The equipment auctioneer says market confidence was still high at the recent four-day sale in Leeds with 5000+ lots of quarrying, construction agricultural and industrial equipment being sold. With a hammer total of just over £42m this sale was 25% up on the same sale in August 2021, which Euro Auctions says shows confidence in the auction process, and sellers realising strong prices with lots of fresh kit in the sale which pleased buyers.
The floor total for the sale was just over £12m with online sales being £30m representing 71% of the total sale, and the total for the timed-ring auction being £600,000. Registered vendors for the sale numbered 531, from 22 countries, with over 11% of buyers being first-timers and new to Euro Auctions. In addition, at this sale, the numbers of lots on sale were 10% over the same sale in August 2021, with the average lot price up by 25%
Chris Osborne, sales manager at Euro Auctions comments: “With high demand from the market, prices were strong at this August 2022 sale, and over the same auction 12 months ago demand was higher, prices were better, the levels of stock for sale were greater and demand from around the world was more evident."
He added that very fresh low hour machines (for example less than two years old and up to 2,000 hours) are achieving particularly strong prices at the moment and are the closest alternative to new equipment, as certain models are still unavailable.
“Articulated dump trucks are also in particularly high demand right now," Osborne says. "There is a shortage of trucks globally, with very long lead times for new models, particularly from Cat and Volvo, so again, prices are strong now for fresh low hours models. We saw that with the 2019 Cat 730’s and the 2019 Volvo A30G that made fantastic money for the sellers. The theme was the same with older trucks throughout the range still achieving higher prices than we had anticipated. Excavators of all models were also in high demand, and we had good stock across all makes and models.”
With the market starved of new stock over the last 24 months, Osborne adds that production from OEMs is moving again with brand-new machines now coming out of the dealerships fulfilling orders.
"We had 769 excavators at this sale, which is an all-time record," he says. "Many of these machines will have been entered into the auction by a consignor taking delivery of new stock, or dealers that took these machines in as part exchange. We are delighted that so many businesses in the UK have faith in Euro Auctions to maximise the return for their used equipment through our simple but very effective auction process.”
