It was another record breaking three-day auction in Leeds this August for Euro Auctions, the UK’s leading auctioneers of industrial plant, construction machinery and agricultural equipment. A final hammer total of £40,725,000 was achieved based on a total of 4,738 lots, making it the largest single used plant and equipment auction held anywhere in Europe in recent years.
“We are extremely pleased with the outcome of the Leeds auction, which saw a number of records broken,” says Jonnie Keys, Operations Manager of Euro Auctions. “We are pleased to break the £40 million barrier, but equally we are pleased with the record number of first time registers and the first time buyers that attended the auction,” says Keys. “This can be attributed to the massive show of equipment available from around the world and in particular consignments from some of the largest rental companies including Ardent, Charles Wilson, Lynch and A-Plant, as they continue their aggressive plant renewal programmes. Also pleasing to see was equipment being sold to all continents which demonstrates the recovery in the construction sector around the world and in particular the South American countries which have been slow for a while now.”
A record number of 522 vendors from across the globe, including almost 50 first time consignors, entrusted Euro Auctions to maximise interest in their equipment through our sustained pre-auction marketing and achieve the best hammer prices. By attracting and presenting desirable lots we also achieved an excellent turnout with over 2,200 bidders participating from 70 countries – again numbers that are record highs for this auction. Buyers from across the UK, Ireland and Europe again topped the tables but we saw significant added interest from the USA, the Middle East and Australasia with almost 1000 buyers coming from all continents across the world.
Around 60% of all winning bids were placed by bidders actually attending the event and over 100 of the 160 plus first time registered bidders also placed their first winning bid. That said, we find that many buyers prefer a mix of onsite and online channels; with many coming along on day-one to inspect equipment, making preferred choices and then opting to purchase online, if they cannot attend all three days.
With excavators being the largest single category of equipment in this auction, there were no fewer than 693 to choose from; probably the largest number of excavators ever assembled for sale in the world. Included in this were almost 300 mini excavators, 110 6+ tonne, 117 10+ tonne and almost 150 20+ tonne excavators. Many were high specification, low hours, late registration models. Also included in this sale were a good choice of over 250 telehandlers, around 50 of each backhoes, dozers, forklifts, skid-steer loaders and articulated dump trucks, plus over 100 wheeled loaders and wheeled excavators – so something for everybody. Top hammer total went to a 2014 CAT D6T selling for £187,000.
“Leeds is now regarded by many around the world as the place to buy excavators because of the choice and quality available,” says Keys. “It is really pleasing to see both buyers and sellers happy with the outcome of the auction which bodes well for our upcoming auctions, with many machines already consigned to the next Leeds auction on 18th-20th October, which promises to be another massive event.”
Agricultural tractors also featured at this auction with over 60 units being consigned including a 2013 New Holland T7.210 which went for £42,000. This auction also featured 249 lots of commercial vehicles and trailers, plus an array of scissor lifts, cherry pickers and a handful of cranes. There was also crushing and screening equipment and all manner of miscellaneous small plant, including generators, over 180 compressors and various other related plant and equipment.
“The currently depressed Pound against the Euro and Dollar has certainly made the UK a rich and attractive shopping location for many looking to acquire quality equipment,” says Keys. “This, coupled with the massive choice of quality equipment on offer led to it being a hugely successful sale.
“Euro Auctions is now a truly international player and we are seeing strong interest in all our auctions around the globe. We have two new locations, Dubai and Hong Kong, both holding their first sales in September, further expanding our reach and appeal.. Our online presence is also attracting significant interest and traffic to our website during the three-day sale was up over 25% on the previous auction with an almost 40% increase in new users to the site. Compared to the same period last year traffic was up over 30%.”