Euro Auctions saw the hammer fall on almost 1100 lots at its two-day end of year sale in Dromore, Co Tyrone recently, achieving a total hammer price of over £2.8m.
In line with expectation, the majority of consignees along with many of the 700+ bidders for this auction hailed from the UK along with a good spread of people from across Europe, but there was also strong representation from North America which acquired 5% of the total sale hammer.
This reaffirms US buyers’ growing interest, demand and appetite to acquire good quality used plant and machinery and with the stronger buying potential of the dollar against the pound, willingness to export it back to the States. Online bidding also accounted for over a third of all sales and increasingly opens up additional access to auction markets around the globe.
A total of 280 buyers made successful final bids during the two-day sale with the UK and Republic of Ireland taking the top slots in terms of bidders and buyers. There were also a good proportion of first time bidders, over half of whom placed successful bids, and many of the bidders that had registered for previous auctions were also successful first time buyers at this sale.
“2016 has been a fantastic year for Euro Auctions around the globe as confidence within the construction, mining and allied sectors returns and many of our international customers look to update and replace their plant portfolios to meet the growing contract and operational requirements,” stated Jonnie Keys, Operations Manager for Euro Auctions’ global activities. “We delivered over 30 main sales at our established auction sites around the globe plus conducted a number of special one day sales this past year; transacting over 70,000 individual pieces of plant and equipment, collectively worth approaching £300m and we’ve some really exciting and ambitious growth plans for the coming year.”