Yoder & Frey, leading auctioneers of heavy construction and agricultural equipment in the USA, has got 2018 off to a flying start by achieving record successes at both the first two sales of the year.
This year’s Kissimmee Florida Winter Consignment Auction saw over 6000 lots of quality new, used and surplus equipment, including around 1000 engines, consigned and sold at this five day auction event, resulting in an increase of almost 30% in the final hammer from the 2017 sale. This was then followed on 15th March with another record one day sale in Ashland, Ohio – up almost 40% on the hammer total achieved a year ago.
“We have seen a real resurgence in demand for quality used equipment at both our initial sales in 2018,” stated Peter Clark, President of Yoder & Frey. “Customer feedback has been great and I think everyone liked what we did in Florida. People have been very complementary about the way we put our auctions on and they regard us as a premier source for buying and selling equipment. ”
“The interest comes both from across the US and wider afield including Asia, Australia and even in Europe, particularly in the general construction and mining sectors which have been steadily returning to a more stable footing. Different regions demand different types and standards of equipment but we are also seeing real technological improvements in what’s being sold, often the result of changes in environmental and safety regulations.”
One of the world’s largest annual heavy construction equipment auctions, this year Yoder & Frey saw bidders registrations leap almost 60% on previous annual totals to over 3200. The number of first time registrations also more than doubled to over 1300 and online registrations more than doubled; with online sales now accounting for just under one in four transactions. Web visits also rocketed almost threefold in the weeks just prior to the sale with average dwell time on the website more than doubling to around 10 minutes per visit. Bidders were drawn from over 100 countries and from right across the USA, clearly demonstrating the truly international appeal of this auction.
At over $12,375, average lot prices at the Ashland sale were up by around a third on the December sale which itself was up by 66% on the sales achieved last April which means average prices have more than doubled in just a year. This a massive leap reflects both the quality and types of equipment being consigned but also the demand it commands. Vendor numbers were also up at this sale as were the number of new first time bidder registrations with the overall number of bidders doubling on the previous April to over 1800. Successful online bids also accounted for approaching half of all sales which meant that a wider global audience was reached and this is reflected in where the lots are expected to be consigned; both right across the US with some key pieces going internationally.
Peter Clark continued: “This time last year we became part of the Euro Auctions Group global network of companies and this provided Yoder & Frey with access to a global market place in which we can promote consignors equipment to over 150,000 buyers in over 95 countries. We are now reaping the benefits. Our enhanced and free to use internet solution means we can provide buyers with a robust and secure online sales platform so they can confidently bid on whatever items interest them and know that we can then arrange shipment to wherever they are located.”
“Customers now have greater options when either buying or selling equipment and we are able to provide greater access the global market,” concluded Peter Clark. “More changes are imminent within the industry and Yoder & Frey, in conjunction with Euro Auctions, is perfectly positioned to support their growing global requirements.”
Other upcoming Yoder & Frey / Euro Auctions sales:
Yoder & Frey is running further auctions over coming months with an Online event scheduled for Thursday 26 April; a sale in Florida on 24 May and then back at Ashland, Ohio on 07 June. Bidders and potential consignors can contact Yoder & Frey via email firstname.lastname@example.org or call 001 419.865.3990.
Full details of all the international sales being delivered by the Group over the next few months are available at www.yoderandfrey.com or www.euroauctions.com. These include: A three day auction at the ever popular Leeds, UK site, 11-13 April; Brisbane, Australia on 18 April; Dromore, Northern Ireland on 20-21 April; Dormagen, Germany 25-26 April; With future events being scheduled at its facilities in Dubai, Hong Kong and Zaragoza, Spain, all offering potential buyers a great opportunity to acquire some impressive lots.
Note to Editors:
Yoder & Frey / Euro Auctions are happy to provide editorial opinion pieces on all aspects of the global used plant and machinery market and can supply statistical data / articles.
About Yoder & Frey
Since 1964, Yoder & Frey Auctioneers, Inc. has been serving the needs of heavy construction equipment buyers and sellers. Its mission is to efficiently liquidate equipment through auctions by providing the best value for buyer and seller while providing outstanding customer service. Specializing in the sale of used heavy construction equipment, trucks and trailers its corporate Office located in Holland, Ohio with additional auction facilities at Kissimmee, Florida and Darlington, Pennsylvania.
In January 2017 Yoder & Frey became part of Euro Auctions a leading international auctioneer of industrial plant, construction equipment and agricultural machinery since 1998 and today conducts over 60 unreserved auctions every year. It has permanent auction sites in the UK, Europe, Australia, the USA, and new facilities in the United Arab Emirates and Hong Kong have just held their first auctions. Euro Auctions also specializes in off-site sales which included the largest ever one day auction of mobile cranes, where 127 units sold for €32m. Euro Auctions markets equipment globally to over 150,000 buyers in over 95 countries and also offer an online sales platform that is robust, secure and free to use.