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Booming demand for fiddlers
Page 68
Page 69
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Since the beginning of September, trade has been
moving into top gear at British Car Auctions. Business
development manager Duncan Ward reports.
At the height of the summer, the market remained strong and prices were firm. But how those prices were achieved was noticeably different from earlier in the yearThere were perhaps fewer buyers later in the season, but many vehicles still reached the high prices we saw in spring. However, buyers had little enthusiasm for poorly presented vehicles or any in need of repair.
The market was less frantic over summer, but a number of BCA's corporate customers recorded 100% conversions and exceptional performance against guide prices. In a nutshell, good and well specified vehicles performed exceptionally well, while tatty stock struggled.
Now September is here, it is very much back to full-throttle business. Buyers are out in force, bidding is competitive and prices are firm. Looking ahead, and taking a cue from the strong new CV registration figures, it looks as if the used market will be well supplied with a wide range of good quality stock in the future.
In the panel-van sector, the Transit dominates, as it always has, although there are high expectations for the new VW Crafter and Mercedes Sprinter, which should start popping up soon in small numbers on the used market.The SWB market is strong, but condition and mileage are vital, as buyers want threeyear-old vans in mint condition with side-loading doors and a full service history. What they don't want are ragged,120,000-mile examples covered in dents. The old-shape Transit is still very popular, as long as mileage and condition are good, and Vitos are making exceptional money.
Demand is still buoyant for small panel vans, such as the Scudo/Expert/Despatch, as they are the ideal size for selfemployed trades, and Ford Connect continues to perform strongly, although it is becoming more affordable.
Glut of big vans
In the MWB/LWB van sector supply continues to outstrip demand, but clean examples with the right mileage/age combination will still do well.
Specials are price, mileage and type sensitive; if the body is unusual or highly specialised,it can make exceptional money. Crew-cab pickups are attracting increasing interest in the used market.The most growth is seen in the high-spec 'lightly worked' sector, as volumes from the utility market have fallen.
Work and play
The market differentiates strongly between working and recreational models;unsurprisingly most buyers prefer high-spec vehicles that have not worked for a living. Damage is particularly costly in this sector,so it makes sense to protect the loadbay with manufacturer-specified linings.
The Mitsubishi L200 remains the benchmark model, while the Ford Ranger and Nissan Navara also find a ready market.With all the manufacturers sporting new or updated models, competition will be tierce in both the new and used sectors.
Meanwhile, demand remains exceptionally high for small hatehbacks.They are favoured by all types of trades from florists to electricians; the industry knows this and bids accordingly.
Factory finishes Buyers don't expect a high specification and are quite happy with plain white pain twork, but tend to avoid non-factory finishes, particularly those in garish colours.The minute a clean Peugeot 206, Renault Clio, Vauxhall Corsavan or Ford Fiesta van enters the auction hall, you can virtually feel the anticipation from buyers.
Late-year low-milers in this sector are always sought after, and even high-mileage examples will make strong money. as long as they are straight and well presented. Finally, in what is regarded as the second-biggest sector, saloon car-size vans must now have side loading doors. Whether it's a Combo, Connect, Kangoo,Berlingo or a Partner, a van without such a feature will lose more money in the used market than it costs to specify one from new. An extra offside door will add further value.
Colours other than white are also good news; metallic finishes are particularly popular. Other carlike goodies such as tinted glass, electric windows, air-con and even alloys all boost the likely price. In the car-derived sector the Astra remains popular, as do the few remaining Escorts. But, as ever, condition is paramount.
Overall,there's lots of good news in the market at present. Buyers' expectations of presentation, condition and specification continue to rise, and many vendors are meeting that challenge head-on. •