Weekly auction update from Andy Conde - 17th June 2015
Another very encouraging week around the auctions, a reduction in vehicles through the gate has resulted in less choice for buyers and consequently some of the major manufacturers are seeing a big demand for late and low products.
Also, many of our large supermarket buyers are reporting some very healthy sales figures.
We have seen a big increase in finance repossessions over the past couple of weeks. While this is good news for us, the fact that many of these are sold at bargain basement prices means those fleet vendors who have like for like vehicles are expecting substantially more, making the job tough for them and us as auctioneers.
I have said many times that any item at auction will find its true value and this was certainly the case at Haydock. A 10 plate VW Polo Tdi blue motions was offered for sale on behalf of a local authority and while the reserves were set extremely competitively they ended selling very close to cap with an accumulative figure of £9k over reserve.
I was at Bruntingthorpe on Wednesday when over 800 vehicles came under the hammer, Leasedrive and FCA having their best sales for a long time and once again some very strong buyers in attendance. Haydock commercials continues to go from strength to strength and so it’s good to report that the green shoots are turning into saplings and hopefully it won’t be too long before they become mature trees!
The most important thing this week is managing vendor expectations; we are still seeing some taking bidders out on vehicles when they should be cashing them in.
I have said many times that the role of the rostrum jockey is fundamental to the success of any auction and a proactive man stood next to us is worth his weight in gold.