World Wide Auctioneers kicked off their first auction in Dubai since the turn of the year with a bouyant three-day sale this week.
Keith Lupton, VP sales at WWA, said that the auction house cleared $13.9 million of sales and that the healthy presence of buyers showed that there is “some signs of recovery” in the market.
“Telehandlers, graders, tired rollers, forklifts, wheel loaders were all bouyant and in rebound from what we’ve seen in previous quarters,” he said. “Although some categories are still in a post-recession slumber, but the attendees were happy and we’re definitely seeing signs of recovery.”
Lupton said that the auction brought in 123 consignors from 11 different countries. A total of 1367 lots were sold, including 867 static “dead row/non-ramp items”.
He revealed that out of 159 active bidders 23 bid above the $100,000 threshold with 8 bidders spending $300,000 or above.
“It was not spectacular but there are definitely positive signals of rebounding market strength. The auction showes that the market is on the mend the attendees both sellers and buyers acknowledged that. Some categories are still lagging behind the best bysome distance, but we are auctioneers not magicians!”
