rrlund: I if i remember correctly you live in upper New York. I am willing to bet that the farming community is shrinking fast in your area. That is making the value of the lesser stuff fall like a rock. Here in Iowa we still have a lot of smaller farmers. They put a floor under the cheaper used stuff. They are still users of the stuff and will buy it to use.
Plus you have had several tough years for farm income in your area too. You have not had good weather for a while if my memory is correct. This will really drop the price of stuff too.
There are scrappers at the sales here too but they usually only get the true junky stuff. Most of the equipment will bring much more than its weight as scrap.
The high price of newer equipment has kept a floor under the used stuff here. That disk you talked about would have broke 20K here easy. I saw a good IH 496 25 foot disk bring $22,500 just this week. The owner told me after the sale he had only gave $12,000 for it new twenty years ago. It was in like new shape and a new one like it is close to 35K now.
Equipment is kind of like land in that the location makes a big difference in values.