An online machinery auction fetched a whopping gross amount of $ 14.2 million ahead of what is expected to be a bumper harvest.
Dubbed the Machinery Muster, 1,521 lots were sold at the Ritchie Bros. online auction.
It is believed to be the largest unqualified national agricultural auction in Australia.
Ritchie Bros. Farmland Manager Gary Biggs said it was “well and truly their biggest farm sale ever,” with previous sales grossing less than $ 10 million.
“We had expectations of around $ 11 million and the market absolutely welcomed it,” Biggs said.
“The majority of the lots sold beyond our expectations.”
Mr. Biggs attributed part of the success of the sale to the lack of supply and the wait times for new machines.
He said the price of the new gear and the looming harvest, which is expected to be large, were other contributing factors.
The item drawing the most money overall was a 2017 John Deere 9530RT, which sold for $ 350,000.
The crawler machine with 4,500 hours on the clock was part of a large shipment from Moree, NSW, and was purchased by a farmer in Talwood District in Queensland.
A 2015 NDF 24-meter narrow-ply pneumatic seeder bar, which sold for $ 297,000, also attracted a lot of money.
The planter was kept at the Moree yard and purchased locally by a farmer in Pallamallawa, NSW.
Two John Deere 8320R tractors sold for $ 250,000 and $ 242,000, respectively.
Interestingly, five John Deere 6195 tractors from Geelong yards in Victoria were all purchased by interstate buyers from Western Australia, Tasmania, Queensland and New South Wales.
Several lots sold above the new retail price of the product.
These weren’t just growling machines, as the lot that turned out to be the most popular online before the sale was a 1965 Massey Ferguson 135.
The restored tractor located in Geelong went to a buyer in Ballan for $ 7,250.
A total of 2,920 bidders registered for the auction, including nine percent of registered bidders from overseas.
Interest from NSW was strong, with 1,041 state registered bidders, followed by Victoria with 936 bidders.
There were 133 buyers from NSW, 121 buyers from Victoria and 40 buyers from Queensland when the sale closed.
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The History of Money in Machines: Auction Fits $ 14.2 Million for the First Time on Farm Online.