Euro Auctions in debut Dubai sale success

Euro Auctions, the leading international auctioneers of construction machinery and agricultural equipment, recently held its first ever sale at the company's new permanent site in Dubai, UAE, where bidders packed into the impressive sales arena, confirming Euro Auctions’ successful arrival in the Middle East. A total of 448 lots went under the hammer at this inaugural sale from an initial 50+ consignors, the majority of whom were local and were entrusting Euro Auctions to market their equipment for the first time, said the company in a statement. Approaching 500 bidders registered for this sale, many from across the region and around a third of whom were new to the Euro Auctions experience. Over 50 were successful first time buyers and over 25 per cent of sales, both by buyers and by value, were transacted via the internet. Much of the equipment will be remaining in the region, with buyers from the UAE snapping up over 65 per cent of the equipment on offer, closely followed by buyers in Saudi Arabia and Oman, together accounting for a further 10 per cent, stated the leading international auctioneer. In total, buyers from 45 countries registered for this sale with bidders in the UK and from across Europe collectively accounting for a further 20 per cent, while bidders in Asia also placed successful bids. On its debut sale, Jonnie Keys, the commercial manager at Euro Auctions, said: "We are delighted with both the reception and the support we have received in establishing a new sales facility in Dubai and in delivering our first successful auction here." “We have long wanted to expand the Euro Auctions brand into the Middle East, and in particular into the UAE, as part of our continued global development. In Dubai we have a strong and stable operating base that will add another four sales per year to our international calendar,” noted Keys. Euro Actions has leased a 91,000-sq-m site in the Jebel Ali Free Zone that includes a purpose-built auction complex covering over 3,000 sq m with a 360-seat, fully air conditioned enclosed auction arena as well as ancillary buildings, workshops and infrastructure. "The company has all the necessary services and logistic licences in place for the new venture and will trade under the Euro Auctions brand," noted Keys. "We already have many excellent relationships with buyers and sellers across the Middle East and Africa but having a permanent presence in the region is opening the door to many new buyers and sellers, some of whom committed to our next event before even leaving the first,"