In the sprawling world of American agriculture, where the hum of tractors and the clatter of combines define the rhythm of rural life, one name stands out as a beacon of trust and insight: Greg Peterson, better known as Machinery Pete. For over three decades, Peterson has carved a niche as the preeminent authority on used farm machinery sales and auctions, transforming a simple idea born in a Minnesota basement into a multimedia empire that informs, connects, and empowers farmers across North America. His journey—from a 23-year-old with a gut feeling to a dominant force in agricultural equipment valuation—offers a compelling narrative of persistence, innovation, and an unwavering commitment to the farming community. Today, through his work with Farm Journal, the Moving Iron Podcast, speaking engagements, and tireless auction reporting, Peterson continues to shape an industry that millions depend on for their livelihoods.
Origins: A Seed Planted in Benson, Minnesota
Greg Peterson’s story begins in Benson, Minnesota, a small town where the Chippewa River winds through a landscape of family farms and John Deere dealerships. Born into a family with deep roots in agriculture, Peterson was steeped in the machinery trade from an early age. His father, a third-generation owner of the local John Deere dealership in nearby Morris, represented a lineage that stretched back to the early 20th century in North Dakota. The Petersons weren’t just farmers or dealers—they were part of the machinery ecosystem, understanding the ebb and flow of equipment values as instinctively as they knew the seasons.
Yet, Greg didn’t initially set out to follow in his father’s footsteps. After graduating from college, he found himself at a crossroads in 1989, a time when the farm crisis of the 1980s had left rural America reeling. Banks were foreclosing on farms, and the need to appraise machinery values had never been more urgent. It was in this climate of uncertainty that Peterson’s father handed him a booklet—a quarterly report of recent equipment auction prices compiled by a banker in Morris. The banker was about to discontinue the effort, but Peterson’s father saw something more: an opportunity for his son to fill a gap that no one else had claimed.
At 23, Peterson was young, independent, and, by his own admission, “didn’t know much.” But he had a hunch—a belief that compiling and sharing auction data could provide clarity in a chaotic market. With no internet, no cell phones, and only a typewriter and a basement office in Rochester, Minnesota, he set to work. He began contacting auctioneers across the U.S. and Canada, collecting sale prices for tractors, combines, planters, and more. What started as a modest endeavor—typing up reports and mailing them to subscribers—would soon grow into Machinery Pete, a name that would become synonymous with used farm equipment expertise.
Building the Foundation: The Rise of Machinery Pete
The early years were a grind. Peterson juggled multiple jobs while painstakingly building a database of auction prices, a task that required persistence and a knack for networking. He reached out to regional auctioneers, dealers, and farmers, piecing together a patchwork of data that no one else had the vision or patience to assemble. By 1989, he had launched his first product: a printed compilation of auction prices, a resource that banks, lenders, and farmers quickly recognized as invaluable during a time of economic upheaval.
Peterson’s timing was fortuitous. The farm crisis had exposed a critical need for transparency in machinery valuation, and his reports offered a lifeline. Farmers facing liquidation could gauge what their equipment might fetch at auction, while buyers could make informed bids on used machinery. Banks, meanwhile, relied on his data to assess collateral values. What began as a niche service soon gained traction, and Machinery Pete’s reputation grew as a trusted source in an industry where trust was hard-won.
The advent of the internet in the late 1990s marked a turning point. In 2000, Peterson launched MachineryPete.com, bringing his database online and making it accessible to a broader audience. This wasn’t just a technological upgrade—it was a revolution. Suddenly, a farmer in Pennsylvania could bid on a tractor auctioned in Minnesota, and dealers could track market trends in real time. Peterson’s foresight in embracing digital tools broke down geographic barriers, amplifying the reach and impact of his work. As he later reflected in a 2019 Minnesota Soybean article, “Now as equipment has gotten so much more expensive, the internet really broke down any barriers.”
A Partnership with Farm Journal: Scaling the Vision
By 2014, Machinery Pete had become a household name among farmers, dealers, and auctioneers, boasting a database of over 500,000 auction prices and a network of 1,000 auctioneers, 600 ag lenders, and 2,000 implement dealers. That year, Farm Journal, a leading agricultural media company, recognized the potential of Peterson’s platform and partnered with him to elevate it further. The collaboration was a natural fit: Farm Journal brought its vast multimedia reach, while Peterson contributed his unparalleled expertise and data-driven insights.
The partnership turbocharged Machinery Pete’s growth. With Farm Journal’s backing, Peterson expanded into television with “Machinery Pete TV,” a half-hour show on RFD-TV that averages over 125,000 weekly viewers. The program takes viewers inside the world of farm equipment, featuring auction highlights, market trends, and interviews with farmers and dealers. It’s a blend of education and passion, reflecting Peterson’s belief that “machinery is a serious investment for farmers, and it’s at the heart of their farm operation.” The show’s success underscores his ability to connect with an audience that spans working farmers and machinery enthusiasts alike.
