The East Anglia-based firm Cheffins kicked the year off to a good start despite the ongoing challenges of COVID-19 and Brexit. The firm reports that it achieved a gross figure of over £7.5m (€8.7m) worth of machinery sales during the first quarter of 2021 at its dedicated site near Ely, Cambridge.
Over 20% of stock was sold to overseas buyers, with the most active countries including Ireland, Poland, Sudan, Romania and France.
Irish buyers remained prominent despite the new rules and regulations imposed on the importation of used machinery from the UK as result of Brexit on 1 January.
Cheffins said that its first quarter of 2021 was 25% behind the corresponding period for 2020 due to the reduced number of lots offered for sale and this has played an influential factor in the continued high prices paid by buyers.
Joe Page of Cheffins said: “The appetite for secondhand kit has continued unabated despite both Brexit and the coronavirus outbreak and export sales have remained healthy to countries both within the EU and further afield.
“Whilst Brexit brought with it a golden touch for machinery values over the past few months as overseas buyers looked to pick up bargains in the wake of the weakening sterling, it has now created additional complications for export.
“The DEFRA cleaning down directive has had its challenges. However, we are quickly starting to overcome these and have continued to be able to service the needs of our EU-based buyers.”
The highest price achieved for a particular lot over the entire quarter was £60,000 (€69,642) paid for a Fendt 936 Profi Plus, followed by a 2015 John Deere 6195R which sold for €54,000 (€62,678).
Other highlights included an Amazone Panterra self-propelled 36m sprayer which sold for £52,000 (€60,356) and a John Deere 8530 which sold for £52,000 (€60,356). Prices noted were converted at a rate of £1=€1.16.