The Euro Auctions, Dubai, sale to proceed in June despite Covid-19

Euro Auctions has made the made the decision to progress with the Dubai sale using the format recently put in place at its permanent sites in the UK, Germany and Portugal. With consignors committing to the upcoming auction in June, with machinery already in the Dubai sales yard ready for sale

With consignors trusting Euro Auctions to gain best price for their equipment and machinery, a closed-door sale conducted live via the internet, will provide the same excitement as the real sale. With video clips and photography of all lots for sale, will be streamed live on the Euro Auctions online sales platform, giving bidders the feel of a live auction.

Controlling the sale in 'real time', a team of 'live' auctioneers operating from the USA offices will be the 'glue' that bonds all the elements of the sale together. The IT department in company HQ in Northern Ireland, will facilitate,  providing the platform for the sale.

Derek Bleakley, Euro Auctions, General Manager, Euro Auctions Dubai comments, "In the last 24 months, we've been working hard to get to know consigners and buyers in the Middle East and working with them to establish good working relationships and trust. We have regular consignments of good stock coming through the auctions, in the right quantity and of a quality that buyers want. And in doing this, we are getting happy customers who are returning to Euro Auctions to sell and buy at each sale. This has contributed to an uplift of over 100% in all statistics over the same sale in March 2019. So, maintaining momentum with our programme of sales is vitally important, and listening to our customers comments, the conscious was that we proceed with this auction."

Bleakley continues, "The 100% increase in sales and activity we have seen across the board over the last 12-months, we believe, is an indicator that we are looking after our customers well. I am often asked what sets Euro Auctions apart from its competitors? I think it is because we are realistic in our valuations of machinery and equipment, as opposed to over-valuing, only to disappoint consignors when the hammer goes down. That alone brings repeat consignors. Secondly, our transparent commission structure lets our consignors know exactly what they are going to pay in costs before the sale, with no hidden charges, for ancillary items such as: fuel, washing, unloading, loading, just to name a few.

With the industry wondering what will happen after the pandemic, one can ask what the will be the first indication of a healthy market?  With OEMs halting the manufacture of new equipment and machinery, the used market will possibly burgeon, with prices strengthening for good late and low hours machines. When construction and infrastructure projects resume after the pandemic, there may well be a shortage of machinery due to the hold put on fleet replacement programs and the sale of plant to generate cash flow. Hire businesses will want to replenish their stock levels, as they do on a regular basis. Construction companies will be buying for projects, and new equipment will be in short supply. As a result, buyers will be looking to the used machinery markets and, auctions, which is good for sellers.

Derek Bleakley concludes, "The sale on 29^th June is much anticipated in the region, regardless of the Covid-19 pandemic. The market was improving in 2019 and into early March 2020. Growth was positive, demand for quality machinery was showing green shoots, and the demand was evident. Euro Auctions has the confidence of the consignors, and the trust of the buyers to present for sale some of the best used equipment on the market. Again, since, mid-2019 there has been a marked 'up-take' in the market for good machines, however contractors and rental companies in the Middle East have been buying relatively low levels of new machines for the last 4 to 5 years and as a result stocks of plant are aging. Not buying through dealerships, buyers have turned to auctions for good late year machines as well as new unused stock."

Consign now for 29^th June Euro Auctions, Dubai sale

Machinery owners interested in consigning equipment to the next Dubai should contact the permanent sales teams:

• In the UAE on Tel:  00971 488 46 880 or via fax on 00971 488 46 881
• For information on other auction sites operated by Euro Auctions, visit www.euroauctions.com alternatively email [email protected] or on +44 (0) 2882 898262.