Auctioneer's Corner - Pefley's Farm Equipment, Inc.
Farm equipment and farmland auctions have been gaining popularity over the last decade for both buying and selling. Today we will introduce you to Pefley’s Farm Equipment, Inc. located in Largo, Indiana.
Farmers Hot Line: Let’s say I’m a bidder that is not familiar with your company, tell me about yourself.
Dave Pefley: Pefley’s Farm Equipment was started in 1955 by my parents Robert and Mary Jo Pefley. I joined the business in 1992. We specialize in clean, late model used machinery that is bought and sold worldwide on a daily basis. We also hold bi-monthly consignment auctions, on the 1st Thursday of every even-numbered month, selling all equipment involved in the agriculture industry.
Pefley’s Farm Equipment has used the Golden Rule as our guiding force in all business endeavors. We firmly believe that all customers should be treated how we would want to be treated. We have found that by following this business principle we have been able to grow and we also have many customers that will not buy anywhere but at Pefley’s.
Online auctions vs. In-person bidding—thoughts?
In my opinion there is nothing like actually seeing a piece of equipment in person, pictures don’t always tell the whole story of that particular piece of equipment. However, we pride ourselves in giving the most accurate descriptions and taking the most descriptive pictures in the industry. We see an increasing trend for online auctions and we are seeing a larger percentage of online buyers with each auction.
What were your “Top 5” popular pieces of equipment last quarter?
- Tractors
- Large grain combines
- Heads
- Planters
- Tillage Equipment
Do you see any trends in the type of equipment auctioned/bought?
Newer, quality used equipment is being offered at auction all the time. It is a buyer’s market.
What is the highest priced item auctioned in the last quarter?
2012 John Deere S690 Combine - $265,000
What is the highest count of one type of equipment in your auctions recently?
In August of 2013 we sold 117 late model combines at our annual Harvest auction.
If you could give someone attending an auction one tip what would it be?
Come early, and do your homework. Don’t get locked in on one particular model of anything. Keep your options open and buy the best piece of equipment for the best dollar.
What do you see as the “up & coming” type of equipment?
I don’t know about up and coming equipment but technology will continue to be the biggest driving factor in the equipment market.
How big of a roll does time-of-year play on sales? For example, Spring vs. Fall.
We hold bi-monthly auctions. Our best sales are in the winter and spring.
Any big upcoming auctions?
Pefley’s Farm Equipment will have a two-day Harvest and Consignment auction on August 7th and 8th. This auction will emphasize all the equipment those in the agriculture industry would want or need for the upcoming fall harvest – combines, grain and corn heads, grain carts, and such.
Anything else you would like to add?
Please feel free to browse our website anytime to see what equipment we have to offer, www.pefleys.com
