Auction results indicate residual recovery

Results from the latest Euro Auctions sale in Leeds indicate that the residual value of plant is hardening and in some cases starting to recover.

In the two most recent sales, the prices achieved for13t excavators have increased by at least £500 and up to £2,500 for younger machines, while those for site dumpers have risen by between £250 and £500. Prices on access equipment also recovered - partly because the volume being put into auctions has fallen dramatically in the past few months.

The feeling at the auction was that most plant owning companies and dealers have trimmed their fleets to match their ongoing workloads and dealers have reduced their stocks to manageable levels. However demand for the 2,750-plus items in the sale was brisk, with 1,000 registered bidders from 49 countries and almost half of sales going to UK registered buyers.

Euro Auctions sales manager David Betts said with so much machinery having been exported over the last year or so, when the UK sees an upturn shortages could develop rapidly and rental rates could rise dramatically, as has happened with car rental in much of mainland Europe.