More than £5million worth of machinery was sold at Cheffins’ on site monthly machinery sale near Sutton, Ely, Cambridge, where prices were up 40% on the same sale in February 2022 which grossed £3.8m.
For the second month on the trot, around 50% of the lots sold to overseas buyers in attendance from Australia, Canada, South Africa, Ghana, Egypt, the Middle East and Europe.
John Deere tractors topped the trade with a 2003 9520 machine selling for £90,500 and a 2019 6175R JD making £80,000.
Other machinery sales saw a Case Puma 240 CVX achieve £72,000 with a Cat MTC875E selling for the same money. This was followed at £71,000 by a New Holland T8.435 tractor £71,000; £67,000 for a 2008 John Deere 8530 tractor; £63,200 for a 2018 MF 8732 tractor; £63,600 for a 2016 Fendt 936 and £60,500 paid for a 2017 Househam Predator sprayer.
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“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,” said Joe Page, director Cheffins.
“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.
“Overseas buyers are now more confident in the ability to import machinery, as the rules and regulations are becoming easier to navigate.”
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