But buyers unable to attend physical auctions are becoming increasingly keen to take advantage of the opportunity to buy from the comfort of their offices, as demonstrated recently when a Lombard van sale at Manheim Auctions Haydock resulted in a record-breaking 23 units sold online.
Over the next few months, buyers will be able to enjoy the convenience of online access to auction sales at all seven Manheim CV sites, as ‘CV Live’ is rolled out across the UK.
Manheim’s latest Market Analysis used LCV report indicates that generally the rise in interest rates seems to have had little effect on demand for used vans with the average selling price rising by 9% to £3,318 during Q1 2007. This is the highest average quarterly selling price achieved since Manheim first launched LCV Market Analysis two years ago.
The used van market is aligned very closely to economic conditions and even though interest rates are rising, most small companies – who predominantly buy used vans – are continuing to flourish. The used van market has been buoyant now for two years and shows no sign of changing, which is good news all round.
In the small panel van sector, prices have risen on average by 6% to £4,383, with the percentage of cost new price retained rising from 34% to 35%. Average mileage in Q1/07 was 71,428 miles.
The average selling price of large panels vans of 3.0-tonnes gvw and under has risen by a remarkable 14% to £3,371 from Q4/06 to Q1/ 07 and the original cost new price rose 4% in that period to 26%.
The debut Volkswagen Crafter sale at Manheim Coventry firmly placed the new van as a genuine rival to the Mercedes Sprinter and Ford Transit. Demand was strong across the full selection of ’06-registered medium and long wheel base panel vans and dropsides on offer.
Prices reached an average of £17,400, with the basic medium wheelbase panel vans proving the top performers. The best example was a 3,103 mile Crafter 109 MWB High Roof panel van with no options which achieved 132% CAP clean.
A rare vehicle attracted colossal interest recently – a 30,000 mile Mercedes Sprinter 311 CDI LWB high roof 05/55.
Vans of this calibre are like gold dust and the £13,550 sale price reflected this. However, with any condition stock in the 3t-plus large panel van sector in short supply, bidding is strong with the trade buying anything that can show a profit.