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Van prices are booming at BCA
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Page 69
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The auction houses are off to a strong start with British Car Auctions the latest to report strong trade in the first quarter. Duncan Ward, BCAs UK business development manager for CVs, reports.
Agood January has been followed by a strong February, which has seen demand keeping prices firm. If anything the intensity has notched up a bit, with both trade and end-users attending in large numbers and bidding strongly.
Consequently prices have moved up between 5% and 10% for well-presented stock since the turn of the year, while the cleanest lower mileage examples have seen rises in excess of that range.
It's not an unusual pattern for this time of year, yet it often seems to catch both buyers and sellers unaware. Ideally,vendors should be pouring stock into this highly receptive marketplace, which in an ideal world would require the typical three-year fleet or lease vehicle coming into service in January or February.
The rewards are there
Not for everyone, maybe, but for those that can take advantage the rewards are there to see.
Buyers are competing with enthusiasm, but often seem surprised that they are paying up to 10% more than they did in December.That reflects the power of auctions to focus demand on the marketplace.
Condition remains important as buyers are reluctant if vans are tatty or poorly presented — a number of vendors have enjoyed great success in using BCA's Smart Prepared services to present their commercials in the best possible condition.
It used to be the case that a company van was lucky to see a mop and bucket at remarketing time —now sellers are prepared to invest to help their vehicles achieve the optimum price.
Hatchvans in demand Hatchback vans remain hugely desirable. Pick of the crop is the Peugeot 2061.9 D. which always attracts the buyers in droves. Three-year-old examples at sensible mileages (55,000-60,000) are averaging over /2,700 at BCA.
The Renault Clio 1.5 dCi 565 is equally scarce; BCA averages over /2,100 at 80,000 miles-plus for this model, well over guide values. Low-mileage examples will make much more: an 0252 Clio at around 30,000 miles will realise up to /3,000.
The Vauxhall Corsavan is another rare beast and three-yearold examples sell for around f2_500 at 40.000 miles.
Even high-mileage examples of the Ford Fiesta van make strong money. BCA recently sold a number of four-year-old ex-lease Fiesta 1.8 TDdi vans for an average of nearly £1,300 at over 125.000 miles. Late-year, low-mileage examples in this sector are always sought after and BCA has remarketed a number of 05-registered Ford Fiesta 1.4 TDCis at around £5,500.
Even in a strong market there are hotspots. and demand for Escort vans is getting stronger. We've seen many examples make hundreds of pounds over guide prices, but taken in the context of what you might pay for a yearyounger Transit Connect, this is still value for money.
While car-sized vans are in demand. a side-loading door is becoming more critical and examples without this feature are price-sensitive.
The old-shape Caddy still has many admirers and prices remain firm, particularly as the new model is so scarce. A 2000Wregistered example at 79.000 miles recently sold for £2,575 at Blackbushez that's almost £1,000 over guide price.
A lot of Tralics and Vivaros are coming back to the market after three years on contract hire. which means more choice for buyers. We've noticed that a number of Vivaros have exterior roof damage, presumably from poorly loaded ladders and other paraphernalia.
Watch out for damage
Vendors should be aware of this trend, particularly at end of term inspection time. While the damage might not he noticeable at ground level, it is all too apparent from the galleried seats in an auction hall!
In the 4m-wheelbase sector, low mileage and clean condition are becoming rarer than ever and prices are reflecting this. The lveco Daily has been added to many buyers' shopping lists recently, with the few late-year examples seen this year performing strongly..