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Machinery News

Euro Auctions opens Middle East office

Euro Auctions has announced the addition of a permanent sale site in Dubai, giving the auctioneer of industrial plant, construction equipment and agricultural machinery a foothold in four continents.

The firm has leased a 91,000 square metre (22 acre) site from the Jebel Ali Free Zone Authority (JAFZA) that includes a purpose built auction complex covering over 3,000 sq metres with a 360 seat, fully air conditioned enclosed auction arena as well as ancillary buildings, workshops and infrastructure.

Euro Auctions has all the necessary services and logistic licences in place for the new venture and will trade under the Euro Auctions brand.

“As part of the continued global Euro Auctions brand expansion, the Middle East, and in particular the United Arab Emirates, was always the next country in which to establish a strong and stable operating base,” said Jonnie Keys, Euro Auctions, Commercial Manager.

“We have many good relationships with buyers and sellers in the Middle East and Africa and this new auction location will enable us to create stronger relationships with our customers in this region and open the door to many new buyers and sellers.

“We have seen increased participation in our European and American auctions from the Middle East region over the past year and in particular in the last six months and indeed have had numerous customers who have requested that we take a larger part in this region which this facility will allow in addition to growing our customer base.”

The first Euro Auctions sale in Dubai is planned for September 13 this year, with four sales per year scheduled to follow.

This will provide customers more options and platforms to buy and sell equipment and assets when, where and how they like.

This news follows Euro Auction’s acquisition of USA Heavy Equipment Auctioneer, Yoder & Frey, in December of 2016 which added three additional auction sites and an additional six auctions per year.

Jonnie Keys added: “We are delighted with the performance of the Yoder & Frey brand to date and are looking forward to its growth in the future”.

Euro Auctions regularly hold the largest heavy equipment auction in Europe at its Leeds site in the UK with 4,500 to 5,000 lots sold every six to seven weeks with a hammer total typically over GBP 30mn ($38.12mn).

The company also specialises in off-site sales and recently conducted the world’s largest one day auction of mobile cranes, selling 127 cranes with a hammer value of EUR 32m.