The export market’s return in “full” force this autumn, as buyers “look to make the most of the weakening pound”, has boosted machinery sales.
Cheffins handled the sale of over £3.2 million (circa €3.65m) worth of machinery at its Cambridge monthly machinery auction earlier this month.
This was its highest-grossing monthly machinery sale since last February, which saw a gross of £3.8 million.
Its most recent sale – which took place on Monday, November 7th – saw around 2,000 lots go under the hammer.
Overseas buyers acquired some 50% of lots as over 20 different countries made their presence felt.
Sales were made to buyers from Ireland, Sudan, Lebanon, Cyprus, Kenya, Poland, Romania, Slovenia, the Czech Republic, Bulgaria, France, Spain, Netherlands, Lithuania, Denmark, Austria, Greece, Portugal, and Estonia.
According to a spokesperson, straight-from-farm machinery, especially tractors were “consistently sought after”.
- A direct-from-farm, 2011 John Deere 7930 with just over 4200 hours on the clock – sold to a Canadian buyer for £62,000;
- 2012 John Deere 6330, which came direct from farm – £28,500;
- 2019 Claas 830 sold for £57,000 to a Dutch purchaser.
The spokesperson reported that prices were also “strong” in the plant and implements categories.
Some highlight prices:
- 2019 JCB 3CX backhoe loader – sold to Irish buyer for £50,000;
- 2016 Mercedes Actros 3240 lorry – £35,000;
- A pair of 2008 Neuson 6001s with only 1200 hours on the clock sold for over £12,000 apiece.
Joe Page, director at Cheffins Machinery Sales, reported that, all in all, trade was “strong” across all areas of the sale.
Direct from farm machinery, in particular, earned premium prices.
He stated that Cheffins has taken “great” care to match customers’ requirements, which resulted in a “strong” international trade.
Claas tractors were common amongst Eastern European buyers, while John Deere examples were a popular choice for Spanish and Portuguese customers.
He cited supply chain issues as the primary driver of growing prices for quality second-hand machinery.
Long lead times and backlogs have delayed trade-ins for farmers and caused stock levels to take what he described as “a nosedive”.
As a result, he stated, this has generated greater competition in the market.
In turn, this ensured that domestic farmers, contractors, or exporters “quickly” snapped up all “quality” ex-farm kits at this auction.