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ANDY PICTON'S AUCTION BLOG: Widening price gap
Date: Friday, June 21, 2019
At auction there is a growing price gap between quality, ready-to-retail vans and tired, damaged vans.
Some vendors report conversion rates as low as 50%, meaning the poorest stock is difficult to sell.
With growing stock availability, auction companies are planning additional sales across the country to help combat this issue.
Whilst the Ultra-Low Emission Zone (ULEZ) in London raises awareness of Euro6 product, buyers are still unwilling to pay the premium prices set by vendors. Currently, most buyers remain happy trading in Euro5 stock.
For small vans, 75% of sales in April were for models over four years old. In this age range, ex-utility VW Caddys, Vauxhall Combos and Fiat Doblos proved good value for money, with tidy examples of the Renault Kangoo and the previous-generation Transit Connect also selling well.
The best-presented and higher-spec medium vans achieved the strongest prices, especially the Ford Transit Custom and VW Transporter. Crew vans are very popular, while panel vans with aircon attract the most attention. Buyers keen for value vans see the Transit 280 SWB as prime stock, along with older examples of the Citroen Dispatch and Vauxhall Vivaro, with sales of stock over four years old accounting for more than 60% of sales in this segment in April.
Poor condition and high miles tend to blight large van prices. In good condition, the current-generation Transit receives significant attention. Short- and medium-wheelbase van prices are holding steady while LWB vans tend to have weaker prices.
Rarity continues to drive demand – uncommon examples of curtainsiders or caged tippers deliver solid prices.
Less than 7% of sales in the 4x4 pick-up segment was for stock less than two years old. Stock availability remains high, and when coupled to unrealistic vendor price expectations continues to result in limited sales success.
Andy Picton is chief commercial vehicle editor of Glass’s, the used vehicle valuation experts.
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