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Audions take top bidding
Page 69
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Rollover from last year gives further boost to a buoyant sector
as demand soars and brings strong prices to buyers' market
The customary strong NewYear start to the auction market has been boosted by the rollover from 2003, according to British Car Auctions.BCA's UK business development manager,Duncan Ward,says he has seen demand soar in a buyers' market,v.rith January auctions achieving strong prices and impressive volume conversions.
The Measham Commercials site sold more than 300 vehicles in the third week of the year, and turnover topped £1.3m. Complementing this was 100% conversions for ex-Royal Mail and BT fleet vehicles. Cash returns on vehicles have surged past CAP recommended prices, by more than half in many cases.
The market has been actively seeking Luton-bodied vans and the car-derived van has enjoyed a resurgence. Further interest from the public sector has centred on drop-sides and tippers.
BCA also reports that vans coming into the auctions with all the correct paperwork have greater benefits for the new owners.With continuous tax registration from DVLA, buyers can use vehicles more quickly without waiting six weeks for proper documentation from DVLA. As a result, BCA has seen 95% of vehicles sold complete with the V5, compared with 65% two years ago. •