up. Even if you end up sinking $15,000 into an old '06, '56, or '66 series tractor, you're still way ahead of the game compared to one of those new Maxxums. Implements are even worse...

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edward_m

04-07-2008 12:29:41

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Re: Old Iron vs. Scrap Iron in reply to e-manhunt, 04-07-2008 10:13:40

Kinda hard to blame national leadership for rising steel prices when its the free market that's driving the price (supply and demand, remember?). Of course, the USA could decide to list steel as a strategic material, and limit sales overseas, but I don't see that happening. Weak enough dollar as it is.

I agree its sad to see some of the old iron go, especially when quite a bit is repairable. And its just going to drive auction prices up and up for used equipment. Not just the collectibles: an awful lot of pretty new equipment is holding its value, if not rising slightly in the used market.

Guess that makes my old H's worth a lot more, ya think?

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Phil Munson NY

04-07-2008 11:40:14

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Re: Old Iron vs. Scrap Iron in reply to e-manhunt, 04-07-2008 10:13:40

The weak dollar, coupled with the new strength of China's economy, is driving the scrap market. This time of year the price usually crashes and the price just went up a SECOND time in the month of April. That is pretty much unheard of. Great national leadership we got! best, Yeoman

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GeneMO

04-07-2008 11:28:44

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Re: Old Iron vs. Scrap Iron in reply to e-manhunt, 04-07-2008 10:13:40

This has been going on for several years. I took a load in a few weeks ago and compared it to a load I took in 2006. The price had quadrupled in that time, and it's still going up.

There are guys around here going to every farmer they can find and offering to "clean up" their place. Offering 1/3. Lots of my neighbors are taking them up on the offer.

Lots of antique stuff is going. Of course we had the same thing in the forty's, scrap metal drives for the war.

Guess it's just the way things are.

Gene

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