Strong prices and competitive bidding at a major Oxfordshire machinery sale are underlining the resilience of the second-hand equipment market at a time of growing financial pressure across farming.
More than 200 lots were sold at a farm machinery auction held near Banbury by property consultancy Fisher German on behalf of client R & R Gardiner, attracting buyers from across the UK and overseas.
The turnout and pace of sales highlighted continued demand for well-maintained used machinery as farmers seek value amid rising input and replacement costs.
Ginny Banham, a farm machinery auction expert in Fisher German’s rural property management team, said a range of factors are driving more farmers and landowners to sell equipment.
“Considering the current agricultural climate, many farmers and landowners are increasingly choosing to sell machinery for a range of reasons, including retirement, changes in farming policy, farm restructuring, diversification, or even just the need to dispose of surplus equipment,” she said.
She said the cost of replacing machinery remains a key influence on buyer behaviour. “Second-hand farm machinery is selling well at the moment. With the cost of new equipment continuing to rise, more farmers are turning to second-hand purchases and that demand is pushing prices up,” she said.
Auctioneers said strong interest was particularly evident where machines were well presented and clearly maintained, with multiple bidders competing on popular items.
Paul Clayson, consultant auctioneer at Fisher German, said buyers are placing increasing value on condition rather than age. “It is quite clear that the machinery doesn’t need to be the latest kit or necessarily the most modern, but it helps the selling price enormously if it has been looked after and is well presented and clean,” he said.
He said transparency around servicing can make a decisive difference. “Quite recently in a sale I was able to announce that all the tractors had just had a winter service with receipts available,” he said, adding that this reassured buyers and contributed to premium prices being achieved.
Ms Banham said that while the wider agricultural climate remains challenging, the strength of the second-hand market is creating opportunities for those looking to release capital.
“It’s a challenging time for agriculture, but due to the strengthen in the second-hand machinery market that also creates opportunities for those who are looking to sell,” she said.
She said farmers are increasingly reassessing assets as margins tighten. “With crop prices under pressure and changes to inheritance tax potentially coming in next year, many farmers are reassessing their assets and exploring options to strengthen their business resilience,” she said, adding that machinery auctions offer “a transparent, efficient, and results-driven way to release capital from valuable equipment”.
With demand for used machinery showing little sign of easing, auctioneers expect further interest in sales over the coming months as farmers continue to balance cashflow, replacement costs and longer-term business planning.
