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Catching the bidders' eye
Page 68
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British Car Auctions' Duncan Ward has been busy with a number of recently launched models making their debuts at auction, and chassis cabs and small vans performing well. What's more, sellers are going that extra mile to present their vehicles in top quality.
Astrong spring has seen plenty of demand keeping prices firm in the used light CV market, with trade and endusers attending in large numbers and bidding strongly. As a result prices are stronger now than they were at the start of the year.
Commentators are reporting healthy levels of retail business and this is pulling demand through the wholesale market.
In terms of demand, light CVs are outperforming the car market — even taking into consideration the lower volumes of commercials that are available. The economic conditions that have caused some fragility in cat sales— rising inflation and three interest-rate rises in five months— are not affecting small businesses and self-employed.
Spit and polish
However strong demand may be, condition remains important as buyers are reluctant to buy tatty or poorly presented vans.A number of vendors have enjoyed great success in using vehicle preparation services to get their commercials in the best possible condition.
It used lobe the case that a company van was lucky to see a mop and bucket at remarketing time — now sellers are prepared to invest in machine-operated polishes to help vehicles achieve optimum prices.
In terms of what's hot, the nearly-new market is at boiling point. It's an exciting time for new model launches and this interest is replicated when the first examples are sold as used vehicles.
A manufacturer in point is Ford, which followed up the launch of a new Transit at BCA in December with the Ranger in February. Nearly 100 buyers descended on the Nottingham centre to bid and the sale recorded a 100% conversion with a turnover ofjust under Llm.The new 06-registered Rangers stole the show, however, achieving 75% of list price at an average of 2,000 miles.
Also in the sale were 30 new-modelTransits and, again, interest was exceptional.The top price paid for a SWB model was £11,600, which was achieved by a 260 85hp van with metallic finish, while in LWB format, £17,000 was paid for a 200606-registered Transit 350 100hp tipper. Fiesta hatchback vans also performed well, averaging 117% of CAP across the board.
Also performing strongly at auction for the first time, Vauxhall's new Astravan exceeded pre-sale expectations. The event attracted more than 80 registered buyers, with 22 online bidders linked to the auction hall via RCA's LiveOnline service. Strong bidding saw an Astravan 1.7 CDTi Club in black sapphire sell for L9,100 and an Astravan L9 CDTi Sportive 120ps in moonland grey make £9,650.
A third auction debut saw the new Mercedes-Benz Sprinters in open auction at Blackbushe in March; two 311 CDi LWB, high roof models in silver at 16,000 and 21,000 miles were sold at £17,800 and £17,200 respectively, again well ahead of market expectations.
Small van market
Looking at the typical three and four-year-old fleet and lease market, small vans remain big news.There are relatively few examples in the market and their scarcity means clean, straight examples make strong money. Their size tends to mean they have light use and are in better condition at any given mileage than their bigger stablemates. Buyers don't expect a high specification and are quite happy with a white finish.
Buying or selling,expect premium prices for Peugeot 206, Renault Clio, Vauxhall Corsa and as mentioned above, Ford Fiesta.
Demand continues for wellpresented SWB/MWB panel vans and, as always, a van with a high specification and a good 'retail' colour is likely to do exceptionally well.There is a genuine shortage of good quality stock in the market and the right van in the right colour can make exceptional values.
Body builds and Lutons are in equally short supply — whatever badge may be on the bonnet, there is huge demand and values at auction routinely outstrip guide prices. Dropsides are a little off the pace, but tippers are very desirable and are again generally outperforming the guides.