DEMAND FOR SECOND HAND MACHINERY CONTINUES

Agricultural machinery auctioneers Cheffins has released its 2023 figures showing total sales of £71m, a £23m increase in machinery and plant sales compared to the previous year.

In a statement the company said, "Demand for top quality, low-hour machinery remained strong and good examples were sold at a premium as buyers looked to the second-hand market for sound financial investments and a significant saving on buying new. The Cheffins team conducted 51 sales during the year, which consisted of 34 on-site farm or dealer dispersals, 12 monthly Cambridge Monthly Machinery Auctions and five Vintage sales. This total remained unchanged from 2022."
 
Oliver Godfrey, director, and head of the machinery division at Cheffins explained the increase, saying, “Despite supply chains returning to normality from the past couple of years, new machinery prices continue to be high, which is adding caution to the market, especially when many arable growers have struggled to get winter crops established. The export market has also returned in full force over the past 12 months, with machines sold and shipped worldwide from both our monthly machinery sales hosted at Sutton and at the on-site sales throughout the country.”
 
The company said that sale highlights for last year included the dealer dispersal for Ripon Farm Services in Yorkshire, which saw over £5m of machinery sell in one day. The well-known dealer enlisted Cheffins to sell various stock items from its 11 depots with machines from foragers and feeder wagons going under the hammer. The Staines Hire UK auction also saw a fleet of late registered, low-houred John Deere tractors offered to the market with high prices being achieved. Auctions took place from Northumberland to Somerset with strong UK interest as well as buyers from throughout the EU.
  
Oliver continued, “There is still a huge demand for low-hour, high-spec, well-maintained second-hand equipment that has come directly from farm. Buyers are prepared to pay a premium for these items as they represent a sound investment and a considerable saving over a new machine.

"2024 has started at the same pace we saw in 2023, with strong prices being paid for good-quality, second-hand machinery and we have several big sales already in the pipeline that we are excited to bring to market."