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What's hot and what's not
Page 70
Page 71
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When auction buyers prepare to spend money they want good condition and low mileage. British Car Auction's Duncan Ward reveals the hot lots on the light CV scene.
The used light CV market remains buoyant with pockets of high demand and a certain patchiness to trading patterns, which is consistent with the summer months.
SCA is advising sellers to keep dose to the market and to be aware of any changes to ensure their product is best represented whatever the conditions may be. Buyers continue to value rarity and pedigree very highly and documentation and condition are always important. High mileage is generally a turn-off as condition remains more important than age in buyers' eyes.The mileage barrier appears to be around 100,000 on clean product and around 80,000 on below average stock.
As in previous months, the budget end of the market remains the strongest and most consistent, but as values increase 0,000 seems to be the watershed.
Light CVs valued above this figure can be more difficult to sell unless their condition is clean and their mileage low.
This is consistent with professional buyers being wary of speculating on higher value vehicles. Recent research among B CA's customer base revealed that used retail demand is down, and consequently many dealers reported that their buying patterns were changing.
Some will buy to replace sold stock,or will only buy to order,with many dealers using SCA's Commercial Auction View to source and sometimes pre-sell stock. Others are focusing on quick turnover and low-margin units, or restricting themselves to clean lowmileage stock only. One consistent message is that buyers will rarely bid on stock needing any remedial work. Buyers are now coming to sales with a much more limited budget so their requirements are far more specific.
They will avidly follow 'buyer friendly' brands where they know they can bid for and buy vehicles valued in line with market expectations. When they do decide to spend their money they don't want to waste their time — the last thing they need at the end of the day is half a dozen provisional bids that might, or might not, end up as sales.
Van glut
Looking at the market sectors, there is an oversupply of medium and long-wheelbase panel vans many in poor condition —which means buyers can pick and choose the very best.
However, this means clean. straight (and preferably young) examples are highly prized and values will routinely exceed guide prices as competition from the buyers is fierce.
There is also massive demand in the car-sized van sector, where there is a genuine shortage of stock. End-users are strong buyers in this sector and they want a high specification. •