Agri auctioneer Cheffins has released record figures for 2023, showing that total machinery and plant sales were £71m, a £23m rise compared to the previous year.
Demand for machinery remained strong last year and many items were sold at a premium as buyers looked to the second-hand market for significant saving on buying new.
Cheffins 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.
Despite supply chains returning to normality from the past couple of years, new machinery prices continue to be high.
Oliver Godfrey, Cheffins director, said this was adding caution to the market, especially when many arable growers had struggled to get winter crops established.
He added: "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 last year included the dealer dispersal for Ripon Farm Services in Yorkshire, which saw over £5 million of machinery sell in one day.
The well-known dealer sold 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 well at £131,000 to a buyer from Poland.
Elsewhere, a Massey Ferguson 20 Multi-Power 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.
Mr Godfrey said there was still a huge demand for low-hour, high-spec, well-maintained second-hand equipment that had 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," he explained.
"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."
