Lack of stock and favourable exchange rates push up second hand machinery prices at Cheffins’ Ely sale

A tractor for sale at the Cheffins Ely sale. Picture: CHEFFINS

A tractor for sale at the Cheffins Ely sale. Picture: CHEFFINS - Credit: cheffins

Lack of stock and favourable exchange rates are continuing to drive up the price of second-hand farm machinery, according to auctioneers.

Cheffins said its August sale at Ely grossed higher results than for the previous three years, with totals up 17% on the same month in 2016, and 104% up on August 2015.

“Harvest, holidays and the tail-end of hay-making all have a negative impact on what goes on in the yard and quite often August happens to be our quietest and slowest month of the year,” said director Bill Pepper.

“The overall result was the best for an August sale since 2103 and continues the great run of auctions we’ve had now since the Brexit vote last year. Exchange rates obviously play a part but it’s the lack of stock which brought many a trader both from the UK and abroad to the auction to buy much-needed kit.”

There was a strong trade for the 260 tractors sold this month, Cheffins said.