A five-number summary including median, minimum, and maximum prices for each of the top selling round baler models is displayed above.
Key Takeaways for Decision Makers
BUYERS/SELLERS: While the average prices of several models may be similar, averages can mask a wide range of available prices, making it critical to consider factors like condition, usage, and location when valuing equipment.
In 2014, the most commonly reported age of round balers on the used market was 6 years. Balers manufactured during the 2008 model year represented 10.7% of units listed for sale. While 2007 and 2009 model years were also relatively common, distribution of age on market noticeably peaked at 6 years. For that reason, this analysis focuses on the most commonly sold round balers manufactured in 2008.
Because the number of years for which a given model is in production can impact its volume on the resale market, controlling for model year allows for a direct comparison between different models that would otherwise be misleading. For example, a model produced between 2009 and 2012 could be expected to have a lower unit volume on the used market than an equally popular model produced over a wider time span, such as 2005 to 2012. Differences in price can also be compared with greater confidence – as all of the 2008 balers have approximately the same age in years, age is not a factor that affects critical benchmarks.
Last year, the top 2008 round baler models by resale volume were:
- Deere 568
- New Holland BR7090
- Deere 468
- Case IH RB564
- Vermeer 605M
The Deere 568 was both the most commonly listed and the highest priced 2008 baler model. This model’s average price was 11% higher than the national average of $22,800. It also had the widest range of prices among the top five models. Half of all 568s on the market in 2014 were priced between $22,500 and $28,500, but the minimum and maximum prices were more extreme than for any other model. The sheer number of these units on the market likely accounts for the variability in pricing.
Both the New Holland BR7090 and Deere’s 468 had average prices that were only 1-2% below the national average. These two models also had similar price ranges ($22,400 and $21,100, respectively), although the 468 exhibited higher minimum and maximum prices. Of the two models, the BR7090 was far more common, as resale volume was 81% higher than that of the 468.
As illustrated in the boxplot, the RB564 manufactured by Case IH had the same median price as the Deere 568, yet its average price was about $1,300 less. This discrepancy is caused by a negatively skewed price distribution. Both the maximum and minimum prices are lower than those of the 568, which also brought the average price down.
Of the top five models, Vermeer’s 605M demonstrated the least variability in terms of price. Half of
605Ms on the used market were listed at prices between $20,000 and $23,900, an interquartile range of only $3,900. Compared to the $8,000-$9,000 ranges of similar models, this indicates more consistent pricing.