Auctioneer: increased price gap between new and used food processing equipment

Auctioneer: increased price gap between new and used food processing equipment
June 23, 2010
In the wake of the economic crisis, a second hand food processing machine bought at auction is now selling for an average of a quarter of what it would cost new, according to a food equipment auctioneer.

Mark Flynn, director of Pro Auction, said that before the crisis a bidding frenzy could lead to the sale of a second hand machine for more than the same machine would cost brand new.

Such feverish bidding is no longer a feature of the market as buyers and sellers take on a much more cautious approach. Flynn said buyers are now only interested in machines that they need and they stick to a set budget, avoiding getting embroiled in bidding wars.

This means that machinery sold at auction is now going for around a quarter of the new price. For example, Flynn said an 8 year-old multipack machine that costs £220,000 new, recently sold for £60,000 while a steam injected cooker for the bakery industry made in the late 1990s went for £8,000 and would cost £60,000 new.

The auctioneer said the price gap between new and second hand machinery is one of the reasons for an upsurge in demand in recent months.
Like to receive news like this by email? Join and Subscribe!
Join Our Telegram Channel for regular updates!
Sponsored Content
Tomra - Leaderboard - 20240328

Highlighted Company

Sponsored Content
Tomra - Leaderboard - 20240328
Sponsored Content
Sponsored Content
Sponsored Content
Sponsored Content

Where

Sponsored Content