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Greg Peterson

Founder, Machinery Pete, Machinery Pete

Search every verified Greg Peterson interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Greg Peterson, known as Machinery Pete, has been reporting a notable rise in used farm equipment auction prices since mid-June 2026, a trend he attributes to shrinking supplies of late-model equipment and rising commodity prices. He has cited data showing an 84% drop in one- and two-year-old units sold at auction through mid-September despite a 29% increase in the number of auctions, and he has described this market dynamic as unprecedented in his roughly 37 years of tracking prices. Peterson has stated that good-condition used equipment of all ages is trending upward in value, and he has pointed to specific examples, including record-setting sales of low-hour John Deere tractors. He has also said that, for the first time he can recall, used values are climbing while new equipment sales continue to decline, and he has advised farmers considering purchases to act proactively, as he expects prices to move higher into the end of the year. Peterson has discussed how high new equipment prices and rising diesel costs have further cemented farmer preference for the used market. He has noted that dealers, who were previously focused on clearing used lots, are now reporting that they wish they had more good used equipment. In interviews, he has attributed the market's strength to factors such as lower new equipment production cutting future used supply, and he has expressed uncertainty about how long the trend will last. He has also emphasized the importance of personal relationships and storytelling in the equipment business, drawing on his experience building his auction-price data business since 1989.

Recent appearances

Verified interview transcripts

Notable quotes

“This is the what's different right now is what I said before about the number of one-year-old sprayers at auction down 69.3% this year. That funnel is tightening because the sales of new just are falling farther and farther. No one's buying new, which is fine except that one, two, three years down the road now, we've got a used market none of us have ever seen before, right? You've got fewer farmers, you got fewer de”

“The auction front, I mean, it's the canary in the coal mine. You put any asset up for sale. It doesn't really matter if it's a million dollar thing or if it's 20 bucks. I mean, the market decides what it's worth and it's never wrong. We can argue about the price, but the price is the price. So, I guess what I'm seeing, Clinton, is just again because of some of these factors kind of swirling and lack of solid footing.”

“Well, that's the game of chicken that we're we're actually just starting to tiptoe into the game of chicken and I think people are realizing it. And on the manufacturer side, it's I mean, it's it was stated uh was a deer exec doing an interview with Ty Morgan. It was it was very good interview, but said we can't lower prices because that would ding our customers balance sheets on the use side. then there's validity t”

“Yeah, instantaneous result, Andrew. Uh in fact, prior to the move up in corn and bean prices uh kind of after crop tour, uh we we'd already been seeing auction prices strengthening. It is uh isolated to good condition used equipment, which I mean I guess always is the case. there's always stronger performance there, but basically middle of June we started to see a jump. Um, and it was totally not because farmers were”

“People are aware of it. I'm very much aware of it, but I would say it has not affected the pricing on the good condition used equipment just for the simple fact that the rising diesel prices in general have further cemented farmer mindset towards the used market and they were it already was away from the new market. Again, you can look at the AM numbers on sales of all horsepower tractors and combines. They just keep”

“One stat that I shared at Moving Iron with the dealers and I saw their heads kind of nodding, it made sense to them, is that here in 2026, despite the fact the number of auctions is up 29%, so you'd think there'd be more of all types of equipment hitting the auction block, we've seen an 84% drop in the number of one and two-year-old units sold at auction through like mid-September 26. Despite the 29% more auctions. T”

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