Euro Auctions says its live auction held in the UK last month for construction and agricultural machinery, commercial vehicles, trucks and industrial equipment, surpassed all previous records with 7,600 items going under the hammer.
Between 24th and 27th April, a world audience focused on the sale site in Leeds, where 690 vendors and 5,200 registered bidders participated in this outstanding auction where 7,600 lots were sold to the highest bidder.
With a hammer total of £53.42m, of which £37.66m sold online and a floor total of £15.81m, vendors from around the world sold equipment and machinery through this Euro Auctions sale. Vendor numbers continue to increase at each sale with 690 vendors sending equipment and machinery to Leeds from 24 countries worldwide, such is the marketing reach, with 10% of those vendors selling with Euro Auctions for the first time.
Euro Auctions says that registrations to bid and buy were received from every country in Europe, plus North America, South America, Middle East, Asia, Africa, and the Caribbean. Top bidding countries were the United Kingdom, Ireland, Poland, Romania and Spain, with 13% of bidders buying with Euro Auctions for the first time and 79% of buyers were engaging via the internet. Buyers from Europe represented 51% of the successful buyers with 45% of buyers from the UK.
Chris Osborne, territory manager Euro Auctions, comments: “We keep reporting, we are having record sales, but this was without doubt the biggest on record and we had no more room in the yard. This sale had the largest number of lots in the inventory that we have ever had at the Leeds auction, with 7,600 pieces of equipment entered for sale. That is 1,100 more pieces of kit compared to the April 2023 sale where 6743 lots were sold. Putting into perspective how Leeds as the premier auction site in Europe has been building, in 2019 we were hosting 4,500 lot sales, now at 7,500 that is a 65% increase in the last five years.
“In terms of pricing we have seen the market level since the end of 2023. Following the COVID hype across markets we’ve seen a normalisation in pricing in the last 12-18 months but since December 2023 to date, we have had five months of consolidation where prices have remained stable, firm and good for buyer and seller alike. When prices are stable, buyers and sellers can have more confidence in trading. In a rising or falling market people who don’t urgently need to sell or buy can sit on their hands and wait not knowing if trading now will produce the best deal.”
Osborne added: “We continue to see consignments of fresh machines on ‘22 and ‘23 plates with big number multiples coming from the from the rental market, which means we’re getting well-maintained equipment. Spring has always been an important time for machinery to change hands. With a lot of businesses that buy new from OEM’s taking delivery of new machines for the season ahead and used equipment buyers looking to take their pre-owned equipment off their hands for their busier seasons, so equipment filters through the hands of all types of businesses.
“We have always referred to Leeds as the ‘The Excavator Capital of Europe’ as repeatedly we sell more excavators than anyone else with over 1,000 plus excavators at each sale, with this sale being no different. With 1,000+ diggers in all classes including a number of particularly large excavators this time selling 7x 50-90T machines.”
