If the high prices recorded in the Corinella Farms unreserved clearance auction are anything to go by, demand for used machinery will be red-hot in 2022.
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Ritchie Bros agricultural territory manager Gary Biggs said it was a remarkable sale, with some gear selling for above new prices.
More than 3100 bidders registered online and a total of 203 buyers took home the 449 lots offered on January 28.
The majority of buying power came from Victoria, with 366 lots sold in the state, while 61 lots went to NSW buyers.
The dearest item sold was a 2020 Case IH Patriot 4430 self-propelled sprayer, which went for $545,000. A 2016 model of the same sprayer sold for $280,000.
When it comes to tractors, a 2019 Case IH Steiger 550 went for $385,000 while a 2020 John Deere 8345R made $335,000.
Grain bins also proved popular with a 2015 Barber Engineering 110-tonne Mother Bin going for $157,500, while a 2017 Finch 130t Mother Bin returned $148,000.
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One customer flew from Queensland to Melbourne, hired a car and drove to Campbells Bridge, Vic, to inspect the gear, then drove and flew back.
Mr Biggs said it was well worth it for the customer, who ended up buying a tractor.
Another had driven from Moree, NSW, which Mr Biggs said was an example of the demand for quality assets.
"We had massive participation; our first open day more than 400 people inspected gear," Mr Biggs said.
"Every day leading into the auction we had more than 200 people turn up to inspect gear."
The plant and equipment sale came about as a result of the sale of Corinella Farms' property portfolio in western Victoria and south eastern South Australia in December.
Corinella Farms operating partner Sue Watson said she was very happy with the result.
Ms Watson said the marketing as well as the comprehensive information about the condition of equipment, reports and photography online had contributed to securing the strong result.
Corinella Farms had looked at several tenders, however Ritchie Bros secured the contract due to its ability to deliver an auction of this scale within the given timeframe with certainty of sale.
It was a busy time for the Ritchie Bros team, who quickly turned around the sale in a matter of weeks over the festive season.
Mr Biggs said it had been an outstanding sale overall and went well above expectations.
"The result is a reflection of the demand for good quality gear in the market, and the reach and scale of Ritchie Bros to put on an event of such a scale," Mr Biggs said.
"At the end of the day, supply is low and demand is high, and that's fuelling prices in the used equipment market."
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