The construction machinery, agricultural equipment and industrial plant auction specialist says that demand for good used equipment and machinery is "higher than ever" with buyers in the two countries.
Chris Osborne, territory manager for the UK & Ireland, says that home market buyers are out-bidding those from Europe and the rest of the world. The company is holding its latest sale in Leeds, UK from 16-19 June.
"The UK demand for good, late, low-hours used equipment and machinery has burgeoned during the last 12 months with no sign of demand slowing down," Osborne says. "Since the Covid lockdown and a slowdown in manufacturing, OEMs and main dealers have been running low on stock, with delivery times of new machines now stretching into 2022, driving interest in good used equipment, not just in the UK, but globally.
In Q1 of 2021 Euro Auctions says there was a dramatic shift in buying, with buyers from the UK & Republic of Ireland bidding stronger and eclipsing buyers from Europe and the rest of the world. It adds that prospective buyers in Europe have the same appetite for good equipment as buyers from the UK and Ireland and are registering for the Leeds auction in increasing numbers, however it is the local home market that is stronger in resolve out-bidding international buyers, with UK consignors delighted and particularly pleased with the results and prices being achieved at all sales.
Euro Auctions says that, at all its sale sites across Europe, bidders from the home countries are now bidding stronger at their own home sales than in the previous years.
Osborne commented: "The UK market has strengthened as the construction, haulage, waste and agricultural industries in the UK have kept a busy work schedule throughout 2020 creating the usual demand for new machines.
"With access to cheap Government funding through the 'Coronavirus Business Interruption Loan Scheme' (CBILS), end users have had the opportunity borrow with low interest rates, re-investing in their businesses, and bidding hard for one-year old machines.
Regarding Brexit, Osborne says that Euro Auctions has been working with HMRC and its clients around the world to ensure that there has been little disruption to the buying and selling process.
"Whilst our online sales through our dedicated auction platform have burgeoned during Covid, we do try to cater to the entire market and that is why we continued to host live, Covid-compliant, equipment sales at our flag-ship site in Leeds," he adds.
A typical Leeds sale sees over 5,500 pieces of machinery go over the ramp.
"At the last sale we had over 500 excavators for sale, many of which were new unregistered machines, as well as late, low hours lots," says Osborne. "It is this that our customers like, having the chance to see so many types, makes and models of equipment at one sale site."
With new stocks depleted, the company says auctions have become a vital alternative to main dealer services giving buyers a wide choice of makes and models that buyers may inspect, try and buy, putting to work, and earning money immediately. It adds that new bidders and buyers are evident at all sales, with approximately 1,000 new bidders registering for every auction, and 20% buying for the first time each sale.
Euro Auctions expects to see this trend of increased demand and reduced availability in the UK to continue through the majority of 2021. Once new supply from OEMs does catch up, it says this may ease, but with lead times for new machine and vehicle orders stretching into 2022 the market shows no real sign that demand for good used machinery will slow down during 2021.