Machinery sales see a third over the previous year’s sale, as new tractor registrations continue to decline.
Quality second-hand stock is becoming increasingly attractive according to the Agricultural Engineers Association.
Cheffins auction in Sutton, Cambridgeshire, saw sales total £3.5m at its November machinery sale, an increase of £1m over November 2015.
According to the Agricultural Engineers Association (AEA), new tractor registrations are down by 11 per cent compared to 2015.
UK dealers, who accounted for over 50 per cent of deals at the sale, are reporting that farmers are searching out second-hand machines, rather than purchasing new. This, coupled with fewer trade-ins from new tractor purchases, is leading to a shortage in used stock.
Bill Pepper, Director of Cheffins says, “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.
"This, combined with the export trade making the most of a drop in the pound, has led to UK buyers vying against the foreign buyers and has in turn pushed up prices.”