Cheffins has announced sales of over £25 million in the first quarter of 2023, across both its Cambridge monthly sales and on-site auctions. This is more than double the total sold in the same period in 2022, which was £12.4 million.
The three Cambridge sales in January, February and March grossed over £11.2 million, an uplift of 20.5% against the same period in 2022. Overseas purchases made 35% of buyers at each sale, with top countries for export including Ireland, Romania, Sudan, Lithuania and Poland.
Nine on-site sales took place in the first quarter, comprising both modern and vintage machinery. The highest-grossing sale was held on behalf of Ripon Farm Services, the most successful single vendor auction in Cheffins’ history.
Top selling items so far this year have included a 2021 John Deere 9800i forage harvester, selling for £230,000; a 2017 Claas Jaguar 980 forage harvester, achieving £125,000; a 2020 JCB 435S loading shovel, also selling for £125,000; a 2015 Case Quadtrac 580 which made £119,000; a 2018 John Deere 8600 forage harvester, selling for £115,000 and a 2019 Fendt 724 Vario tractor which made £111,000.
Oliver Godfrey, head of the Machinery Division at Cheffins said: “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.
“Whilst we are still living in uncertain times with the combination of the war in Ukraine, rising interest rates and the cost-of-living crisis, well-maintained agricultural and plant machinery is continuing to see growing prices which has pushed up the average lot price achieved at each of the Cheffins sales. As the pound remains weak against the Euro, 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.”
Cheffins’ next sale will be held on the 15th of May at the Cheffins Machinery Sale Ground, Cambridgeshire. For more information go to www.cheffins.co.uk