Research carried out by CAP reveals that vehicles offered in what is claimed to be CAP Clean condition are in fact not, with some falling way below the standard required.
CAP uses the Clean, Average and Below conditions to help adjust values for vehicles depending on their condition (see below).
Of 300 vehicles on offer at a randomly selected major auction site, CAP found that 29% were in CAP Clean condition, while a further 25% were just below Clean, but above Average condition.
The average reserves set at the auction were 98% of CAP Clean – providing a clear indication that many reserves were set unrealistically high. Of the cars judged to be in Average condition by CAP, 60% failed to sell because they did not meet the vendors’ reserves.
CAP conditions
Clean
Average
Below
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