Euro Auctions, the leading auctioneers of industrial plant, construction equipment and agricultural machinery in Europe, has announced plans to set up a permanent sale site in Dubai, UAE.

Established in 1998, Euro Auctions already has permanent auction sites in the UK, Europe, Australasia and the US.

The company has already leased a 91,000-sq-m site from the Jebel Ali Free Zone Authority (Jafza) for the facility. It includes a purpose-built auction complex covering over 3,000 sq m with a 360-seat, fully air-conditioned enclosed auction arena as well as ancillary buildings besides workshops and infrastructure.

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

With this move, Euro Auctions will have a major presence in four continents around the globe and add another four sales per year to the calendar, remarked a top official.

“As part of the continued global Euro Auctions brand expansion, the Middle East, and in particular the UAE, was always the next country in which to establish a strong and stable operating base,” explained Jonnie Keys, the 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,” he stated.

Keys said Euro Auctions had seen increased participation from the Middle East in its European and American auctions over the past year and in particular in the last six months.

"And indeed we have had numerous customers who requested us that we take a larger part in this region which this facility will allow in addition to growing our customer base," he noted.

According to him, the first Euro Auctions sale in Dubai will be held on September 13, with four sales per year scheduled to follow.

"This will provide its loyal customers more options and platforms to buy and sell equipment and assets when, where and how they like. This expansion allows for total global reach and assets can be sold where the demand is greatest," he added.

A market leader in the UK, Ireland and Europe, conducting over 60 major auctions every year, Euro Auctions also specialises in off-site sales. It had recently conducted the world’s largest one-day auction of mobile cranes, selling 127 cranes with a hammer value of €32 million ($36 million).-TradeArabia News Service