Euro Auctions see pick up in demand

Construction equipment auctioneer reports brisk bidding and strong demand at recent events

INDICATIONS that the construction sector is picking up has been particularly evident at several recent auctions which have witnessed a resurgence in demand, say construction equipment auctioneers Euro Auctions.

At the company’s three-day event in Leeds in late August, almost 4,000 lots went under the hammer – the highest number sold at their Leeds auctions to date – achieving more than £26.6 million. In addition, the number of vendors, bidders and first-time buyers from across the globe were all up and a fifth of all sales were secured via Internet bids.

Likewise, the auction in Dormagen, Germany, in early September also demonstrated encouraging results with the overall hammer price increasing on the previous sale by €7.28 million. The overall number of lots sold was the highest at any Euro Auctions Dormagen event, and there was a significant increase in the total number of bidders and buyers participating in the auction, with more than 50% of bidders taking part via Euro Auctions’ free Internet bidding service.

‘The global appetite for good-quality used equipment is definitely on the up and this is reflected in what is now coming to auction,’ commented Euro Auctions’ Jonnie Keys. ‘We are ideally placed to meet this demand from our operations around the globe.’

Euro Auctions have upcoming auctions scheduled in: Dromore, Co. Tyrone, 4–5 October; Leeds, 23–25 October; Dormagen, Germany, 14–15 November; and Valencia, Spain, 27 November. Further afield, auctions are scheduled in Atlanta, US, 16 October; and Brisbane, Australia, 7 November.