Manheim Industrial is set to run its next national mining equipment auction during March this year, in partnership with Lennon Heavy Equipment.
Manheim’s multi-vendor online mining auction will take place between March 20–26 with extensive investment in marketing to both domestic and international buyers.
With Lennon’s 50 years of servicing the mining industry and Manheim’s international scale, it’s a dynamic pairing that offers a bespoke solution for the disposal and procurement of mining assets.
It’s the second mining equipment auction Manheim has run in partnership with Lennon, following the December 2023 event that saw bulldozers, motor graders, excavators, and wheel loaders exchange from mine sites directly to end users.
The December event took 457 bids from buyers in Australia, China and Canada, with equipment selling on average 31 per cent over the reserve, featuring brands such as Caterpillar, Komatsu and Hitachi.
“We’re excited to now offer multiple disposal strategies to our clients by providing auctions in partnership with Manheim,” said Lennon Heavy Equipment’s Matt Lennon.
“Continuing on from the first successful sale, we look forward to what the future holds for auctions in the mining industry.”
The Manheim Industrial and Lennon Heavy Equipment auction offers a unique service by creating a major consignment sale for all mines to congregate in a one-stop reserved auction.
“It represents a tremendous opportunity for vendors to move on equipment and offers buyers an abundance of heavy machinery to choose for their next contract,” Manheim senior valuer Jack Bookham said.
“Manheim and Lennon offer a new auction solution to an industry that has been highly underserviced over the last decade.
“Moving forward we intend to be the go-to in valuing, remarketing and offering tailored liquidity solutions specific to mining equipment for both operators and lenders.”
Bookham also noted that there has rarely been a more important time for liquidity in the mining equipment resale business, given escalating prices of equipment.
“High demand due to skyrocketing commodity prices, shortages from production, delayed supply chains and costly biosecurity requirements at Australia’s ports are all pushing up prices and limiting choice” Bookham said.
“Good quality used equipment is increasingly hard to find right now, so having a regular centralised national auction event in partnership with a company like Lennon has arguably never been more needed.”
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.