A ‘virtual’ sale conducted by BCA on behalf of the BMW Group recorded a 100% conversion and generated a turnover in excess of £8.4 million in June.
The BMW Virtual Sale took place on 10 June and a total of 325 cars were offered from BMW. The cars were stored and pre-sale prepared at BMW's distribution centres.
The auction took place via a screen in a suite at the Fairmont St Andrews where BCA’s auctioneers and over 130 BMW dealers were gathered. A comprehensive selection of vehicles were offered, including debuts for MINI First, MINI Camden and MINI Mayfair, the new 760 Li, the X1 2.0 D auto and M3 Editions.
Every car sold for a 100% conversion that generated £8.42 million – the highest turnover recorded for a single vendor sale this year. Values averaged an exceptional 112.6% of CAP Clean across the board, with ex-management vehicles averaging 81.7% of cost new at nine months old and 5,000 miles.
Among the strong sellers, X1 averaged 123.9% of CAP, new Z4 sold for 122.9% of CAP and new 7 Series averaged 116.2% of CAP. Also performing exceptionally well against CAP on the day, 1 Series averaged 114.6%, while new MINI averaged 113.3%, just marginally ahead of new X5 at 113.1%.
BMW’s remarketing manager Tony Dean commented “The presentation by BCA was to the highest standards and everything ran like clockwork. This was an outstanding event that achieved a near record turnover for BMW and an exceptionally strong CAP price performance across the board. Despite reports of the general used market softening in recent weeks, the confident bidding on the day reflects the strong retail demand being reported by our dealers.”
BCA’s account manager Simon Young added “These Virtual sales are now a well-established event within the BMW sale programme and are well-supported by the dealer network, which is reflected in the excellent performance against CAP Clean. By selling 325 cars for an average of 12.6% above guide values, BMW have clearly bucked the general market trend with this sale.”
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