Euro Auctions: Europe still has plenty of stock
New Valencia location and downturn boost Middle East sales
Euro Auctions has hailed the success of its first permanent auction site in Valencia, Spain, claiming the economic downturn and its proximity to the Middle East is keeping prices strong and stable.
The company opened the Valencia site, one of Spain’s main ports, in December last year to target markets in northern Africa and the Middle East. With the Spanish and Portugese markets deflated there is a surplus of equipment in the Iberian Penninsula, and the company explained that sales have been increasing in its first ten months.
"It is still less than a year since the site in Valencia was launched and in just this very short period we have developed a good reputation in the country and Carlos and Pedro will support our ongoing development," said Euro Auction's Jonnie Keys.
"Spain has readily adopted the American style plant and machinery auction and Valencia now provides Euro Auctions with a strong export platform for machinery bound for North Africa and the Middle East. Lastly, due to the economic downturn across Europe, Spain and Portugal offers great opportunities for both stock acquisition and future plant sales."
Euro Auctions also revealed they have added to their management set-up at the site, recruiting equipment veteran and JCB's former man in Portugal, Pedro Chaves and Carlos Bordonado from online competitor Iron Planet.