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Within weeks of being appointed, Euro Auctions, Europe's largest auctioneers of industrial plant, construction machinery and agricultural equipment, has reported keen interest and strong turnouts at each of the first three Hewden equipment disposal auctions it has held.
The three, one day sales held in Redruth, Newton Abbot and Swansea, during week commencing 16 January, collectively saw over 700 'smaller item' lots sold; achieving a total hammer price of over £4.1m.
Euro Auctions was appointed just days before Christmas by S.J. Woodward and C.P. Dempster of Ernst & Young LLP, the Joint Administrators, to dispose of the cranes and general construction equipment assets of HS Realisations Ltd (previously known as Hewden Stuart Ltd) the hire company that entered administration on 22nd November 2016.
Almost 200 bidders attended the first auctions in person, with approaching a further 500 choosing to register and bid via the internet. This split is also reflected in the sales, with a floor total of over £1.7m and almost £2.4m being transacted online. The UK accounted for the highest number of bidders and buyers, as expected, but consignments are also being shipped to a host of European countries, with a number also going to the Middle East, the USA and the Pacific rim region.
"We're delighted with how this disposal process has commenced and there are still thousands of items of general construction equipment still to go under the hammer from the Hewden inventory. These include excavators, dumpers, rollers, telehandlers and other popular machinery, many of which are low hours, well maintained pieces of equipment and these will be auctioned over the next couple of months," stated Jonnie Keys, Operations Manager for Euro Auctions.
"Then there is the much awaited 'never before experienced' cranes auction that will see over 120 mobile cranes brought together from across the Hewden network for one single site sale. This has now been scheduled to take place on Friday 03 March at Newark, with a general Hewden equipment auction taking place there the day before. A significant level of interest is being received from around the globe for this event, with bidders registering daily, all hoping to secure a share of the quality inventory. We're expecting this to be a ‘must attend’ event and are currently making all the logistical arrangements for this multi-million pound auction."
Neil McIlwaine, Euro Auctions' Hewden Project Manager added: "There is also a large consignment of 2015 and 2016 machines still to go under the hammer, many of which have fewer that 100 operational hours of use and are still in warranty. Much of the rest of the equipment has also been regularly and appropriately maintained and is being offered without reserve so buyers could pick up some real quality bargains. The disposal of the Hewden assets will then culminate in a final sale at the Euro Auctions 60 acre sale site in Leeds later in 2017."
Euro Auctions continues to work closely with the Joint Administrators to catalogue and assess all assets of the business and make these available for sale.
Details of further disposal sales, along with a full sale inventory is currently being posted and updated on the Euro Auctions website.
