Gulf Construction Online - Euro Auctions gears up for next sale in Dubai

Events

Euro Auctions’ facilities in Jebel Ali

Euro Auctions gears up for next sale in Dubai

01 May 2018

Euro Auctions, the global auctioneer of industrial plant, construction equipment and agricultural machinery, continues to build upon its success in the Middle East, as it gears up for its next Dubai auction on May 7.

Its previous Dubai auction in March drew in an ever-increasing number of bidders looking to secure fantastic deals from the prestigious array of quality equipment being offered. The one-day sale resulted in a final hammer total of almost $3 million, 30 per cent of which was transacted online. Average lot prices were up over 20 per cent, reflecting the improving quality of the equipment being consigned to the auction by the ever-expanding number of vendors, said the auctioneers.

New bidder registrations for this sale were also boosted significantly by approaching 100 new/first time bidders; around one in three of whom placed successful winning bids, securing the equipment they were seeking.

Bidders came from across the Middle East including the UAE, Lebanon, Saudi Arabia, Jordan as well as from Turkey, Egypt and Pakistan plus there was a strong Western European contingent, with the UK, Netherlands and Spain all well represented.

“The general consensus is that around two-thirds of all the quality equipment sold at the recent auction will be retained in the Middle East for use on emerging projects but a good proportion of the rest looks like it could be returning to Europe,” remarked Jonnie Keys, Euro Auctions’ commercial manager.

“The quality of the equipment being offered in Dubai appeals to global buyers as does our strong market presence, together helping deliver real growth. Both bidders and vendors like what we have achieved in the region in such a short space of time and are backing us to continue to deliver a viable and effective solution for buying and disposing of plant in the region. They appreciate the knowledgeable staff and facilities we offer in Dubai along with our access to quality equipment; coupled with the overall service and global reach Euro Auctions provides,” Keys added.

Euro Actions 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, fully air-conditioned enclosed auction arena as well as ancillary buildings, workshops and infrastructure.

The company has all the necessary services and logistic licences in place for the new venture and will trade under the Euro Auctions brand.

Headquartered in Northern Ireland, Euro Auctions has been conducting unreserved auctions of industrial plant, construction equipment and agricultural machinery since 1998 and today holds over 70 major auctions every year. It has 10 permanent auction sites around the globe in the UK, Germany, Spain, Australia, and the US, with new facilities added in 2017 in the UAE and Hong Kong.

Euro Auctions also markets equipment globally to more than 150,000 buyers in over 95 countries plus offers a robust, secure and free-to-use online sales platform.