GALLERY: See what machinery sold for at Europe's largest agricultural auction
Published 14/11/2016 | 16:00
The largest agricultural auction in Europe, Cheffins, saw the highest grossing sale of second-hand machinery last week with sales totalling £3.5m at its sale ground in Sutton, Cambridgeshire. This is a lift in sales of over £1m 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.
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.
The Agricultural Engineers Association (AEA), reported 2016 tractor registrations are down by 11pc, 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 50pc 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 weakening pound also continued to attract foreign purchasers and November’s sale saw the return of a number of mainland European buyers who haven’t been present over the previous two years.