This year is likely to see strong sales of second-hand farm machinery predicts East Anglian based auctioneers Cheffins. It sold more than £2 million worth of stock in January and £5 million in February.
Cheffins Machinery Sale director Joe Page said: “With long lead times for new kit and a massive shortage of stock available from dealers, auctions have become the go-to source for quality used machines for farmers and trade buyers the world over.”
About half of the lots at both auctions went to overseas buyers. “The export market came back in full force at the tail end of last year, as buyers looked to make the most of favourable exchange rates and have become increasingly confident with navigating export rules post-Brexit,” he added.
The company says its Cambridge auction is the largest monthly sale of tractors and agricultural machinery in the world.