Cheffins holds most successful agricultural auction yet, selling £3.5million worth of second-hand machinery
PUBLISHED: 09:39 11 November 2016 | UPDATED: 09:39 11 November 2016
Cheffins held its most successful agricultural auction yet on Monday, selling £3.5million worth of second-hand machinery at its Sutton grounds.
Compared to November 2015, it totalled £1 million more than the compared to November last year.
The most expensive tractors were purchased by UK dealers who are reporting a shortage of used stock due to a decrease in trade-ins from farmers.
A spokesman for Cheffins said: “Against a challenging agricultural climate, dealers are reporting that farmers are turning to second-hand stock rather than purchasing new machines and this was reflected in the sales results on Monday.
“The Agricultural Engineers Association (AEA) reported 2016 tractor registrations are down by 11 per cent which illustrates the decrease in new tractor purchases.
“As farmers continue to extend their replacement policies, rather than purchasing new, the second-hand trade has continued to grow. Coupled with significant increases in manufacturer’s prices, quality second-hand stock is becoming increasingly attractive.”
UK dealers accounted for over 50 per cent of deals at the November sale. The highest ticket prices included; a John Deere 6210R which sold for £54,800; £50,500 for a John Deere 6125R and £46,000 for a Fendt 828 all of which sold to UK dealers.
The sale also saw an increase in sales of tractors direct from farms.
Bill Pepper, director of Cheffins, said: “With sales grossing over a third on November’s sale last year, we can really see that both the UK and export market for second-hand machinery is booming.
“The cocktail of rising prices for new tractors, lack of new tractor registrations, a shortage of stock for dealers and a drop in trade-ins has really brought the UK dealers back to our market.”
The next sale will be on December 5 at Cheffins Machinery Sale Ground, Sutton, Ely, CB6 2QT.
For more information visit www.cheffins.co.uk