Look at these prices

Capricious · Nov 9, 2015

Was: $2.7m | Now: $46,000: Caterpillar D11N crawler tractor

What An Industrial Depression Looks Like: Photos From An Australian Heavy-Machinery Auction | Zero Hedge

varmint · Nov 9, 2015

Yah, but freight to get it ole Missouri would be a serious hit. Still...

DuckSlayer1017 · Nov 9, 2015

That sure would make the driveway easy to plow:laughing:

MinnesotaEric · Nov 9, 2015

Capricious said:
Was: $2.7m | Now: $46,000: Caterpillar D11N crawler tractor

View attachment 446761

What An Industrial Depression Looks Like: Photos From An Australian Heavy-Machinery Auction | Zero Hedge

Commodity prices increase with population expansion until capacity catches up and prices stabilize. If demand drops, then commodity pricing drops and with it demand for heavy equipment. Commodity exporting nations like Brazil, Canada, Australia and so forth are all in a recession right now due to decreased demand and extra capacity to produce.

aczlan · Nov 9, 2015

Capricious said:
Was: $2.7m | Now: $46,000: Caterpillar D11N crawler tractor

View attachment 446761

What An Industrial Depression Looks Like: Photos From An Australian Heavy-Machinery Auction | Zero Hedge

From one of the comments on the site:

Take those numbers with a grain of salt. Mining equipment runs 24/7 and is not like equipment that comes out of construction companies. It is bascially throw away junk not worth rebuilding in 5-7 years of use.
True auction sales of good construction equipment has seen a 30% collapse in values from early 2014.

Aaron Z

Industrial Toys · Nov 9, 2015

Price out a tranny rebuild on one of those. The whole picture will come into focus quite quickly.

varmint · Nov 10, 2015

That reminds me... my brother worked for Caterpillar in the early 80's, at the Lafayette, Indiana plant where they were building their largest 12 cyl. diesel engines. Most went to offshore drill rigs, for power. After 12,000 hours, they would drain the oil and push them over the side.