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Dubai auctions prove popular with plant and machinery buyers and vendors.
Euro Auctions, the global auctioneers of industrial plant, construction equipment and agricultural machinery, continues to build upon its success in the Middle East. Its latest Dubai auction in early March drew in an ever increasing number of bidders looking to acquire fantastic deals from the prestigious array of quality equipment being offered.
The recent one-day sale resulted in a final hammer total of almost $3m, 30% of which was transacted online. Average lot prices were up over 20%, reflecting the improving quality of the equipment being consigned to the auction by the ever expanding number of vendors. 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 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,” stated 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.”
About the auction Dubai facilities
Euro Actions leased a 91,000m² (22 acre) site in the Jebel Ali Free Zone that includes a purpose built auction complex covering over 3,000m² with a 360 seat, fully air conditioned enclosed auction arena as well as ancillary buildings, workshops and infrastructure. Euro Auctions has all the necessary services and logistic licences in place for the new venture and will trade under the Euro Auctions brand.