Weekly auction update from Andy Conde - 6th July 2015
Another strong week across the board with prices and conversions holding up very well. Despite the introduction of the new guides, the supermarket buyers are out in force but as expected, the main dealer buyers are slightly more reticent to get involved.
Late year low mileage product is in demand but also the 2-3 year old product with up to 60k miles is also much sought after.
We continue to see, week on week, a slight reduction of units, which is resulting in buyers having less choice. Business is about psychology and the vendor who is skilled at reading the markets and prepared to get vehicles on sale early will always have a great hit rate.
Another big factor is confidence and we are seeing more and more buyers following particular vendors as they know they will buy vehicles that they can make a profit on, turnover quickly and return the next week to buy again.
We have seen some sizzling temperatures this week and sizzling prices to match. Leeds had a very strong sale to start the week with excellent sales for all principle vendors, and the positive reports kept rolling in with Bristol, Colchester, Manchester all having some rave results.
The week ended on a positive with the launch of the BMW 2 lane sales programme producing another great sale but Northampton this week takes the award from me.
The skills of the auctioneers can often get overlooked but when you look at the results produced, the quality of the guys with the gavels certainly made a difference and to be a top quality auctioneer I always say bid making and not bid taking is vital. This is why we are seeing such special results at a time of year when in the past, it has been doom and gloom with very little interest out there on the auction hall floors.