Auction update from Andy Conde - 8th March 2016
Record attendance figures both physically and online for LCV and record sales at several of our auctions this week, packed with vehicles and buyers so all good news.
As we head towards what is traditionally one of the busiest periods within our industry, I cannot stress the importance of getting the basics right. The flow and lotting of the sales is paramount from an auctioneers point of view and to ensure the ‘Swift’ process continues as far as getting the vehicles in front of the auctioneers and the auctioneers swiftly selling them, swift answers on bids, swift payments and swift delivery ensures the continuation of the process.
Despite travelling close to 1000 miles since March 1st, I haven’t seen too many 16 plate vehicles on the road but once we get towards the end of the month I am sure there will be plenty about. Interestingly enough, CAP have reacted to the February trade by increasing values on models such as Focus, Astra, Fiesta etc by as much as £400 per unit and therefore for Colchester to achieve over 102% for Ford Credit is a great result.
Another notable result was a Range Rover Autobiography sold in Bruntingthorpe on Wednesday for £71k, the vehicle had been on the vendors own trade sales web site but failed to sell. This shows the importance of reaching the widest audience possible, not just a select few and the value of our auctions either physical or electronic.
We have some very positive vendors who understand the importance of sensible pricing and how it influences their sales, getting cars on sale early and allowing them to find their own values.
Some vendors rely on us to help them and this is where our young auctioneers in the academy earn their stripes, by working hard to get every penny.