The24/7 Daily Marketplace by Euro Auctions is an online platform for buying and selling equipment, in real-time, for consignors and buyers from around the globe. The marketplace is an alternative channel to the traditional schedule of live auctions that Euro Auctions host and can be accessed via the link on the Euro Auctions website at www.EuroAuctions.com
The underlying principles of the 24/7 Daily Marketplace are: its hassle free, it offers a wide selection and variety of equipment for sale globally, it allows prospective buyers to make an offer or buy immediately, it enables buyers to purchase outside of the normal Euro Auctions calendar of live or timed sales, buying equipment when it suits their needs.
For vendors the benefits are many: There are no transportation costs, as equipment sells where it stands. Sellers can market equipment when it suits, not being tied by physical or timed auction dates. Items for sale can be kept on the platform until the sale date meaning the item remains productive while it sells. The platform has high exposure to a worldwide buyer base through constant marketing activity, where specialist and niche items can be introduced to the right buyer at the right time. The overall process is more comfortable for the for seller, who can choose what price to sell at, not being an unreserved sale.
Ideal for Projects Managers needing to dispose of machines and equipment at the completion of a project, being able to load the complete inventory to the 24/7 Daily Marketplace platform. For banks, financial institution, or insolvency practitioners who can now sell inventory in a comfortable environment. Plant dealers can manage their stocks, releasing and adding to inventory quickly and timely. Rental companies can use the platform to flex their fleet and manage demand without waiting for a physical auction. The platform suits the entire industry, right down to contractors needing to free up stock and release ‘cash’.
How It Works
Vendors register on the 24/7 Daily Marketplace platform, following which the machinery for sale is listed on the platform. A Euro Auctions ‘Territory Manager’ will value the equipment either in person, or from photographs or videos, after which contracts are completed with defined timescales on sale options. A detailed equipment inspection report is completed with photos / video after which the seller’s equipment or machinery is published online.
For all equipment for sale, the Euro Auctions marketing team implements a marketing campaign for the equipment, on web, on various industry machinery portals, on posters at various EA sale boards plus targets social media campaigns. The sale begins for the agreed duration and when sold, the successful buyer will pay Euro Auctions. The equipment is released to the buyer following which the seller is paid.
Russell Robinson, from Euro Auctions comments on the success and diversity of the 24/7 Daily Marketplace “The 24/7 Daily Marketplace has true global reach, with recent transactions highlighting how consignors can find buyers for niche equipment. We recently completed the sale of a 2nd Foeckersperger Cable Plough originating in Australia to a customer in the UK for USD$360k.
Two Sercel DX-80 Seismic Survey Vibrator Buggies in Dubai were sold to a customer in Oman. We’re also in advanced stages of brokering deals for a Kobelco SK850LC in Hong Kong and aIHI DCH 80-Ton Crawler Crane in Egypt. In the last 4 weeks we’ve also successfully brokered deals for 14 Ex-UK MOD vehicles located in Germany to customers in Sweden, The Netherlands, Austria & USA, as well as concluding the sale of 2Soilmec SF50 Drilling Rigs in the UK.”
“When equipment is considered niche, we can leverage the reach of the 24/7 Daily Marketplace in parallel to the physical auction channels, attracting the right profile of buyer. Or, when the size and location of the equipment is prohibitive in terms of transport and shipping, the 24/7 Daily Marketplace platform will address these issues bringing a whole new cross-section of potential customers into play. Given the huge level of traffic that euroauctions.com receives each day it means listing equipment on the 24/7 Daily Marketplace a very attractive proposition for Vendors.”
The 24/7 Daily Marketplace allows Euro Auctions to engage directly with the potential buyers quickly, to achieve an immediate understanding of price expectations, as well as being able to answer any specific questions about the equipment, continual liaising with sellers and providing updates, which is crucial when closing deals.
Machinery owners interested in consigning equipment to the Euro Auctions 24/7 Daily Marketplace need only contact: Russell.Robinson@euroauctions.com