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Used machinery fetches record prices at auction

Dubai's auction houses are set to be the winners in the current equipment shortage, with record turnouts and firm prices being reported, with mobile cranes being particularly in demand.

Dubai's auction houses are set to be the winners in the current equipment shortage, with record turnouts and firm prices being reported, with mobile cranes being particularly in demand.

Keith Lupton, Director, World Wide Auctioneers, said "Tadano and Kato cranes sell well. Kato are always worth about ten percent less in Arabia, though there isn't a lot of difference."

Another auction house with a branch in Jebel Ali has been enjoying a record number of bidders. Ritchie Bros. registered more than 600 people from 49 countries at the last auction in March, in which 1,800 items generated US$26m in gross auction proceeds. "The auction went exceptionally well, with good returns on virtually every type of machine in the sale," said Steve Barritt, Ritchie Bros. Area Manager.

However, the shortage in both used and new equipment is having an effect on the market, being felt by even the most well-resourced projects."The Dubai Metro has resorted to buying used mobile cranes, albeit recent models. Graham Lakin, Plant Manager, Dubai Metro said, "We are getting them from all over Europe; we just got one from Russia in fact."

"We have currently seven on acquisitions on site and five in the yard, which is all we can get our hands on. We  concentrated on three types and that was dictated by the market."

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