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Plant dealers and hire companies from across the globe are descending on Dubai to source machinery, as a global shortage of kit forces them to buy machines from overseas.

The increased demand from overseas buyers has pushed up second-hand kit prices by as much as 20% over the last year, according to local plant dealers.

But the increased prices did not deter the foreign legion
of plant dealers from converging on Dubai this week to
view the 1,700 lots available at the Ritchie Bros. auction
in Jebel Ali.

Companies from all over Europe, as well Malaysia, Singapore and Pakistan, were present at the two-day auction of used construction equipment.

Henk Schotsman, owner of Dutch plant firm A Schotsman, told Construction Week: “In Europe, it is simple, there are just no quality used machines, and those that are available
are being sold at premium prices. There are so many end users vying for the same equipment; this has pushed up prices considerably.

Posted: 04|1|06 at 8:43 am. Filed under: Auction News.