Cheffins has announced its year-end results with £62 million-worth of machinery sold in the last 12 months across 63 auctions.
The East Anglia-based auctioneer, which conducts the largest monthly sale of tractors and agricultural machinery in Europe, has unveiled its results for the last financial year.
The firm has sold over £62 million-worth of machinery throughout the monthly collective auctions, on site sales and through the regular vintage sales.
Over 49,000 lots of machinery and associated items have been offered for sale, with results £10 million up on the previous financial year, which grossed £52 million by comparison.
Sales were conducted to over 35 countries worldwide, with exports throughout the EU, the USA, Australia and north Africa.
£34m-worth of sales were conducted through the Cheffins' Cambridge Machinery Sales hosted at Sutton, near Ely, alone.
In addition, the firm hosted 32 on-site sales which have taken place throughout the UK on behalf of farmers, landowners and the trade.
These have seen sales gross over £23m in total, with the highlight of the on-site calendar being the auction on behalf of Ripon Farm Services, which saw some 300 lots go under the hammer on behalf of one of the largest agricultural machinery dealerships in the UK.
Hosted at Ripon Racecourse, the sale included 55 tractors, ten combine harvesters and a series of other grassland machinery, cultivation equipment and trailers.
This was closely preceded by the major machinery auction on behalf of Wilson Farming Ltd in Lancashire which saw 150 high value lots sold for one of the country’s leading agricultural contracting businesses.
Vintage sales, hosted both at the Cheffins sale ground and on-site on behalf of collectors, grossed £5.5 million for the year, representing an uplift of £1.5 million against the previous year’s total of £4 million.
Highlights included the auction of over 900 vintage tractors, implements, spares and memorabilia which were offered as part of the AR Wilson Sale in Nottinghamshire, many of which sold for well into six figures.
Oliver Godfrey, head of the machinery division at Cheffins said: “These figures go to show the insatiable demand for good quality second-hand machinery, as farmers continue to be affected by inflation and the rising costs and delayed delivery times for new machinery.
"In spite of market fluctuations and the uncertainty around funding for UK farmers, Cheffins has continued to remain deeply connected to clients, and help provide the machinery needed for their operations.”
