The UK’s auction halls are experiencing record volumes, according to BCA which saw its inventory hit record highs with more than 50,000 vehicles at points in February.
Large volume has met with strong demand, and BCA reports record results with Live Online seeing 1,000 bids placed within a five minute period.
In a busy market, BCA says it is important for vendors to give their vehicles the best possible chance for a sale. Analysis by BCA has revealed that a gold valet can return a premium of over £200 for vehicles priced at over £12,000. For stock valued between £500 and £2,999, the premium is £111.
BCA’s COO UK Remarketing Simon Henstock said: “Strong new car sales over the last four years mean supplies of used cars across the broadest range of makes and models are more readily available at every age, mileage and condition figuration than they have been since the onset of the recession in 2008.
“Buyers have plenty of choice and will gravitate towards the better cars. They will almost certainly become more ‘picky’ and cars they may have bought 12 months earlier perhaps requiring refurbishment may well be passed over.
“It’s important to invest in vehicle preparation, especially in the lower grades to improve their appeal.”
BCA has invested in building capacity with the recent launch of a new 20-acre multi-million pound remarketing and logistics facility at Perry Barr.
Perry Barr’s remarketing facilities include three auction lanes plus a state-of-the-art digital auction suite. There is undercover viewing for 450 vehicles, ample customer parking for more than 400 vehicles, a restaurant, barista kiosk and business suites. The BCA Auction Services facility offers a full range of valeting and Smart Prepared services, appraisal-post valet, digital imaging bay and BCA Assured by the AA.
Henstock said: “BCA is investing in its physical footprint, logistics, technology and process
to deliver a comprehensive nationwide remarketing service across 24 locations and the digital space.”