185 goes for $ 17,500

at least there's no dang 'computer' in it !!!!

as a compare...

I want to buy a 97-03 Ford F150, southern...will pay 50% of what a 2023 'equal' will cost.

Wither you like it or not you have put a inflation factor in the equation.  

A friend bought a new, New Holland crawler tractor for use in a vineyard. At about the same time on the antique Cat forum, someone had a price of a brand new D2 crawler back years ago. Using google for the inflation factor, I was surprised the cost was very close to the same. So in general, you are very correct that old ones are overpriced. In my example the NH tractor has 3pt hitch 3 hydraulic valves, and twice the horsepower and a PTO. Even though with the same weight and square inches of track on the ground it will not handle bigger tillage tools. But the  "fix it again Tony" (Fiat built) will not last for as many hours of use as the old Cat. So if you don't have use for the added accouterments of the new machine, you can say the old one is not such a bad buy.

But who knows how many  at a auction have given any of that real though before raising their hand.

Bunch of factors involved at this auction - broad tractor brand selections, solid advertising, great auctioneer energy, wonderful bid runners assisting auctioneer ~ all components of a well attended auction either in person on sale day or online. 

Try watching the video again, but pay attention to the boy bidding on the Oliver 2255 with Cat 3208. That boy was driven.  Experience notices his seriousness, real quick. He was not stopping for any reason(s) other bidders might have understood... So who was foolishly trying to outbid him? Other young person(s)?? Adults that always wanted this particular model? His brother standing next to him was turning his head from auctioneer to him on every number.  Yeah, the brother was all about it too.  Watch the 15 year old's hand reach for his bid number card near the end of bidding. There's a big smile on his face. Maybe cause a prior Oliver 2255 no cab sold for $30K. About every head is turned from most of the attending audience.  I imagine that audience was wondering just like us on this forum ~ why is that bringing so much money??? Be interesting to know what was going on inside that 15 year olds mind that he'd spend $25K that quickly?  Was he bidding with his money? Or someone else's dollars? We'll probably never know.

Anyway, Thanks Never Green for sharing the video link. I enjoyed viewing it & think that Oliver 2255's bidding details help explain some of the $17.5K AC 185.