A claim that commercial vehicle hire and lease companies are selling their vans at auction with no reserve has been refuted.

George Alexander editor of Glass’s Guide to Commercial Vehicle Values claimed that “the big vendors have slashed their reserve prices, or even moved to selling without reserve.

"This ensures that potential buyers will bid to their maximum, whereas a ‘provisional’ bid against a high reserve will often result in both parties being disappointed.”

Alexander said this represents a “change of strategy by the major leasing and rental firms”.

However, the two biggest auction houses – BCA and Manheim – have both said they have seen no evidence of a change in strategy in terms of selling no-reserve LCVs.

Manheim spokesman, Andrew Andersz said: “While having spoken to a number of my colleagues who interface directly with the fleet/leasing sector, there is nothing to support what you have suggested ."

BCA spokesman Tim Naylor added: “If it is being done on a wider basis - and I repeat we have no evidence of this - then it might be as a result of a rising market that the vendor feels confident that values are likely to shoot past any reserve they might set, so why bother?"

CAP backed this up, saying some auctions will see occasional no-reserve vans but these tend to be “either in a very battered condition or insurance write-offs - cat Cs and Ds,” said Ken Brown, CAP current valuations manager for light commercials and valuation manager for CAP Red Book.

“I am not aware of vendors using 'no reserve' as some sort of marketing strategy or seeing any more than normal.”