CD Auction Group's new specialist sale will give vendors a high profile channel to achieve maximum value for late-plate stock and will be an addition to CD Auction Group’s regular vehicle sale programme which, until now, has focused mainly on typical three-year old, ex-fleet and business finance cars and vans.
Roger Woodward, managing director of CD Auction Group, said: “There is clearly rising demand for high quality, late-plate stock up and down the country and we believe our online auction will get these vehicles the national attention they deserve.
“We have a database of eager buyers from franchised dealerships, leading used car independents and major used car supermarkets on our books and they are telling us they are desperate for late-plate, which is becoming increasingly hard to source.
“On the other hand, we are confident we have a good supply of high quality vehicles coming from our friends at car manufacturers, short cycle leasing companies and rental stock.
The first sale will take place in late-February with over 100 cars available for bids and CD Auction Group hopes to grow the business to the point where it justifies two sales a month. The late-plate auction stock will be cars up-to 18 months old and with a typical average mileage of 10,000 miles recorded.
Although the vehicles in the sale are nearly-new, they will all be fully described by CD Auction Group’s comprehensive condition reports and high quality digital photographs – allowing buyers to bid in complete confidence to achieve maximum value.
“In the online world, it is vital that you build confidence between the vendor and the buyer,” says Woodward. “We are so confident of our descriptions that we guarantee them. What you see is what you get, or we will rescind the sale.”
Woodward confirmed that demand for all vehicles through CD Auction Group has been at record levels since the beginning of the year, leading to fast stock turn and rising values.
“We have around 30% more buyers looking for cars than before Christmas and, for some popular vehicles, there has been a bidding frenzy,” he said.