WWA auction raises $14 million in Dubai

Telehandlers and graders rebound, market looking brighter

Bidding heats up during the auction
Bidding heats up during the auction

RELATED ARTICLES: World Cup boosts auction sale in DubaiIron man | Auction firms beat the slump

World Wide Auctioneers kicked off their first auction in Dubai since the turn of the year with a bouyant three-day sale this week.

Keith Lupton, VP sales at WWA, said that the auction house cleared $13.9 million of sales and that the healthy presence of buyers showed that there is "some signs of recovery" in the market.

"Telehandlers, graders, tired rollers, forklifts, wheel loaders were all bouyant and in rebound from what we've seen in previous quarters," he said. "Although some categories are still in a post-recession slumber, but the attendees were happy and we're definitely seeing signs of recovery."

Lupton said that the auction brought in 123 consignors from 11 different countries. A total of 1367 lots were sold, including 867 static “dead row/non-ramp items”.

He revealed that out of 159 active bidders 23 bid above the $100,000 threshold with 8 bidders spending $300,000 or above.

“It was not spectacular but there are definitely positive signals of rebounding market strength. The auction showes that the market is on the mend the attendees both sellers and buyers acknowledged that. Some categories are still lagging behind the best bysome distance,  but we are auctioneers not magicians!"




Most popular


Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the


CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 765
Jun 29, 2020