Weekly auction update from Andy Conde - 11th September 2015
As numbers start to increase, we are seeing a slight movement in pricing but only on the sub £500 product, which in some cases has become unsellable - vendors need to be wary of this especially when taking in part exchanges.
If the vehicle has good mileage and a reasonable length MoT then fine but caution has to be the name of the game.
At this time of year we need to be one step ahead of the markets, be proactive rather reactive. It’s imperative that the momentum of the sale is continuous and the sound of that gavel coming down is nonstop.
From an auctioneers perspective there is nothing more frustrating than a dithering vendor who is holding every bid provisional rather than grasping the nettle and getting the vehicles on sale. This gives buyers confidence and eventually they will pay more to own a car under the hammer rather than have to give more in a post-sale negotiation process.
We are still seeing certain vehicles attracting multiple bids and it’s that little pippin with sensible miles and a nice MoT that is really catching the eye. Many of our main dealer vendors are keen to sell and we are seeing 100% conversions being recorded up and down the country.
This week I have seen buyers who I have not seen for a considerable period and one of them commented to me that it is 5 years since they attended a physical sale in Manchester and yet it felt like a time warp, same old faces stood in the same spots. I always say Motor Traders are creatures of habit and this certainly proves that!
We all know we will hit peaks and troughs over the next few weeks but sensible pricing, properly prepared vehicles, well marketed auctions and of course quality auctioneering will see us through.