Farming News - Cheffins Monthly Machinery Sales top £7.5m in Q1 2021
Cheffins Monthly Machinery Sales top £7.5m in Q1 2021
Cheffins, which conducts the largest monthly sale of second-hand tractors and agricultural machinery in the world, has sold over £7,500,000-worth of machinery in Q1 2021 at the Cambridge Machinery Sales at the firm’s dedicated site near Ely, Cambridgeshire.
At the Cambridge Machinery Saleground, gross sales hit £7.5m in the quarter. With over 20 per cent of stock sold to overseas, the most active countries buying at the monthly sales include Ireland, Poland, Sudan, Romania and France, following UK-based dealers and private purchasers.
Each of the auctions in the quarter achieved strong results, with January grossing £2,000,000, February £2,700,000 and March £3,000,000.
Joe Page, Cheffins comments: “A lack of stock has been what has characterised results for the first quarter of this year. With the number of items on offer around 25 per cent lower than Q1 2020, this lack of availability has ensured that prices have remained high for tractors and other second-hand machinery. However, the appetite for second-hand kit has continued unabated despite both Brexit and the coronavirus outbreak and export sales have remained healthy to countries both within the EU and further afield.
"Whilst Brexit brought with it a golden touch for machinery values over the past few months as overseas buyers looked to pick up bargains in the wake of the weakening sterling, it has now created additional complications for export. The DEFRA cleaning down directive has had its challenges, however we are quickly starting to overcome these and have continued to be able to service the needs of our EU-based buyers.
"Whilst coronavirus has wreaked havoc on other parts of the economy, the second-hand machinery sales have not been so keenly affected. As farming continued as ‘business as usual’ throughout the pandemic, demand for second-hand machinery remained resilient, and with all of our sales being offered online, we barely saw a decline in business throughout 2020 and the first quarter of 2021.”
The highest grossing lot for Q1 2021 was a Fendt 936 Profi Plus Vario 4wd tractor which sold for £60,000, followed by a 2015 John Deere 6195R tractor which sold for £54,000. Other highlights include an Amazone Panterra 36m boom sprayer which made £52,000 and a John Deere 8530 which sold for £52,000.
The sale will take place on the 12th April, at Cheffins Machinery Sale Ground, Sutton, Ely, CB6 2QT. For more information, please visit www.cheffins.co.uk, or call Cheffins auctioneers on 01353 777767