Attendances at auctions across the UK have remained buoyant, with buyers continuing to search for the best stock on offer.
The average LCV auction sale price increased by a further 2.1% in October and now stands nearly 15% higher than at the same point last year. The average mileage of those sold increased by 685 miles, but is still 2,545 miles lower than 12 months ago. Of those sold, 84.4% found new homes at the first time of asking – the highest percentage for the past year.
Meanwhile, nearly 11,000 units sold at auction during October, up 2.7% on September and 14.9% up on the same point last year. With demand continuing unabated for good-quality stock, any straight examples serving the construction industry, home shopping or small sole trader/SMEs have been sold for ever-strengthening prices with vendors enjoying excellent conversion rates.
Blue utility Volkswagen Caddy vans remain a regular sight at auction, as does the Citroen Berlingo 625 Enterprise and the current-shape Ford Transit Connect. The best examples of the latter two, especially when offered in a metallic colour, received plenty of interest, continuing to perform to Glass’s values.
The medium panel van sector remains the most popular with more than 36% of all sales taking place here and two- to four-year-old stock proving the most sought after. The Ford Transit Custom, VW Transporter, Renault Trafic and Vauxhall Vivaro continue to sell in the biggest volumes, with crew van and Kombi variants still selling for huge premiums.
Demand in the large panel van sector saw prices for dropsides, tippers and Luton vans firm, while the continued increase in internet shopping has seen values for tidy, large panel vans – particularly the previous-generation Transit 280 and 350 – with sensible mileages surge.
The market for 4x4s is still improving as is the average sale price, which now stands at £9,888, up £274 on September this year and £96 on October 2016. Volumes of both the Nissan Navara Tekna and the Mitsubishi L200 Barbarian remain high and feature in the top 10 list of models sold last month.
Andy Picton is chief commercial vehicle editor at Glass’s, the used vehicle valuation experts.