FARMERS AND AGRO-DEALERS AUCTION RAKES IN OVER E1M

MBABANE – Over 60 farmers and agri dealers showed up at the mass auction where over E1 million was raked in from the sale of farming equipment and tractors.

As per instruction of EI Ranch, Swazi Auctioneers sold by public auction tractors, disc ploughs, boom-sprayers, planters, bailer/ mower, fertiliser/ compost applicator, crates, a Yamaha quad bike, vegetable packaging and much more by public auction on Tuesday. The auction, which lasted for about an hour, was conducted by Swazi Auctioneers’ Sakhile Ndzimandze at Sidvokodvo, Old Mutual Farm past Nkonyeni starting from 11am. Bidders who were allowed to participate at the auction were expected to pay a refundable deposit of E5000.

Contested

It should be mentioned that the auction was highly contested as the price of some of the items on offer went up from their reserve prices by over 100 per cent. The most contended for item on offer was a Star Precision Seed Planter which was sold for a price which was five times higher than the initial reserve. The almost new seed planter went under the hammer for E50 000 from only E5 000. A Landini Tractor 8860 was also sold for E93 000 from a reserve price of E80 000. It should be mentioned that more and more frequently, farm equipment and heavy machinery are sold and bought during auctions. From estate sales to purely agricultural events, both buyers and sellers are increasingly aware of the advantages of selling and purchasing machinery at auctions.
As buyers, you can get high quality, name brands at lower prices than you would pay for them new.

Backup

Even if you already have good equipment, you can find extra pieces for backup or occasional use. You can often get just what you need without paying the price for new. The main benefit of buying used equipment is the value. There’s no “show room premium” attached to the price, so buyers and sellers have the advantage of the best value, determined by the auction selling price. For equipment sellers, you can expect faster results than classified ads or word of mouth. Auctions are advertised widely, and the number of prospective buyers is multiplied. If your equipment is well-maintained, the price you sell it for will likely be higher than trade-in value, and you can expect a quick sale and cash in hand shortly after the auction.

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