Euro Auctions, the global auctioneers of industrial plant, construction equipment and agricultural machinery, reported a 40% increase in the number of bidders and a rise in the total number of new vendors and buyers at the second auction held at Euro Auctions’ new Dubai site in December 2017.
Over 400 lots went under the hammer in a single day, and the event attracted strong interest from across the Middle East as well as India, Western Europe and Russia.
Almost $2m worth of sales were snapped up by UAE-based bidders with significant purchases also going to bidders from Oman and Saudi Arabia.
Europe accounted for a further $700,000 of the total hammer with key consignments going to bidders in Germany, the Netherlands and the UK.
Floor sales on the day accounted for the vast majority of business with just over 20% being transacted online, proving that physical presence in the region is vital to meet local demand.
Notable lots that went under the hammer at the recent Dubai sale included an unused 2016 Volvo EC210BLC excavator which went for $75,000.
Telehandlers and loaders were also in good supply with a 2008 JCB 540-170 selling for $43,000 while a low hours 2015 CAT 966 went for $147,500.
Euro Actions leased a 91,000m² site in the Jebel Ali Free Zone that included 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.
Jonnie Keys, Euro Auctions’ commercial manager, said: “Having a permanent presence in the region is opening the door to many new buyers and sellers and enabling us to better link together our global operations so we can offer a complete service and sell equipment in the markets where they are most desired and where they will achieve the best prices possible. Having a strong sales and support team here on the ground in Dubai, backed up by our international operations, has been a key factor in our success and was a key part of our growth plans for 2017 along with founding our successful new operation in Hong Kong.”