Gulf Construction Online - Euro Auctions’ second sale a success

UAE Focus

Euro Auctions’ first ever Dubai auction in September 2017.

Euro Auctions’ second sale a success

01 February 2018

EURO Auctions, the global auctioneers of industrial plant and construction equipment, held its second successful sale last December at its recently acquired Dubai Auction site, having attracted more buyers and vendors. This follows its first-ever Dubai auction in September.

There was more than a 40 per cent increase in the number of bidders and a jump in the total number of successful buyers at the sale. A number of new vendors had consigned equipment at the event for the first time.

“We are absolutely delighted about how this sale has gone, firmly placing our Dubai operation in the region and on the calendar,” stated Jonnie Keys, Euro Auctions’ commercial manager.

Over 400 lots went under the hammer in a packed day, attracting strong interest from right across the Middle East as well as from India, Western Europe and Russia. Almost $2 million of all sales were snapped up UAE based bidders with significant purchases going to Oman and Saudi Arabia. Europe accounted for a further $700,000 of the total hammer with key consignments going to bidders in Germany, the Netherlands and the UK. Floor sales on the day accounted for the vast majority of business with just over 20 per cent having been transacted online proving that physical presence in the region is vital.

Keys said an ever-expanding portfolio of vendors was entrusting them to achieve strong hammer prices for them when disposing of equipment. Also popular is the full service Euro Auctions offers.

“We’re also now signing up a number of the key equipment holders across the region as they look to use our facilities moving forward and this is only positive for bidders as the quality and quantity and variety of used merchandise coming to auction will only improve,” he added.

Notable lots that went under the hammer at the recent Dubai sale included an unused 2016 Volvo EC210BLC excavator which went for $75,000; Telehandlers and loaders were also in good supply with a 2008 JCB 540-170 selling for $43,000 while a low hours 2015 CAT 966 went for $147,500.

Keys said the next Dubai auction was on March 5, 2018. Other upcoming Euro Auctions sales include a one-day sale in Brisbane, Australia, on February 8; and the Winter Kissimmee, Florida sale in the US from February 13 to 17. There will also be another auction in Hong Kong with a provisional date set for late March.

Euro Auctions has leased a 91,000-sq-m site in the Jebel Ali Free Zone that includes a purpose-built auction complex covering over 3,000 sq m with a 360-seat, air-conditioned auction arena as well as ancillary buildings, workshops and infrastructure.