2023 marked as record year for second-hand machinery    

Demand for top-quality, low-hour machinery remained strong last year, marking a £23 million increase in sales in 2023, compared to the previous year. Buyers looked to the second-hand market for sound financial investments and a significant saving on buying new.   

The Cheffins team conducted 51 sales during the year, which consisted of 34 on-site farm or dealer dispersals, 12 monthly Cambridge monthly machinery auctions and five vintage sales. This total remained unchanged from 2022.  

Director and head of the machinery division at Cheffins, Oliver Godfrey, explained why 2023 experienced a large increase. He 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 

Sale highlights included the dealer dispersal for Ripon Farm Services in Yorkshire, which saw over £5 million of machinery sold in one day. The well-known dealer enlisted Cheffins to sell various stock items from its 11 depots, with machines from foragers and feeder wagons going under the hammer.  

The Staines Hire UK auction also saw a fleet of late registered, low-houred John Deere tractors offered to the market, with high prices being achieved. Auctions took place from Northumberland to Somerset, with strong UK interest as well as buyers from throughout the EU.  

Standout lots during 2023 included a low-houred 2022 John Deere 6R125, which sold very well at £131,000 to a buyer from Poland, and a Massey Ferguson 20 Multi-Power that smashed pre-sale predictions at the Harrogate Vintage and sold for three times its estimate, eventually reaching a record price of £31,500. Another Massey Ferguson, this time a 6150 that had one owner and been on the same farm since new, clocking a modest 3,210 hours, sold for £35,000 via one of our timed online auctions.  

Demand for second-hand equipment

Mr Godfrey added: “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.

“We offer all our auctions to a global audience, which provides sellers with greater confidence that we can achieve the best prices for their machines and handle exporting kit to its final destination. 2024 has started at the same pace we saw in 2023, with strong prices being paid for good-quality second-hand machinery, and we have several big sales already in the pipeline that we are excited to bring to market.”

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