A steady supply of stock, combined with the increase of private and end users who are now buying at auction, has resulted in a genuine and potentially sustainable increase in demand.
In May, we have already seen a record CV sale in Leeds and in Scotland.
In each case more than 300 vehicles have been offered for sale, with many originating from the leasing industry and companies such as Royal Mail all being snapped up.
Continuing the trend from Christmas, prices remain stable across the board with even high mileage and damaged vehicles finding buyers. Despite concern from some quarters, Manheim is hearing that many vendors and buyers don’t feel the World Cup will dent the market and is confident the 80% plus average conversion rate will continue throughout the summer months.
While all sectors are performing equally well, small car-derived vans are enjoying an increased demand thanks to buyers snapping up Ford Fiesta and Peugeot 206 vans for exporting to Eastern Europe.
Ford Transits, Citroen Relays and Peugeot Boxers are also finding favour with small businesses.
In the CDV market, the Citroen Dispatch is particularly sought after, with tidy examples making up to £300 over book price. Large panel vans, in the sub 3.0-tonne sector, are thin on the ground and buyers are seeking out low mileage models under three years of age with little work needed and turning them around and getting them on to their forecourts for a quick sale.
The advice for vendors is: don’t hang on to used stock.
Get it in to the auction halls now to benefit from the buoyant market, but don’t take anything for granted. With the speed at which the used market is moving, take time setting reserves using the guides and your auction supplier to ensure you don’t under or over- value your vehicles.
Prices achieved at Manheim sites across the UK
|Vauxhall Corsa 1.7Di 16V||2002/52||28,806||£3,075|
|Vauxhall Corsa 1.7Di 16V||2002/52||117,358||£1,950|
|Nissan Kubistar 1.5 Dci||2004/04||34,349||£3,600|
|Citroen Dispatch 1.9D||2001/51||36,071||£3,100|
|Ford Escort 1.8D 75||2001/51||39,831||2,500|
|Citroen Dispatch 2.0 HDI 900KG||2001 Y||151,575||1,600|
|Fiat Scudo 1.9D EL||2002 02||105,442||2,400|
|Toyota Hi-Ace 2.5D4D 280 GS SWB||2003 53||55,560||5,300|