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Huge leap in bidders and final hammers reported at recent events.
Euro Auctions, the leading international auctioneers of used industrial plant, construction machinery and agricultural equipment, is gearing up for the next on-site auction at its popular Brisbane, Australia facilities on 21st June. This sale is shaping up to continue the massive 100% year-on-year growth trend; and will be followed by a one‑day 'timed online auction' on 19th July.
Euro Auctions’ April auction saw 50+ vendors assign 650 quality lots to the sale with almost 1000 bidders registering to participate with one in seven being first time buyers; almost a third of whom placed winning bids.
“Our Brisbane auctions are increasing in popularity and we are seeing a doubling of the hammer totals achieved in the previous corresponding 12-month periods,” stated Paul Haynes, Euro Auctions’ Territory Manager for NSW. “The hammer total for our February sale was $14m with average lot prices more than doubled to almost $22,000 while the April auction pulled in a further $11.5m.”
“We’ve also seen a big increase in the proportion of sales completed via internet bidding which now account for over a third of all transactions. Then when you factor in our exclusive online ‘timed auction’ in mid-May, which attracted interest from almost 1000 international bidders for the 150+ lots on offer and our growing global appeal is evident. Demand for quality used equipment is definitely on the up here in Australia and the yearly growth trend not only looks to be continuing but also expanding. Strong prices and the expanding number of vendors consigning quality equipment for inclusion in the upcoming auctions means more bidders are keen to participate in these auctions.”
Other international success
This same explosion in interest is also being repeated at other sales run by Euro Auctions around the globe. The recent three-day auction at Leeds in the UK resulted in a hammer total of over £40.5 million, almost 30% up on a year ago. The recent one-day sale at the new Dubai, United Arab Emirates facilities saw average lot prices jump over 20%, reflecting the improving quality of the equipment being consigned to the auction by the ever expanding number of vendors.
The appeal of Brisbane
Each Brisbane auction increasingly draws strong bidders representation from across the continent and New Zealand, from right around the Pacific Rim and even further afield, with bidders being attracted from South Africa, India, the Middle East and even Western Europe. This makes a Euro Auctions sale a truly global event and one that is increasing in appeal.
“We were absolutely delighted with how the start of the year has gone with growth being achieved right across the board in regards to both locations and types of equipment on offer,” added Jonnie Keys, Operations Manager of Euro Auctions. “Demand for quality used and ‘as new’ plant and equipment right around the globe is definitely on the rise. We’re seeing record growth in the overall number of consignors and the number of lots consigned, along with jumps in registered bidders, the number of successful first time buyers, and the average lot prices achieved. Euro Auctions attracts a truly global audience, with our operation in Australia going from strength-to-strength. We have seen a significant increase in demand from the South East Asia market in particular leading to a marked increase in the sale prices of excavators and dozers in particular.”