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THE CMTEAM'S EXPERIENCE COLIN BARNETT

20th April 2006, Page 89
20th April 2006
Page 89
Page 89, 20th April 2006 — THE CMTEAM'S EXPERIENCE COLIN BARNETT
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Which of the following most accurately describes the problem?

"Haying spent some time in a previous life as a car salesman, I found the contrast between BCA's almost scientific approach to evaluation and the traditional seat-of-the-pants method to be enlightening. The most valuable lesson was how undesirable dirty interiors and dented, liveried exteriors are. Short cuts In both driver training and livery design might save money upfront, but there's a clear penalty at sate time In the evaluation exercise, I consistently slightly overvalued everything apart from seriously undervaluing a smart black Vito, which had large holes in five panels where high-security locks had been fitted and removed. I saw only the holes, not the opportunity to fit new locks and sell it with enhanced security. My worst overestimate was a nearly new Ford Ranger Thunder. which I estimated at almost £12,000 but which attracted considerably less than £10,000 and returned home. Apparently, there's a clear distinction in the market according to whether pickups have a Japanese badge or not.

"The day was summed up by the old motto, 'buy new, think used':

JULIAN MILNES

if you thought there was a sure-fire way of assessing a vehicle's price at auction, think again. And though the presence of a dent may go some way to hinting at its price, there are many other variables to consider and combine —colour. mileage, size, body, extra features, day of the week, wind speed... but this still won't guarantee price accuracy. What it can do is give an indication at best, and that's as good as it gets.

"There's one more factor that can help boost your chances of success: experience. Walking in cold will have you clutching at straws. Watch, look and listen — knowledge is king."

KEVIN SWALLOW

"I found scanning so many vehicles in a short space of time was impossible — you can see why people take a short cut. The first two were done with care and precision but that soon went out of the window as time ticked away. Basic checks such as opening up the back doors and checking load space and mileage were forgone for looking at Nit the paintwork.

Some of the vehicles that went through struggled to raise a smile when it carnet° bidding, highlighting the very term 'commercial reality'. The exercise was certainly harder than it first appeared,'


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