Global construction equipment and commercial vehicles auctioneer Euro Auctions has announced that it will formally open its new Middle East headquarters in Abu Dhabi on June 24, coinciding with its second quarter sales event in the region.
An announcement from the company said that as “the Euro Auctions Group continues its global expansion, the opening of its new Middle East corporate HQ in Abu Dhabi for the 24th of June sale will attract a global audience of buyers and sellers of used construction machinery and commercial vehicles”.
The company added that attracting vendors from across the Gulf, India, China and East Asia, the Abu Dhabi site “invites sellers seeking a world audience to trade with Euro Auctions”. And while online buying is strong at all Euro Auctions sales, it is still the preference of Middle East buyers to attend live sales and bid in person on the day.
Next step in Euro Auctions’ global expansion
With Euro Auctions operating 12 global auction sites for the disposal of construction equipment and commercial vehicles – in the Middle East, Europe, Australia, Canada and the USA – the new ‘Gulf HQ’ is the next step in that global expansion, making the Euro Auctions Group the largest privately owned auction business in the world, said the company in its announcement, adding that its aim is to be the biggest in the Gulf.
Richard Sweatt, Country Manager for the Middle East and Asia, explained: “We are delighted to welcome the world to our new facility in Abu Dhabi. As a global business, Euro Auctions has experienced rapid growth in the last two years. With expansion in North America through the acquisition of the Michener Allen group in Canada, the business now spans four continents, with auction sites in eight countries, operating 12 sites and selling over 150,000 lots each year.
“This new site in the Khalifa Economic Zone (KEZAD) in Abu Dhabi is pivotal to our expansion plans in EMEA and East Asia. We are planning 4-6 live sales per year on this site, specialising in the sale of high value construction machinery and commercial vehicles, and Abu Dhabi provides us with the opportunity and the appetite to further develop within this region.
“The value of individual lots is increasing at each sale, selling high-value, quality units, and we are also seeing many new consignors as our customers see the benefits of selling with us. At recent sales, many items sold for more than $100,000, notably bulldozers and dump trucks, with good 70t and 80t excavators fetching high prices. We are also seeing good consignments coming from outside of the UAE to meet the demand for fresh and low hours machines that buyers in the GULF want.”
Strength in the Euro Auctions network
Sweatt added that the company’s strength is in its network of sale sites and its teams of sales managers who are globally connected. “We attract good consignors and vendors because of our ability to sell to a large global audience. With over 250,000 unique clients and selling into over 100 countries, we are able to attract a very serious buying audience,” he said.
The last six months have seen a huge upturn in interest from buyers coming to Euro Auctions for the first time, Sweatt pointed out, as well as an increase in the number of vendors using Euro Auctions who have never previously sold at auctions before.
“So, this is a real testimony to the trust that sellers put in us to achieve the best price possible, with Euro Auctions always achieving true market value for the sellers’ equipment.”
Euro Auctions is seeing a changing audience in Abu Dhabi, Sweatt explained, with buyers coming from across Europe, Africa and East Asia.
“We are seeing trade coming from the Americas and Canada. We are seeing new buyers and new sellers in volume at all our recent sales and the trend shows no sign of letting up. We want sellers to sell with us, and we want buyers to buy from us because, not only do we offer some of the most competitive rates of commission in our sector, but we have one of the best facilities, thus attracting the best machines and the best inventory for our buyers.”
Register for upcoming sales with Euro Auction, Yoder & Frey, and Michener Allen
Euro Auctions Dormagen, Germany 15 – 17 May
Euro Auctions Dromore, Northern Ireland 17 – 18 May
Euro Auctions AMATECHNICA, Germany 23 May
Yoder & Frey Florida, USA 6 June
Euro Auctions Zaragoza, Spain 12 – 12 June 16 April
Yoder & Frey Ohio, USA 13 April
Euro Auctions Abu Dhabi, Middle East 24 June