Fleet News

Buyers using instinct rather than guides at auctions

GOOD quality used cars are defying the trade guides at auction with customers relying on instinct, according to Manheim Auctions.

Senior group auctioneer Andrew Shepherd said the market is continuing its buoyant trend which began in January, with supply struggling to meet demand and buyers keen to buy to fill gaps left by retail sales.

'The trade guides are still way out at the moment,' said Shepherd, 'with good quality vehicles virtually achieving whatever the market dictates, and the majority of day-to-day auction buyers keeping guides in their briefcases and valuing cars on a gut feeling.'

He also said that the V5 document saga has begun to take hold, after a few vehicles changed hands in January without the document.

'Now February 1 has come and gone it is very evident that buyers are not interested in bidding on anything without a V5, at any price. The majority of national leasing companies appear to have got their house in order and have V5s to accompany their vehicles.

'However, they are noticing price differences and interest on those vehicles without paperwork.'

  • Manheim Auctions has brought its range of refurbishment and inspection services under one brand in order to make the process more simple for fleets. Called Manheim Advanced Services, it incorporates four products: Manheim Recondition, Manheim Inspection, Manheim Certified Plus, and a new service called Manheim Assured, which offers a 15-point mechanical check and three-day money-back guarantee. The firm claims uniting the services give sellers 'maximum benefit for minimum outlay'.
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