Cheffins said higher demand had driven up revenues at its flagship Cambridge Machinery Sales at the firm’s dedicated saleground at Sutton near Ely, and at on-farm auctions across the UK.

The company says financial pressures and policy uncertainties affecting the farming industry had forced a "significant slowdown" in new machinery trade-ins, and reduced the volume of equipment entering the auction market.

In all, 4,800 lots were offered at an average price of £2,850, including 3,000 lots sold through the monthly sale in Cambridgeshire - with a "notable increase" in machinery consigned directly from farm, now accounting for around 25pc of entries.

The firm said export demand has remained "particularly robust", with 34pc of items sold at the monthly sales destined for overseas buyers, with leading locations including Spain, Poland, Ireland, Ukraine and the Netherlands.

And the headline prices demonstrated the "continued demand for high-quality, well-maintained equipment", added auctioneers.

Highlight sales from the quarter included £110,000 paid for a 2022 Horsch Avatar disc drill which had been consigned straight from a local farm, £105,000 for a 2023 Case IH 300 Optum tractor, £62,000 for a 2017 Fendt 724 Profi tractor and £43,500 for a 2001 John Deere 8410T tractor.

Cheffins director Joe Page (Image: Tim Scrivener)

 Cheffins director Joe Page said: "The first quarter of this year has been mainly characterised by a lack of stock.

"As farming weathers the shockwaves of the new inheritance tax ruling, a lack of government funding, high input costs and wider macroeconomic uncertainty, we have seen a significant slowdown in new machinery trade-ins.

"This has reduced the volume of equipment entering the auction market. In January, the Agricultural Engineers Association (AEA) reported that new tractor registrations totalled just 8,791 machines in 2025 – down 14pc on the previous year and the lowest figure on record.

"This trend is feeding directly into the second-hand sector, with fewer tractors coming forward for sale.

“However, while availability has tightened, the quality of machinery on offer has remained exceptionally high. We have seen a marked increase in items consigned direct from farm, which is exactly what both domestic and international buyers are seeking."

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