The Moving Iron Podcast: Conversations That Matter
Peterson’s influence extends beyond auctions and TV screens. Since 2017, he’s been a frequent guest and collaborator on the Moving Iron Podcast, hosted by Casey Seymour. The podcast has recently been acquired by Farm Journal and Peterson is now a regular contributor. The show is a staple for those in the farm equipment industry, dives deep into market trends, equipment values, and the economic forces shaping agriculture. Peterson’s appearances offer listeners a front-row seat to his analysis, blending hard data with storytelling honed over decades.
On the podcast, Peterson doesn’t just crunch numbers; he contextualizes them. In a September 2024 episode, he described the equipment market as “in major flux,” noting a 98% surge in auctions of late-model machinery through August, paired with plummeting prices for big-ticket items like John Deere X9 1100 combines (down from $725,000 to $458,000 on average). His ability to distill complex trends into actionable insights—delivered with a folksy charm—makes the podcast a must-listen for farmers and dealers navigating uncertain times. It’s also a testament to his adaptability, leveraging audio to reach an audience that might not pore over spreadsheets but still craves his expertise.
Speaking Engagements: The Voice of the Industry
Peterson’s presence isn’t confined to media. As a sought-after speaker, he crisscrosses the country, addressing farm shows, dealer conferences, and agribusiness events. His appearances—like his talk at the 2024 Big Iron Farm Show in West Fargo, North Dakota—draw crowds eager to hear his take on the used equipment market. With 35 years of experience, he commands attention not just for his data but for his ability to read the “tea leaves,” as he put it in a 2022 Agweek interview, anticipating shifts before they fully materialize.
At these engagements, Peterson often shares lessons from his journey, urging farmers to think long-term and build stronger ties with dealers. His advice is practical yet forward-looking, reflecting a philosophy he credits to his father: “Keep your head on a swivel.” It’s a mantra that’s guided him through decades of change, from the farm crisis to the supply chain disruptions of the 2020s, and one he imparts to audiences facing their own challenges.
Auction Reporting: The Pulse of the Market
At the heart of Peterson’s empire remains his relentless reporting on auctions. As of March 22, 2025, he continues to track sales across the U.S. and Canada, updating his database with every tractor, combine, and tillage tool that crosses the block. His posts on X—marking milestones like 35 years in business in November 2024—reveal a man still energized by the chase, still “floating down the Chippewa River, not knowing what the next story might be,” as he told Minnesota Soybean.
Recent reports highlight a market in transition. Auction volumes for 1- and 2-year-old equipment are up dramatically, yet prices for late-model tractors and combines have softened, a stark contrast to the record highs of 2022. Meanwhile, pre-DEF (pre-2010) machinery and livestock equipment like hay balers hold steady, reflecting shifting farmer priorities. Peterson’s coverage—via MachineryPete.com, Farm Journal columns, and social media—keeps farmers and dealers ahead of the curve, whether they’re selling to free up capital or buying to upgrade their fleets.
Why It Matters: The Lifeline of Auctions
Peterson’s work isn’t just about numbers; it’s about people. Auctions are a lifeline for farmers, a mechanism to unlock capital tied up in machinery or acquire used equipment when new models are scarce or unaffordable. In an era of rising input costs, volatile commodity prices, and supply chain woes, the used equipment market is more critical than ever. A farmer retiring in Kentucky might auction a tractor to fund their next chapter, while a grower in Iowa bids on it to replace a worn-out rig—Peterson’s data makes that transaction possible, transparent, and fair.
The stakes are high. Machinery represents one of the largest investments on a farm, often second only to land. For small and mid-sized operations, auctions can mean the difference between solvency and collapse. Peterson’s role as a steward of this space—tracking values, spotting trends, and amplifying access—ensures that farmers aren’t flying blind. His database, now a treasure trove of over half a million prices, is a public good, democratizing information in an industry where knowledge is power.
Moreover, his presence fills a void. While manufacturers and dealers focus on new equipment, Peterson champions the used market, a segment that’s often overlooked yet vital to rural economies. His multimedia reach—TV, podcasts, speaking, and digital—bridges generational gaps, serving both tech-savvy younger farmers and veterans who still prefer a handshake over a click. In a time of consolidation and uncertainty, having a figure like Peterson covering this space is not just important—it’s indispensable.
The Present and Beyond: A Legacy in Motion
As of March 22, 2025, Greg Peterson shows no signs of slowing down. He remains a whirlwind of activity, balancing Farm Journal projects, podcast appearances, speaking gigs, and auction reporting with the same tenacity that drove him at 23. His partnership with Farm Journal continues to evolve, with new initiatives like expanded auction coverage and data analytics on the horizon. The Moving Iron Podcast keeps him connected to industry insiders, while his speaking engagements cement his status as a thought leader.
Peterson’s legacy, though, isn’t just in the numbers or the platforms—it’s in the trust he’s earned. Farmers call him “Pete” like an old friend, and dealers lean on his insights like a compass. His journey from a basement typewriter to a national stage mirrors the resilience of the farmers he serves, a testament to what grit and vision can achieve. As he tweeted in November 2024, “Been amazing ride. Huge Thank You for all your help and support! Been A Joy. Every Day.”
In a world where agriculture faces unprecedented challenges, Greg Peterson stands as a steady hand, guiding an industry that feeds the nation. Machinery Pete isn’t just a business; it’s a mission, one that ensures the gears of rural America keep turning, one auction at a time.