Cheffins has sold more than £48million worth of second-hand agricultural machinery throughout 2020, at the monthly collective auctions, on site and through the regular vintage sales.

Cheffins has sold more than 4,500 tractors and plant items throughout the year, amounting to an enormous £35million.

Highlights of 2020's sales include a 66 plate JCB 4220 Fastrac, 25-year limited edition, with 6,207 hours on the clock which sold for £75,000.

This was followed by a 17 plate Case CVX 185 tractor which sold for £69,000 and a 16 plate Case Magnum CXV340RT tractor with 4,250 hours which made £68,000.

Bill Pepper, director at Cheffins said: “There was a pause in live auctions at the start of the Covid-19 outbreak, meaning that sales were offered solely online until September when we reopened the gates of the sale ground.

"However, we were gladdened by the spirit of online bidding throughout the summer months which still saw excellent prices paid for second-hand tractors and plant items.

"In fact, the online-only sales had parity to live auctions in terms of totals generated throughout the summer months.

“With sales totals increasing regularly, we can really see that both the UK and export market for second-hand machinery is booming.

"The cocktail of rising prices for new tractors, lack of new tractor registrations, a shortage of stock for dealers and a drop in trade-ins has really brought the UK dealers back to our market.

"This, combined with the export trade making the most of a drop in the pound, has led to UK buyers vying against the foreign buyers and has in turn pushed up prices.

"We have also had a number of farmers entering stock to be sold as they see auction as the best way to achieve the highest prices for stock.”

Cheffins’ nationwide on site sales have also had stellar results across 2020.

The highlight of the on site calendar was the major dispersal sale on behalf of KS Coles Ltd, a market-leading vegetable grower in Somerset which saw 600 lots of tractors and vegetable growing equipment in September.

A notable price was £113,775 for a 2019 Fendt 724 Vario at the KS Coles sale.

There have been 28 on site sales conducted with more than 6,000 vintage and modern machinery items sold to a total value of over £10m.