Brexit uncertainty drives UK farmers to second-hand machinery purchases

Uncertainty was driving machinery sales, with buyers looking to secure good quality second-hand machinery.

And buyers were also looking to bring forward purchases of new and used machinery as they prepare for Brexit, according to Stuart Cornthwaite, managing director at Cornthwaite Agricultural.

“They are doing it now before Brexit takes effect and getting themselves geared up to be able to not spend for two or three years,” he said.

“Most farming families and farming businesses are preparing themselves to be ahead of the game.”

Two- to five-year-old machinery was selling for a premium of up to 20 per cent at a recent Euro Auctions sale in Leeds.

Value for money

Jonnie Keys, operations manager at the company, said shrewd buyers were looking for low hours machines which still had all the ‘bells and whistles’ without the cost.

He added squeezed margins on-farm meant people were looking for value for money.

“This means they gain all the operational benefits of an ‘almost new’ model but at a much-reduced cost. What is more, if they run the machine for a few years and then sell it on through an auction they minimise their exposure to depreciation and potential servicing costs.”