Euro Auctions says prices remain strong as 2021 ends

Euro Auctions says that the demand for used off-road machinery remains as strong as ever, as the auctioneer completed its last sale of 2021.
Loading, Hauling & Excavation / January 4, 2022
By Liam McLoughlin
Euro Auctions says larger equipment items such as 10 and 20-tonne excavators and ADTs are currently attracting the attention of buyers
Euro Auctions says larger equipment items such as 10 and 20-tonne excavators and ADTs are currently attracting the attention of buyers

It says that 3,500 lots went over the ramp with a value of £30m in the sale at its flagship site in Leeds, UK, with buyers still keen to acquire 12- to 24-month-old machines.

Compared to the same sale in December 2020, the average price of each lot was £8,540, which showed an increase of over 35%.  Vendor numbers were high with 10% being new to the Euro Auctions sale, with sellers from 17 countries consigning equipment to this sale. The home UK market represented the largest group of vendors, a trend Euro Auctions says it has seen across all sales this year.

One notable single vendor at the Leeds sale was Brian Doogue Haulage. Following the closure of the M1 Smart Motorway project, which Brian Doogue had been contracting to, it engaged Euro Auctions to dispose of its entire UK fleet of 30+ highly specialised vehicles with a hammer of just over £4m.

Euro Auctions territory manager David Betts says that, in terms of market trends, it was the larger equipment items that were grabbing the attention of buyers. These included 10 and 20-tonne excavators, articulated dumptrucks (ADTs) and heavy commercial vehicles.

"Having said that, the market is still starved of new machines, and it's predicted that OEMs still will struggle to deliver in 2022," Betts added. "So, good, late, low hour machines are of premium interest to buyers. The Brian Doogue Haulage consignment of heavy commercials was a case in point and was certainly one of the highlights of the sale, with great 2019, 2020 and 2021 trucks of exceptional spec and in excellent condition, bidding was extremely brisk. Talking to buyers it was evident that contractors and operators whilst sourcing equipment for specific projects, they were snapping up good kit as it came over the ramp, due to market shortages."

Approved bidder accounts at Euro Auctions sales continue to increase, with this sale being no exception. Over the same sale in December 2020 the number of first-time bidder registrations increased by 13%, with 25% of that number buying at this sale. Euro Auctions says this shows buyers continue to support its brand.

With Covid restrictions still in place, this sale was a physical auction, as well as being conducted live and 'online' via the roust bidding platform that Euro Auctions operates. This now popular format gives buyers the chance to view machines for sale and then bidding via the internet, with over 70% of lots sold online.

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