The Biggest Auction of 2017: The results are in!

16th May 2017

Mining and construction are integral parts of the Australian economy, especially the Western Australian economy. Our slice of this big island is home to 111 primary resource projects and hundreds of smaller mines and quarries, producing more than 50 different commodities.

It should come as no surprise then, when mining equipment goes under the hammer at a Gregsons auction there is a lot of interest. However one auction earlier this year stands head and shoulders above the rest for a few reasons.

Big machinery means a big auction

On Wednesday 15 March 2017 we held a simulcast auction which turned out to be one of the biggest and best in recent memory. A Simulcast auction means bidders were active in person at our Perth auction house as well as online.

They were bidding for a huge range of construction equipment, trucks, earthmovers, and mining and civil equipment. The catalogue ran the gamut from small tools to huge trucks, trailers of all shapes and sizes, earthmoving equipment and polywelders, pipelayers, generators and lighting towers, even cranes and huge padders and graders.

We saw 155 bidders in the flesh and another 142 placed bids online during the course of the day. These bids came from every corner of WA, cities and towns in every state in Australia, even as far as Singapore. Another 117 viewers logged on to our website to check out the lots without placing bids.

Clearing the records

Nearly 250 lots went up for sale during this mammoth equipment auction. Of those, 93.5% found a buyer, either in the audience or online. A clearance rate this high is almost unheard of, so clearly the mining and construction industry still has some life in it yet!

There was keen competition for lots during the day and eager bidders walked away happy with the deals they got after a total of 1,617 bids were cast. Millions of dollars’ worth of equipment was sold during the auction, with the most valuable lot going for a whopping $1.275 million and the cheapest going for just $5.

The benefits of a simulcast auction

Gregsons’ Perth used equipment auctions have long been a staple of the Western Australian mining and civil industries. That being said, some of the lots in this auction were pretty special even for us: lots included trucks and trenchers in impeccable condition and 500 kVA generators that could be powering new projects as we speak.

What made this Gregsons auction different from other machinery and used equipment auctions was the buyers’ ability to check out the lots in person, or log on and place bids from anywhere in the world. For the seller this means opening up to a wider market and for the buyer it means keeping a keen eye out for where the bids are coming from. Simulcast auctions have revolutionised our Perth auctions.

It might be a while until we see another auction of this scale. However Gregsons consistently have new and used goods up for grabs in our live, online, and simulcast auctions. Our buyers get great deals on mining and construction equipment, used vehicles, property, even technology and haberdashery. Check out our auction catalogues to see what you can find!