Euro Auctions has revealed the success of their Leeds sale, held from 31st July to 3rd August 2024. The sale, which featured over 7,500 lots from 650 vendors across 25 countries, achieved a hammer total of £41.2 million.
Key Highlights of the Midsummer Sale:
The auction included over 7,500 lots from 650 vendors, with 580 of those vendors based in the UK. This diverse range of heavy plant and machinery attracted buyers and sellers from around the globe. The sale attracted first-time vendors to Euro Auctions, representing 10% of the overall vendor base.
In terms of buyers, the sale saw participation from buyers across various regions, with 44% of buyers coming from the UK, with 49% of buyers from Europe and the remainder from the rest of the world. The top buying countries by hammer total were the United Kingdom (£18.3 million), Republic of Ireland (£6.5 million), Spain (£2.1 million), Poland (£1.9 million), and Belgium (£1.9 million).
Online bidding accounted for 72% of the overall sale activity. Of the 1,500 buyers, 83% placed their bids online.
“We are thrilled with the outcome of our Midsummer Sale, which once again highlights Euro Auctions’ unparalleled ability to connect buyers and sellers from all corners of the globe,” said Johnny Keys, General Manager for Euro Auctions. “The strong participation, particularly from online bidders, and the high level of engagement from both new and returning vendors, underscores the effectiveness of our auction platform and the trust our clients place in us.”
Chris Rankin, Commercial Vehicle Sales, Euro Auctions commented, “It’s widely accepted that the haulage sector in the UK has slowed down in terms of both new and used trucks being sold, with prices across the board remain firm, with no significant surprises. However, good, clean examples of premium brands such as Scania, Volvo, and DAF are still fetching very strong prices. It’s generally acknowledged in the market that many other outlets may not be achieving realistic resale prices at auction. However, due to the volume and selection of commercials offered by Euro Auctions at each sale (typically over 1,000 commercial trucks, including but not limited to tractor units, tippers/grab wagons, beavertail plant trucks with and without cranes, sweepers, hook loaders, and skip wagons) with our unreserved auction policy, we consistently turn vehicles into cash, quickly and efficiently.”
Low Loaders – Good News
“While good, clean, fresh low-loaders and step-frames are still commanding strong prices, recent legislative changes have impacted the value of 9-foot-wide step-frame trailers. We’re now seeing a spike in the prices these trailers are achieving at all our auctions.”
Tipper Volumes Up
“We have seen larger volumes of 8-wheel tippers going through the auction this year, with a batch of 25 Volvo FMXs recently sold to multiple buyers in Cyprus, once again proving Euro Auctions’ global reach, not just in Construction Equipment but also in the commercial side of the business.”
Beavertails & Crane Trucks in Demand
“Hiab-mounted trucks and beavertails are still in demand, with the rising costs of new trucks and build times still being 6-12 months, depending on the specification. This most recent auction in Leeds presenting some noteworthy examples selling well, including: 2018 Scania R580 6×2 Double Tag 80t unit, achieving £60,000 and a 2019 Scania G450XT 8×4 Tipper, achieving £71,000.”