Cheffins reports sales worth over £5 million at February auction
15th March 2023
Auctioneers at Cheffins recently hosted one of the most successful monthly auction sales of second-hand machinery in the world, selling over £5 million-worth of farming equipment at the Cambridge
Auctioneers at Cheffins recently hosted one of the most successful monthly auction sales of second-hand machinery in the world, selling over £5 million-worth of farming equipment at the Cambridge monthly Machinery Sale on 6th February 2023.
The company reported a 40% increase in sales compared to February 2022, where total sales came to £3.8 million. Moreover, for the second consecutive months, around 50% of lots were sold to overseas buyers, attending from Australia, Canada, South Africa, Ghana, Egypt, the Middle East and throughout the UK and Europe.
Top sales of the auction included a 2003 John Deere 9520 which sold for £90,500; a 2019 John Deere 6175R which made £80,000; a Case Puma 240 CVX which achieved £72,000 and a Cat MTC875E which made £72,000.
Commenting on the event, Joe Page, director at Cheffins, said: “This is the most successful February auction we have hosted in the last five years, as a combination of the return of the export market and a particularly good quality consignment of stock helped to push up prices.
“Since October 2022, we have seen a marked increase in the number of sales to overseas buyers, as many have looked to make the most of the weakening pound. This, combined with a shortage of stock and long lead times for new machinery, has ensured that UK buyers are competing with purchasers the world over for some of the best second-hand machinery on offer.”
The sales were also facilitated by overseas buyers becoming more confident in the ability to import machinery, Mr Page added, due to post-Brexit rules and regulations becoming easier to navigate.
“Our ability at Cheffins to provide the correct certification and also offer a wash-down service, allows buyers to purchase machinery at our sales with confidence,” he noted.
To view the calendar for the monthly, on site and vintage sales, visit: https://www.cheffins.co.uk/machinery-vintage-auctions.htm
For more information, please visit www.cheffins.co.uk, or call Cheffins auctioneers on 01353 777767.
