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High demand pushes up second-hand farm kit values >More in
Second-hand tractor and equipment prices have hit record highs, according to auctioneers across the UK.
Prices have been driven up by buoyant demand and a combination of high costs for new equipment and long, off-putting waits for delivery.
Bill Pepper, head of machinery at auctioneer Cheffins, reported that prices were so high that the most desirable tractors were no longer depreciating in value.
“We have even sold four- to five-year-old tractors for sums above their original price,” Mr Pepper said.
He suggested demand was founded on improved confidence among arable farmers, who had seen grain prices firm since the start of the year.
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Tractor market buoyancy continues with sales up 12%
Sales of new tractors were up 11% last month.
The UK tractor market remains buoyant with sales up 12% in the first four months of the year, according to figures.
Data from the Agricultural Engineers Association (AEA) reveals the number of new tractors over 50 horsepower registered between January and April was 4,268 – this is 12.3% more than in the same four-month period in 2020.
Figures for April show 1,009 tractors were registered – up 11.1% on April 2020.
“For the sixth month in a row, UK tractor registrations were comfortably above their level a year before in April,” said AEA agricultural economist, Stephen Howarth.
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