Construction Industry Booms at Auction

After the government’s recent announcement of home builder grants and the fast-tracking of transport projects to keep jobs secure across the country, transport and civil equipment is in high demand and ready to be bought fast.  Hundreds of items of civil and transport equipment is listed on the Lloyds Auctions online platform where equipment is in high demand with sellers upgrading and offloading their existing fleet to purchase new equipment for prospective times to come.  “Our heavy equipment auctions have increased five fold, we will have 5 major machinery and transport auctions next week alone for the month of June,” commented Mr. Hames, Chief Operations Officer for Lloyds Auctions.  The current boom in online auctions during the government enforced Covid-19 restrictions is creating a massive surge in the market that often has been focused on the conventional auction process.  Traditional dealers are really struggling due to onsite restriction and although down they are certainly not out as they turn sharply to online auctions to reignite falling sales. “One of the main advantages of why people are selling at auction is that people need the equipment sold straight away, these government announcements came at very short notice and the work is picking up now, people are planning, so contractors and businesses can buy at auction knowing they can be ready to go at just a moments notice,” said Mr. Hames.  These unprecedented auctions include transport equipment and civil equipment including dump trucks, excavators, wheel loaders, rollers to prime movers and trailers, everything needed to upgrade our roads or build commercial developments.  “We expect this equipment to go for a decent price as it is in high demand right now, we are seeing enquiry flooding in from all over the country especially since the Government’s announcement of the new building and renovation grants,” said Mr. Hames.  Civil and tunnel machinery also features in an auction on the 30th of this month on behalf of a major construction company where equipment was once used on other major road projects which is now perfect to take onto the next major road project straight away.