Selling used farm machinery: how auctions can help you reach the right buyer

If you have agricultural assets you no longer need, online farm equipment auctions can be a very effective way to liquidate them. Online auctions have taken off in recent years, and whether you’re a single farmer with a used tractor to sell or an agricultural business with lots of unwanted machinery, they can save you time, simplify the process and maximise your returns. 

In this article, we’ll explain what online farm equipment auctions are and discuss how they help sellers find the right buyers for their assets. 

What are online farm equipment auctions?

Online farm equipment auctions have become an increasingly popular way for farmers to buy and sell used agricultural machinery, vehicles and tools. The auctions are held regularly and enable buyers to bid on lots, usually for 30 days, from anywhere with an internet connection. The lot is sold to the highest bidder, and full payment is made within 48 hours of the auction ending. 

The assets available at farm equipment auctions include tractors, harvesting equipment, utility vehicles, tools and more. For example, in our recent farm equipment auctions, we’ve sold excavators, a cultipress, green-keeping machinery and all the assets of a landscaping business. 

Why have online farm equipment auctions become so popular?

Farm equipment auctions have always been a popular way for sellers to liquidate unwanted agricultural assets and for buyers to secure machinery without paying the high price of new equipment. 

It used to be the case that you’d have to travel across the country to attend an auction in person before driving or transporting the equipment home. However, farmers are increasingly turning to online farm equipment auctions as a more convenient and less time-consuming alternative.   

The pandemic played a part in accelerating the popularity of online farm equipment auctions. Covid-era restrictions on supply and movement saw an increasing reliance on online auctions, and more and more people discovered the benefits. 

Now, classified ads and negotiated sales are becoming less common, with online auctions making the market for tractors, combines and other equipment easier to access. As machinery becomes larger and more expensive, the cost of shipping it is also becoming proportionately more attractive. That gives sellers at online auctions access to buyers from across the UK and even overseas. 

What are the benefits of online farm equipment auctions? 

There are benefits of online farm equipment auctions for buyers and sellers. Buyers get access to a wider variety of items without having to travel, while sellers gain exposure to a larger audience, which helps to increase the price their assets achieve. 

Here’s a quick look at some of the benefits.

The benefits for sellers

• Quick sales: Auctions typically run for 30 days and the winning bidder makes full payment within 24 to 48 hours of the auction ending.

• Broad exposure: Online auctions attract buyers from across the UK and overseas.

• Higher prices: The competition at auction and a broader range of buyers can lead to higher prices than you’d receive from a dealer or private sale.     

• Less time-consuming: Experienced auctioneers can manage the whole process for sellers so they can focus on managing their business.

The benefits for buyers

• Cost savings: Buyers can make big savings on the cost of new assets and avoid the markups dealers place on used equipment. 

• Variety: Buyers can access a wide range of machinery, tools and equipment, including more niche and specialist items.

• Transparency: Detailed sales listings include all the relevant information about the equipment, including maintenance logs and service history. Buyers can also physically inspect the equipment.  

• Convenience: Bidding on equipment from the comfort of their homes helps avoid wasted time and allows buyers to focus on their businesses. 

How do online farm equipment auctions work?

There are several reasons why selling your assets at an online farm equipment auction can be preferable to dealerships and private sales. Finding a buyer using private sales can take weeks or months, and even when you do, there’s very little transaction security. There are also no worries about the limited demand and lower returns when selling to a dealer. 

Here’s a quick guide to the online farm equipment auction process at Eddisons Asset Auctions.

• Our RICS-registered surveyors appraise your asset and conduct a professional valuation before suggesting a guide and reserve price for your lot.

• We produce sales listings with detailed descriptions and high-quality images of each asset.

• Your asset is allocated a slot in one of our online auctions.

• We market your equipment to our existing network of interested buyers and via digital marketing, social media and offline strategies.

• The auction is usually open for 30 days and we respond to enquiries from prospective buyers and arrange physical inspections.

• When the auction closes, we oversee the transaction with the winning bidder and you typically receive full payment within 24 to 48 hours.

Sell your used farm machinery at auction

At Eddisons Asset Auctions, we hold regular farm equipment auctions and clearing sales across the UK and provide expert support throughout the process. Learn more about selling your assets and contact our team for a free appraisal.