The firm says that it has consolidated its Middle East position with its second Dubai sale. According to
The company held its first Dubai auction in September and has now carried out a successful follow-up event that attracted more buyers and vendors.
The firm saw an increase in the number of bidders opting to attend the second sale of more than 40%. The firm now has a permanent site in Dubai and the sale also saw a jump in the total number of successful buyers. There were also new vendors consigning equipment to this event for the first time.
Over 400 lots went under the hammer in a packed day, attracting strong interest from right across the Middle East as well as from India, Western Europe and Russia. Almost US$2 million of all sales were snapped up by United Arab Emirates-based bidders with significant purchases also going to Oman and Saudi Arabia. Europe accounted for a further $700,000 of the total hammer prices with key consignments going to bidders in Germany, the Netherlands and the UK. Floor sales on the day accounted for the vast majority of business with just over 20% being transacted online, suggesting that a physical presence in the region is important to meet local demand.
“We are absolutely delighted about how this sale has gone, firmly placing our Dubai operation in the region and on the calendar,” said Jonnie Keys, Euro Auctions’ commercial manager. “News on our recent arrival in the region and our ambition to be a professional and key player in the used construction equipment sector is certainly getting out and stimulating much discussion. We’re also now signing up a number of the key equipment holders across the region as they look to use our facilities moving forward.”
Euro Auctions leased a 91,000m² site in the Jebel Ali Free Zone that includes a purpose built auction complex covering over 3,000m² with a 360-seat, fully air-conditioned enclosed auction arena as well as ancillary buildings, workshops and infrastructure. Euro Auctions has all the necessary services and logistic licences in place for the new venture and will trade under the Euro Auctions brand.
Keys added, “Having a permanent presence in the region is both opening the door to many new buyers and sellers and enabling us to better link together our global operations so we can offer a complete service and sell equipment in the markets where they are most desired and where they will achieve the best prices possible. Having a strong sales and support team here on the ground in Dubai, backed up by our international operations, has been a key factor in our success and was a key part of our growth plans for 2017 along with founding our successful operation in Hong Kong.”
