Euro Auctions continues its global expansion with the first sale in the new corporate HQ in Abu Dhabi attracting a global audience of buyers and sellers to participate in this record-breaking sale.

 

Euro Auctions continues to go from strength to strength with the new corporate HQ sale site in Abu Dhabi. This most recent auction showed the interest that Euro Auctions have created in the in the Middle East producing a magnificent result.

 

With the hammer total doubling the revenue over the same sale in June 2023 and increasing the number of vendors by 95%, the number of consignors doubling, increasing the number of first-time registered bidders for a Euro Auctions sale in the UAE, and increasing vendor countries by 300%. With the appetite to be the number one auction facility in the Middle East this sale indicates that Euro Auctions is firmly on that trajectory.

 

Average lot price doubles

With nearly five hundred lots for sale, the average lot price was double that of the same sale in June 2023, indicating that through the Abu Dhabi auction, Euro Auctions is selling more big-ticket items than in the previous 12 months. 

 

This Euro Auctions sale attracted vendors from across the Gulf, India, China, Africa and East Asia, and while online buying is strong at all Euro Auctions sales, it is still the preference of Middle East buyers to attend live sales and bid in person on the day, with 47% of buyers transacting bidding online. First time registrations to buy with Euro Auctions increased by 20%.

 

The top buying countries were: UAE, UK, India, Saudi Arabia, Qatar, Norway, Nigeria, Morocco, Kenya and Jordon.

 

The top buying regions were: Middle East 82%, Africa 6%, UK 5%, Asia 3.6%, Europe 2.25% and North America 1%.

 

Four to six sales a year

Richard Sweatt, General Manager for Euro Auctions Middle East and Asia, comments: “We welcomed the world to our new Gulf HQ in Abu Dhabi and this resulted in a record sale. This new site in the Khalifa Economic Zone is pivotal to our expansion in EMEA and East Asia and we plan to host 4 to 6 live sales per year on this site. Specialising in the sale of high value construction machinery and commercial vehicles, our new facility in Abu Dhabi provides us with the opportunity and the appetite to further develop within the region.”

 

“This was a record sale for Euro Auctions in Abu Dhabi and in all statistics we saw substantial growth. The sales total was a 12-month high, with a 20% increase in the number registering, with bidders from Scandinavia to the Far East including the Gulf, East West and North Africa, every country in central and eastern Europe, the USA, Canada and Australasia. Euro Auctions does have extraordinary global reach and once a seller or buyer trades with us, there is a loyalty and this is a real testimony to the like and faith that buyers have in the Euro Auctions brand.”

 

“The value of individual lots is increasing at each sale, selling higher value, quality units, and we are attracting many new consignors as our customers see the benefits of selling with us. We are also seeing good consignments coming from outside of the UAE to meet the demand for fresh and low hours machines that buyers in the Gulf want. 

 

“Euro Auctions’ strength is in its network of sale sites and our teams of sales managers who are globally connected. We attract good consignors and vendors because of our ability to sell to a large global audience, with over 250,000 unique clients and selling into over 100 countries, we are able to attract a very serious buying audience.

 

Increase in vendor numbers

“In the Gulf, in the last 6 months, we have seen an increase in the number of vendors using Euro Auctions who have never previously sold at auction, coming to us for the first time. So, this is a real testimony to the trust that sellers put in us to achieve the best price possible and Euro Auctions always achieves true market value for the sellers’ machinery.

 

“We want sellers to sell with us, and we want buyers to buy from us because, not only do we offer some of the most competitive rates of commission in our sector, but we have one of the best facilities thus attracting the best machines and the best inventory for our buyers.”

Euro Auctions continues to expand globally with the acquisition of the Michener Allen group in Canada, Euro Auctions now spans 4 continents, with auction sites in 8 countries, operating 12 sites and selling over 150,000 lots each year.--TradeArabia News Service