JCB reached a record-breaking hammer price at its famous second-hand machinery auction – thanks to a 5% loyalty discount on all lots.
Bidders splashed out £3 million as they made the most of the generous discount – coupled with no buyer’s premium – at the silver anniversary event.
And unprecedented live bidding via the internet attracted global interest from the Middle East, Australia, Asia and beyond as machines including JCB 1CX, 3CX and 4CX backhoe loaders went under the hammer.
The milestone auction – which attracted around 300 online bidders – was today hailed a "huge success". Auctioneer Rob Yorke said: "The huge global interest made for strong bidding and JCB’s 5% discount created a real buzz and led to strong bidding on the excellent quality machinery that was on sale."
Prospective buyers were invited to cast their eyes over the full catalogue before the event, both online and in person at the JCB Arena in Rocester, Staffs. The auction was first staged in 1989 and the last one to be staged last year raised around £2 million.
JCB’s Phil Pepper, who organised the auction, said: "Unlike other auctions we’ve never charged a buyer’s premium, and we introduced the 5% discount as a thank you to our customers for their continuing loyalty."
Over the last 25 years the JCB auction has been staged on 38 occasions and this event attracted hundreds of people to Staffordshire from all over the UK.
Raymond Robinson, who owns T.K. Robinson & Sons in Kendal, Cumbria, said: "I’ve been coming to the auctions since they began, it’s refreshing to see a company reward loyalty instead of taking it for granted."