Sales hit record level at Euro Auctions’
German site in Dormagen, this September where about a fifth of the
equipment sold was ex-lease. 

According to the specialist auctioneers of
plant, commercial, and industrial equipment, a number of lease and
finance companies use the Dormagen sales to dispose of equipment at
the end of its term although volumes are down from previous
years.

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The percentage of ex-lease equipment at the
Dormagen sale was “probably in the order of 20% of the total sale”,
according to a Euro Auctions spokesperson.

Dormagen is still seeing equipment coming
through from the lease and rental sector but the volume of
ex-financed vehicles coming through to the company’s auctions
reached its highest during the economic downturn in 2009 and
2010.

“In the past, finance companies have disposed
large volumes of stocks through auctions, which is good for Euro
Auctions, as this creates good levels of stock for the catalogue,”
said the spokesperson.

Now, any lessee that was in trouble, about to
default, or wanted to exit equipment leasing during the period has
done so, leading to a decrease in the number of ex-financed items
coming to auction.

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The Euro Auctions’ spokesperson also said with
manufacturing in the doldrums companies are holding on to equipment
longer.

“The construction, contracting and hire
sectors are nervous about taking on further debt and as a result it
is too early to speculate as to what the volumes may be in the
future,” said the spokesperson.

Nonetheless, Jonnie Keys, general manager of
Euro Auctions, is confident for now: “We have seen strong and
continued growth at Euro Auctions, Dormagen despite the current
economic conditions.”

Euro Auctions also has sites in Dromore,
Northern Ireland, Valencia, Spain and Leeds, UK.