Fleet News

Easter set to hit auction demand

EASTER could bring a holiday drop in demand at auction, according to Manheim Auctions, but it could lead to 'frenzied' buying in May.

Andrew Shepherd, senior group auctioneer at Manheim, said: 'As we enter the second quarter of the year, the first week's trading has definitely seen signs of the edge going off the market.

'Buyers are still hungry for the good quality cars but there is an air of cherry picking the best of the bunch. Good quality cars are still achieving 105% to 110% of CAP clean prices, but there is really far too much very average stock around. These are cars that require body/paintwork, are between 90-120,000 miles and are really only worth around CAP average or less.

'There are buyers for these cars but vendors really need to grasp the fact that these vehicles will only achieve 75%-80% of CAP clean because they are CAP average cars.'

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