Agricultural machinery auctioneers Cheffins produced a record year of sales in 2o23 achieving a £23 million increase on the year.
The firm saw its total second-hand machinery and plant sales for the year reach £71 million from 51 auctions.
Oliver Godfrey, director and head of the machinery division at Cheffins said: “Despite supply chains returning to normality from the past couple of years, new machinery prices continue to be high, which is adding caution to the market, especially when many arable growers have struggled to get winter crops established.
“The export market has also returned in full force over the past 12 months, with machines sold and shipped worldwide from both our monthly machinery sales hosted at Sutton and at the on-site sales throughout the country.”
Sale highlights included the dealer dispersal for Ripon Farm Services in Yorkshire, which saw over £5m of machinery sell in one day.
Standout lots during 2023 included a low-hour 2022 John Deere 6R125, which sold at £131,000 to a buyer from Poland, and a Massey Ferguson 20 Multi-Power that sold for three times its estimate reaching a record price of £31,500.
Oliver continued: “There is still a huge demand for low-hour, high-spec, well-maintained second-hand equipment that has come directly from farm. Buyers are prepared to pay a premium for these items as they represent a sound investment and a considerable saving over a new machine.”