Auctioneers Cheffins sold over £25m-worth of farm machinery during the first quarter of this year. This is double the figure for the same period in 2022.
These figures were achieved at three of its regular, monthly sales and nine on-site auctions. Seven and a half thousand lots of second-hand agricultural machinery, plant, implements and spares were offered.
2017 Claas 980 Jaguar forage harvester – £125,000
The three monthly auctions in January, February and March, grossed over £11.2 million, 20.5 per cent higher than for sales in the first quarter of 2022. Around 35 per cent of machinery sold was exported and Ireland, Romania, Sudan, Lithuania and Poland were amongst the top importers.
Nine on-site sales took place across the UK in the first quarter of the year, incorporating both modern and vintage machinery.
2020 JCB 435S loading shovel – £125,000
Oliver Godfrey, Head of the Machinery Division at Cheffins says: ‘The combination of increasing costs for new machinery, coupled with long lead times, has ensured that both end-users and trade buyers have had to be prepared to pay higher prices for good-quality second-hand machinery.
‘The pound remains weak against the Euro and the export market came back with a bang in the first quarter of this year as overseas buyers become increasingly confident in the new rules and regulations for machinery export. Global supply chains are continuing to struggle to build new kit as quickly as is needed, and this has left farmers and contractors little choice but to turn to second hand opportunities. Similarly, on site sales in the past three months for farmers, contractors and machinery dealers have increased in regularity and we have seen multiple sales gross seven figure sums as we offer a hassle-free solution to dispose of surplus equipment.’
2019 Fendt 724 Vario tractor – £111,000
The next monthly sale will be on the 15th May, at Cheffins Machinery Sale Ground in Ely, Cambridgeshire.
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