Auld lang syne, a new year for older tractors

Richie Bros see growth in on farm auctions


Machinery
Richie Bros, Moree Auction, March 2017

Richie Bros, Moree Auction, March 2017

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Richie Bros see growth in on farm auctions

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SECOND hand agricultural machinery is set for a new lease on life in 2018.

Despite enjoying an astounding 375 per cent growth in the Australian agricultural segment over three years, global asset management and disposition company, Richie Bros believe the market will continue to grow.

Richie Bros, director of sales Asia Pacific, Finlay Massey said the Australian market is changing. 

“There are more corporate farming units in Australia, then ever before,” he said, 

“How they buy their equipment is different, rather than the small farmer buying one machine at a time the corporates are buying ten or twenty machines.”

Mr Massey said this meant large professional auctions were more attractive, as they allowed the offloading of larger packages of assets. 

“A bigger sale is a bigger draw card, its about creating an event to get the audience to travel to it,” he said. 

“The fact that all our sales are completely unreserved is a major carrot for getting an audience.”

Mr Massey said holding auctions on-farm or in regional locations was a key strategy for Richie Bros.

“Of our about $9 million per year in agricultural sales globally, most of them on-farm sales,” he said. 

Mr Massey said technology upgrades, particularly in headers, drove corporate turnover of machinery. 

“The package we are selling at Dubbo in February is an upgrade of an entire fleet to a more technologically advanced model, he said. 

Mr Massey said the agricultural machinery market was looking strong.

“Whether through elections, weather or water, in all sectors we are involved in there is more confidence in the buying market,” he said. 

Mr Massey said February would see regional auctions in Dubbo and Moree, NSW. 

The story Auld lang syne, a new year for older tractors first appeared on Farm Online.

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