Strong Global Demand Spurs Successful J.M. Wood Annual Spring Auction

Sat March 13, 2010 - Southeast Edition
CEG


Fast-paced bidding occurred when a package of Cat 330CL excavators rolled across the ramp on day two of the three-day sale.
Fast-paced bidding occurred when a package of Cat 330CL excavators rolled across the ramp on day two of the three-day sale.
Fast-paced bidding occurred when a package of Cat 330CL excavators rolled across the ramp on day two of the three-day sale. There were 70 Mack dump trucks,  2009 and 2010 model years, on offer, many of  which were purchased to help with the Haiti relief effort. A good selection of low hour, county-owned 2007 Cat M318C wheeled excavators were in the lineup.

Bidders from 37 states and 13 countries were on hand to personally kick the tires on the impressive spread of machinery and trucks at J.M. Wood’s 37th annual Spring Auction in Montgomery, Ala., March 10 to 12. Five inches of rain over the three days could not stop the 1,900 registered bidders from taking home the machines that they came after.

“Prices were strong all three days,” said Bryant Wood, vice president. “There was positive energy in the air, contractors were optimistic and dealers are out of inventory to sell. The global presence at this auction was as strong as we have seen in the last 36 months. The available equipment is running out, and the prices are a reflection of this.”

A strong seller was the lot of 70 late-model Mack dump trucks being sold by Alabama counties. It was a record-setting day for the trucks as they brought as much as $137,500 each. The 2007 Mack dumps were bringing as much as $127,000.

“We had two different contractors buying trucks to send to Haiti for clean-up efforts. One of the contractors had drivers waiting in two 15-passenger vans in the parking lot. As the trucks were sold, the drivers were taking them straight to the port of Mobile, Ala., to get them over to Haiti,” Wood commented.

All told, the auction brought in gross sales of $30,500,000 on 1,600 lots. A combined on-site and on-line group of 2,118 bidders represented 37 states and 13 countries.