Top tips for going to an auction

- Check the year of manufacture as many countries now have age restrictions on vehicles.

- Check for any potentially expensive leaks; by watching vehicles queuing for the auction process leaks may become evident.

- Check that expensive parts such as the engine and transmission (gear box) are performing well.

- Check the track chains and rear sprockets on tracked equipment for wear as these are expensive to renew.

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- Do not be fooled by a new or sophisticated paint job into not probing deeper into the condition of equipment.

- Tyres are sold in as ‘as seen’ condition.

Middle East auction houses

Worldwide Auctioneers (WWA)

WWA holds fully unreserved auctions, with no minimum bids, seller bids or reserved items, assuring buyers and sellers that equipment is traded at fair market value.

Through the Middle East auction centre, which comprises a 100,000m2 compound in the Jebel Ali Free Trade Zone (FTZ), Dubai, has sold more than 52,000 items of construction equipment at its 60 auctions in Dubai from March 2001 through February 2009, for a total amount of over $762.5 million in auction value. WWA controls a market share of over 65% of all industrial equipment auction sales concluded in Dubai in 2005, 2006, 2007 and 2008. The firm has held auctions in other countries such as Qatar and plans to expand its auction and private equipment sales business into other GCC countries. See www.wwauctions.com for more information.

Ritchie Bros Auctioneers

Canada-based Ritchie Bros Auctioneers is the world’s largest industrial auctioneer, selling equipment to both on-site and online bidders. Through unreserved public auctions, the firm sells a broad range of used and unused equipment for the construction industry, among others. It offers auctions at more than 110 locations worldwide, including 38 auction sites such as one at the Jebel Ali FTZ in Dubai.

In 2008 it sold US$3.57 billion of used and unused equipment at 340 unreserved auctions, including a wide range of heavy equipment, trucks and other assets for the construction industry. For more details see www.rbauction.com

Iron Planet

US-based online auction house Iron Planet is targeting Middle East buyers and sellers via its European base in addition to its American auctions. The firm is also aiming to increase its presence in the region in the future. For more information see http://eu.ironplanet.com