Crossways Engineering – Steel Frame building dispersal auction attracts record crowds and bidders with strong prices across the board
Euro Auctions hosted a two-day ‘off site’ dispersal sale for Crossways Engineering in Blandford Forum, Dorset. Attracting record bidders and disposing of 100+ steel frame buildings, raw steel, timber, plant and engineering equipment, the mood of the sale was very upbeat, prices were strong, with the overall hammer total being £2.1 million.
This highly anticipated auction hosted over two days included a live auction on Day #1 and a Timed Auction on Day #2. During the two days 750+ lots were disposed of, with a hammer total for the entire sale of £2.1 million, which split 50/50 between ‘floor bidders’ on the day, and ‘internet bidders’. Such was the interest in this sale and the global market reach of Euro Auctions, bidders from 35 countries registered to participate in this sale. However, it was the home market that bid harder and stronger than most, securing 95% of all lots sold, with the remainder of successful bids coming from the European Union.
An educated audience of 1,100 bidders registered to take part, of which 547 registrations were from ‘first time’ bidders, new to Euro Auctions showing the interest in this highly anticipated sale. Over 100 steel frame buildings ranging from 30′ x 20′ up to 260′ x 120′ were fiercely bid for, exceeding the estimated value by a considerable margin, such was the mood of the bidding audience. With over 400T of raw steel, in various steel sections, and over 200 packs of timber, with a broad selection of forklifts, plant, vehicles and engineering equipment, this was a very specialist sale.
Chris Osborne, Territory Manager for Euro Auctions, who was managing the sale explains the significance of this auction “This sale was like the ‘perfect storm’, with markets and demand heightened, the timing and organisation between Crossways and Euro Auctions was perfect. Everything slotted into place beautifully, and an exceptional outcome was achieved, exceeding our expectations by around 25%. This auction exceeded the expectations of all involved.”
“Since we started marketing this auction my phone was flat out with enquiries from new and existing buyers wanting to register for this auction and know more about the buildings. The demand for steel framed buildings seems to have heightened this year particularly from the Agri sector, with this sale setting new market values for the price of steel frame modular buildings in the UK. Due to the results of this sale, I have had a number of new enquiries from other similar businesses wanting to sell steel buildings and other new manufactured items at upcoming Euro Auction sales.”
This sale highlights the beauty and the convenience of the auction, where fabricators and suppliers can sell volume very easily and be confident with the reach that Euro Auctions has, achieving a true market value for the items. Buyers have vast choice in one place, can complete the sale and take the item away the very next day.
Business partners and founders of Crossways Engineering Jonathan and Jim were delighted with the sale which was conducted to signify Jim’s retirement from business. Jonathan commented “We have been selling our steel frame buildings at Euro Auctions sales in Leeds, Dromore and even Dubai for over five years, and I have always loved the simplicity of doing business and the ‘buzz’ the auction provides. So, it was our intention for Euro Auctions to officiate at the last sale for Crossways Engineering. The sale attracted a very specific audience who knew exactly what they were looking for.”
Jim went on to say “It was a very memorable day for me as a fan of auctions I have always wanted to hold my own sale and as I approach retirement, this was indeed a fitting farewell to the business. However, I was so impressed with the speed and efficiency of the Euro Auctions team that conducted the sale. They flew in, and with absolute confidence, took control, ran the sale and then departed without ceremony, as it was all in a day’s work. It was very exciting.”
With the market changing due to supply, demand, and new operating practices due to COVID, ‘Off Site’ sales present the perfect opportunity for consignors to sell all manner of equipment and machinery at an auction, such as the Crossways Engineering sale.
Chris Osborne concludes, “The Euro Auctions team are experienced at valuing and cataloging lots, marketing to attract the right buyers and securing registrations for the final sale. Over the years we have worked in many sectors disposing of machinery and equipment for a multitude of businesses in: agriculture, mining and quarrying, aggregates, rental and plant hire, contracting, construction and demolition. I don’t think there is a sector where Euro Auctions has not conducted an ‘off site’ sale.”
For all upcoming sales visit the Euro Auctions website at www.euroauctions.co.uk