Euro Auctions, the UK’s
largest specialist auctioneers of plant, commercial, and industrial
equipment, provides a snapshot of prices for heavy plant and
machinery.
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Price recovery
At Euro Auctions sales in
the UK and Germany during the first half of 2010, it became
apparent that a recovery is underway in the plant market. In some
cases and on certain items of plant, prices have recouped to within
10% of where they were before prices crashed in 2008.
Over the course of auctions in
2008, prices of used plant and machinery dived by 40%, in part
reflecting exchange rate fluctuations. They remained at their low
level until March 2009.
From the start of this year, buyers
from emerging markets were trading up to larger assets of mixed
manufacture, age, hours and classification. These buyers had
developed an appetite for smaller second-hand plant and equipment
during 2009.
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By GlobalDataWith demand in the UK at an
all-time low from June 2008 to June 2009, some manufacture of new
equipment was put on hold, and manufacturers were more concerned
with disposing of redundant stock.
Overseas
buyers
From February to December
2009, the strongest interest came from the belt of countries that
run through North Africa and the Middle East, including Libya,
Egypt, Morocco, Pakistan, Iraq, Lebanon and Oman. Countries in this
region are all buying.
Canada and the US are buying again
in 2010 after an absence of two years, stretching from December
2007 to the end of 2009. Macedonia and Bulgaria are also bidding
after similar absence.
Approximately half of all equipment
purchased is now exported overseas. UK registered buyers may be
also shipping overseas to regions such as North Africa.
Access and
cranes
During the seven auctions held from
May to June in 2010, a larger than normal quantity of access and
crane equipment was sold.
The price of access equipment has
been strengthening since March 2010, following a glut of stock
coming onto the market at the end of 2008 and in early 2009.
Telehandlers fetched between 15%
and 20% more in August than in January this year.
This reflects a strong but varied
global customer base and a large proportion of assets being sold on
the internet.
At auction in May 2010, AWP’s made
20% more than they did in May 2009. A 2000 Haulotte HA18PX, for
example, fetched €2000 more than a similar asset in May last
year.
Manlift prices at auction in May
2010 were the strongest since June 2008.
Jonnie Keys is general manager
of Euro Auctions
