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After Covid-19 will the used equipment market burgeon?

Conducting over 60 major unreserved auctions every year around the globe, and operating from 10 permanent auction sites in eight countries, on four continents and marketing equipment to buyers and sellers in over 95 countries, Euro Auction has built a 'world leading' reputation on the international used machinery auction stage.

With a permanent sale site in Brisbane, Euro Auctions has shown the market in the southern hemisphere, that auctions are no longer a place to send low value items. Good, late, low hours equipment is on offer at all of the sales hosted by Euro Auctions, in addition to many un-registered models of a broad range of equipment.

Following the global down turn in 2008, when OEMs stopped manufacturing new machines, auctions were the place where contactors, civils companies and hire specialists went to look for good items to rotate and replenish stock. And today, the same holds true.  The experience of attending big plant and machinery sales, is like visiting a super dealership, a 'one stop shop', where every make and model of machine or piece of equipment can be seen in one place, offering the buyer excellent choice across all makes and models. 

With Covid-19 affecting the global economy, what will happen to the global used plant market in the next 12 months? With many OEMs ceasing to manufacture new machinery, what will happen when demand increases?  Will OEMs be unable to meet demand as happened in 2008. In the UK JCB stopped production at all its UK manufacturing plants as disruption resulting from the coronavirus pandemic, with manufacturing shutting down to protect the work force. JCB’s plant in Pudong, near Shanghai, ceased production in February as the impact of the pandemic took hold. Caterpillar has also ceased it production in China, where since the early 1970s has manufactured excavators, wheeled loaders, track-type tractors, motor graders and medium and large diesel engines. When the economy does return, OEMs may struggle to respond, to the market demand, and like in 2008, the used machinery market is likely to soar.

Euro Auctions sales offer excellent choice of machinery, ranging in years, varying in number of hours and number of owners, giving the buyer access to many types of the same machine, enabling buyers to find machines that match their budget. Now with robust online bidding platforms for all Euro Auctions sales, buyers around the globe have even more choice, and can participate in any Euro Auctions sales.

What happens after Covid-19? Watch the marketplace and focus on Euro Auctions Brisbane, and lest see how the market changes.

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