Onlinemachinery auctions are proving to be a successful, low-cost way of sellingsurplus farm machinery and equipment, according to results from rural propertyand business consultant Brown & Co.
During2014 the firms online auctions made over 750,000. The four quarterly salesattracted a total of 890 bidders and saw in excess of 480 lots sell above theirreserve.
Thesefigures clearly demonstrate the formats potential and its growing popularitywith farmers, said Brown & Co auctioneer Simon Wearmouth.
This wasthe first year we have held online auctions and they have generated a verysignificant income for our clients, putting their used agricultural machineryand equipment in front of bidders across the globe.
Theauctions, which are open to anyone, not just Brown & Co clients, attractedinterest from across Europe, Pakistan, New Zealand as well as Britain.
They offeran efficient method of selling machinery as no equipment has to be moved, saidcolleague Elizabeth Allen. Sellers simply click on an entry form, attach somedigital photographs and a description of each machine and we do the rest.
John Harrison of RalphHarrison & Partners of north Norfolk, who has sold several lots andpurchased a couple, spoke for many farmers who have used the service.
Selling surplusmachinery by this method couldnt be more easy, with no haulage costs and asimple process to upload details and photographs, he said. Its actuallyquite good fun to watch the bidding progress.
Charlie Reynolds fromKettering, Northants, said: We have sold a significant value of machinery viathis service ranging from a Lexion Combine to a range of cultivators and theprocess couldnt be more simple.
The key is the qualityof the photographs and the level of description. Look at it from a buyerspoint of view and consider whether you would have the confidence to bid basedon the information provided.
Cambridgeshirefarmer James Fountain added: We found the auction a quick and easy way to sellour surplus machinery to a worldwide audience.
Each saleis held over 10 days, giving buyers plenty of time to access lots via the onlinecatalogue, view items and bid. They can also enquire about lots and arrange tosee them in the flesh before bidding.
Kit sold todate includes combine harvesters, tractors, sprayers, trailers, cultivators,drills and fertiliser spreaders as well as wheels, tyres and multiplesteel-framed buildings.
Brown& Co has four more quarterly sales planned for 2015, said Mr Wearmouth. Wealso have a bespoke and very significant online sale for one of Brown &Cos own clients in 2015. The dates are still to be set, but its likely to beheld early in the year.
As a regular holder of farm machinery and equipment auctions, Brown& Co has extensive databases to whom details of online auctions arecirculated. This, plus national advertising of the sales, mail shots and usingthe Twitter #onlinegavel will ensure sellersitems have the widest possible coverage, said Mrs Allen.