Second-hand tractors soar in value

Second-hand tractors SOAR in value: Farmers face sky-high prices and long delays for used agricultural machinery due to supply crisis affecting parts needed to build brand NEW ones

  • Auctioneers Cheffins revealed its sales have doubled over the past six months 
  • It has grossed over £40 million in sales this calendar year with more to come 
  • The firm believes second hand tractors and machinery will continue to soar 
  • Brexit and staff and component shortages behind surge in second hand items

Sales of second hand tractors are continuing to soar as farmers turn their attention to used equipment amid long delays for new machinery, a leading auctioneer has revealed. 

Cheffins, one of the leading agricultural auctioneer firms in the country, have revealed its sales have doubled over the last six months with one director saying that the company is ‘the busiest it has ever been in sales’. 

The firm has seen a huge spike in demand for second hand tractors and other farming equipment, a trend mirrored across the industry. 

It has grossed over £40 million in sales this calendar year and is expecting to see the number soar further. Last year, it reported a record £35 million.  

Oliver Godfrey, head of the Machinery Auction Division at Cheffins, told MailOnline that the pandemic accelerated sales of second hand goods, particularly as consumers face long delays for new machinery. 

However, he added: ‘There’s only so much kit. The more we sell each month the harder it is to sell next month. I think this environment could continue for a long time.’ 

1983 County 1474 ‘Short nose’ – sold by Cheffins in a private collection auction in Essex in July for £210,112

2017 Fendt 939 Vario – tractor was sold by Cheffins in a recent farm dispersal sale in Kent for £116,117

He said: ‘We have seen a surge in the sale of second-hand machinery which mirrors the second-hand car market. 

‘Farmers are looking at second-hand as they face rising costs and delivery times for equipment for new machinery. It’s not just tractors but also other machinery like combine harvesters. 

‘The pandemic accelerated online sales and it’s the busiest we’ve ever been in sales. We’ve had as many sales in the last six months as we’d have in 12.’

Mr Godfrey also pointed to Brexit and staff and component shortages as reasons behind the increase in delays to new farming equipment. 

This, he explained, helped aid the surge in popularity of second-hand goods. 

Another factor was the coronavirus lockdown, which led to a rise in people with free time. 

This time allowed them to indulge in hobbies, which led to a rise in the sales of vintage machinery.  

In 2020, Cheffins sold more than 4,500 tractors and plant items throughout the year, amounting to £35 million. 

A second hand 1983 County 1474 tractor with an estimated sale price of £60,000-£70,000 was sold by Cheffins for £210,112. 

A 2017 Fendt 939 Vario tractor was sold for £116,117 and a 2019 Valtra T234 tractor sold for £85,704.

Away from tractors, the firm sold a 2016 Horsch Leeb PT330 sprayer for £120,090 and a 2016 Horsch Sprinter 12SW seed drill for £84,662.

This 2019 Valtra T234 tractor was sold by Cheffins this year for £85,704.50. It is one of several sold by the auctioneers

The 66 plate JCB 4220 Fastrac, 25-year limited edition, which sold for £75,000 by Cheffins

Tractors aren’t the only popular second hand machinery. This 2016 Horsch Leeb PT330 sprayer sold for £120,090

Meanwhile, Cheffins also sold this 2016 Horsch Sprinter 12SW seed drill for £84,662

Bill Pepper, director at Cheffins, said earlier this year: ‘With sales totals increasing regularly, we can really see that both the UK and export market for second-hand machinery is booming.

‘The cocktail of rising prices for new tractors, lack of new tractor registrations, a shortage of stock for dealers and a drop in trade-ins has really brought the UK dealers back to our market.’ 

Earlier this month, Stags, another auctioneer firm, revealed it had also seen a surge in the sale of secondhand equipment.   

Its latest online auction saw a 2011 Deutz Agrotron M625 4wd tractor sell for £29,000 and a 2005 New Holland TS100A 4wd tractor with 3,570 hours sell for £22,500.

It comes as a report revealed that cars up to a year old are selling for more than they cost new.

The average price of second-hand vehicles has risen 24 per cent in 12 months as record numbers change hands.

Data from Auto Trader shows that around 10,000 used vehicles registered in the past year – 17 per cent of the total – are on sale for more than the showroom price.

Some used models are being sold for up to £7,000 more than where customers buy them new. 

The boom is being driven by problems in rolling out new cars because of critical shortages of semiconductor chips.

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