This month’s auction saw prices adjusted down and lesser no. of bidders. The demand for machinery during this period will be reduced due to the rainy season. Construction equipment market is entering the downtrend period and trading in the market is sluggish. Combined with the intense competition from the new machinery market causing reduce in number of direct sales.
Businesses could use this opportunity to improve or re-condition their machinery in the stock to be in a good and ready to work condition. Trading in the auction market is an alternative channel for monetization of non-current assets, creating a choice to store new products in the right price to add to the varieties and also creating new opportunities while awaiting the market to recover after the starting of many upcoming construction projects.
June’s auction result as compared to May’s
- 1-4 tons excavators’ average prices adjusted + – 5%
- 5-12 tons excavators’ average prices adjusted + – 10%
- 1.5-3.0 tons forklifts’ prices continued to decline
- Wheel loaders’ prices is still down
- Farming tractors and agricultural tools’ prices adjusted down 5-10%
- Cranes’ prices dropped significantly
- Prices dropped for civil work equipment, such as rollers.
- Prices dropped for industrial/factory equipment and miscellaneous construction items
The delay of many construction projects started to affect the prices of used machinery market.
(This analysis is for JSSR Auction only and may differ from the general market.)
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