Second Hand Cars Are Selling For More Than They Cost From The Showroom, Report Reveals

Auctioneers Cheffins revealed its sales have doubled over the past six months 

  • It has grossed over £40 million in sales this calendar year with more to come 

  • The firm believes second hand tractors and machinery will continue to soar 

  • Brexit and staff and component shortages behind surge in second hand items

  • By Danyal Hussain For Mailonline

    Published: | Updated:

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    Sales of second hand tractors are continuing to soar as farmers turn their attention to used equipment amid long delays for new machinery, a leading auctioneer has revealed. 

    Cheffins, one of the leading agricultural auctioneer firms in the country, have revealed its sales have doubled over the last six months with one director saying that the company is 'the busiest it has ever been in sales'. 

    The firm has seen a huge spike in demand for second hand tractors and other farming equipment, a trend mirrored across the industry. 

    It has grossed over £40 million in sales this calendar year and is expecting to see the number soar further. Last year, it reported a record £35 million.  

    Oliver Godfrey, head of the Machinery Auction Division at Cheffins, told MailOnline that the pandemic accelerated sales of second hand goods, particularly as consumers face long delays for new machinery. 

    However, he added: 'There's only so much kit. The more we sell each month the harder it is to sell next month. I think this environment could continue for a long time.' 

    1983 County 1474 'Short nose' - sold by Cheffins in a private collection auction in Essex in July for £210,112

    1983 County 1474 'Short nose' - sold by Cheffins in a private collection auction in Essex in July for £210,112

    2017 Fendt 939 Vario - tractor was sold by Cheffins in a recent farm dispersal sale in Kent for £116,117

    2017 Fendt 939 Vario - tractor was sold by Cheffins in a recent farm dispersal sale in Kent for £116,117

    He said: 'We have seen a surge in the sale of second-hand machinery which mirrors the second-hand car market. 

    'Farmers are looking at second-hand as they face rising costs and delivery times for equipment for new machinery. It's not just tractors but also other machinery like combine harvesters. 

    'The pandemic accelerated online sales and it's the busiest we've ever been in sales. We've had as many sales in the last six months as we'd have in 12.'

    Mr Godfrey also pointed to Brexit and staff and component shortages as reasons behind the increase in delays to new farming equipment. 

    This, he explained, helped aid the surge in popularity of second-hand goods. 

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    Source : https://www.dailymail.co.uk/news/article-10212449/Second-hand-tractors-soar-value.html

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