Plant, Machinery & HGVs October Report
Just two sales until Christmas for us now! Not sure where the year is going, but it’s certainly going well. 11th October saw a cracking sale for us! It was the 10th sale of the year for us and it was a perfect 10. All sections enjoyed a buoyant trade and high clearance rates.
Prior to the sale we had been a little nervous due to two large national fleet dispersal sales as well as reports of a poor trade in a few other auctions. Fortunately, these fears were unwarranted. We saw the highest entry of plant that we have seen in a very long time. In particular; mini & midi excavators. Last minute, we were forced to extend this section to accommodate so many late entries. It would appear that such high supply was easily met by a surge in export trade. We had always anticipated a strong European presence with the proposed deadline for our exit from the EU just a handful of days away now!
In our plant section we were delighted to see entries from many industry leading hire fleets. It is a hugely rewarding process working with these giant names and indeed getting some market leading results for them. We also had entries this month from some huge main agents from across the country as well as finance companies, construction businesses, owner operators and local hire firms & dealers. As mentioned above; we had an abundance of mini & midi excavators. These sold extremely well, with a large proportion going abroad and a strong percentage selling to internet bidders. Rollers and dumpers seemed to be up slightly in value compared to last month, this was encouraging to see. We also appeared to have a return of trade for 3CXs. These machines can very often be hard work to sell, but not so this month! Indeed, the only section of plant which we were a little lacking in was our telehandler row, prices here were well up on previous months though with several direct telehandlers easily exceeding past results.
Our next largest section this month was our HGVs, artic trailers & vehicles. We had several direct fleet entries as well as consignments from leasing companies, councils & government departments. There were some good results this month with a solid average sale price of a little over £5,000. The lorry trade appears to be remaining fairly steady with no great fluctuations in any type of vehicle. Recently we have seen a lot more vehicles being driven here and a lot of higher quality entries. Our artic trailer clearance rate has also been strong recently. This section of the sale is often the easiest to enter and buy from, as the vehicles can be transported with just a driver.
Agricultural equipment & tractors were down in entries this month. A solid few months of selling and a good dealer trade seems to have mopped up any surplus machines which may be on the market at present. It appears to be the case that a lot of farmers are either holding off from changing their kit or opting to buy used machinery to reduce any risk posed by a bad Brexit. We had enough entries to make some interesting sections of the sale and we had more than enough buyers online & on site, which only drove prices up. There were some really strong results fetched and I anticipate seeing some even higher prices in the months to come.
We had a fantastic collection of weed cutting boats & equipment this month and it attracted a lot of buyers. There was also a fantastic line up of grounds maintenance equipment, mowers & chippers to go at. The end of season trade is usually just as good as the pre-season trade on this kind of equipment. A lot of equipment comes onto the market after the summer and buyers vie for it in order to stock up for the spring.
It is difficult to know what the next few weeks and months has in store for us and it is often easy to let the hype and hysteria get the better of us. We have not seen any clear signs of demand falling or trade “dropping off”. We are now building the catalogue for our next auction on the 8th November and it is now more than ever that people are glad to be selling their assets in a reserved auction where they know the value is protected from market fluctuations. Indeed, there are some great packages of machinery in the pipeline for our next sale already.
Get in touch now to find out how we can help you get the best value for your end of use machinery using our range of services, from collection arrangements, repossessions, on site dispersal sales, timed auctions & more. Call the office now on 01981 250642, emails us email@example.com or like & message us on Facebook https://www.facebook.com/BrightwellsMachinery
As always our full results are published here: https://www.brightwells.com/media/5766/october-2019.pdf
Or you can view our next auction catalogue here: https://www.brightwells.com/plant-machinery-hgv/auctions/november-plant-machinery-hgv/catalogue/