Car manufacturers and the iPhone generation

536 More

Earning the right to be successful

519 More

Knowledge is power

593 More

Selling cars – it’s all about timing

835 More

Truemag

  • Home
  • About
  • Advertise
  • Archives
  • Contact
  • Subscribe

Auction fever – don’t catch a cold

Yesterday we spent most of an unfruitful day at the auction, watching even average cars make way above average money! There were probably 30% less cars than usual in the line up and roughly the same amount of extra people there, so at least the canteen trade was brisk. On entering the hall it immediately became obvious that this was not for the faint hearted, you needed to seriously want to buy a car to pay the kind of money being paid for cars today.

We watched our particular best seller a 53 plate mini one make £1,100 more than we thought it was worth and some Volkswagens make that and then some more, even Renaults and Peugeot and obscure late plate 4wd were having their day in the sun. You couldn’t help but get the feeling that where this place used to be the domain of the trade buyer, the auctions are getting so good at it that private buyers can now buy with confidence, thus pushing prices to the limit. Whilst this was happening there will be no doubt that somewhere in the UK there were meetings being held about potential redundancies and cost cutting measures, which only go to show the extremes of selling record numbers of used cars and a virtual trickle of new examples.

We witnessed the stark reality of auction fever, of buyers not really thinking straight but simply having to be the best bidder. We just hope that if things slow down in the near future and they look at those same cars gathering dust on the line up – having been discounted for the 3rd time – that they don’t live to regret it.

Feb 18, 2009In51der
  • Car Auctions
  • Used car values, auction fever and the appreciating asset
  • Auction houses doing good business as prices edge higher
  • Auction buying frenzy – something’s got to give
  • Auction fever – who can predict the outcome?
  • Inside the car auction – let the bidding commence
  • 47,000 jobs to go worldwide at GMGM considers 'several' plant closures in Europe
    You Might Also Like
     
    Complaints about used car dealers up 8 percent in 2009
     
    Used car buying – The Internet has changed everything
    In51der

    Motor Trade Insider - Bridging the gap between the customer and the Motor Trade

    12 years ago Auctions, Blog, Consumercar auctions, Used car, Used car buying48
    Most viewed
    Top 100 UK Dealer Groups
    38,160 views
    The car sales process and the “9 point plan”
    10,544 views
    webuyanycar review – They will buy any car but beware of the asterisk
    5,324 views
    Most commented
    Car sales and the power of silence…
    25 Comments
    Car dealers still not prepared to play the “we buy any car” game
    23 Comments
    A Traders Tale – Part Four
    22 Comments
    Win a pre-loaded Ipod Shuffle!
    19 Comments
    Bargain of the Week – StreetKa 1.6i Luxury
    14 Comments
    Bridal Hair Berkshire
    Fox Body to 2018 Mustang Parts
    and Accessories
    About MTI

    Motor Trade Insider
    is written by people working actively in the motor trade for people on the inside and people on the outside.

    Our aims
    Build a bridge between consumers and the trade, create Interesting and informative content, break down barriers and create better understanding, expose bad practices and rip-offs and promote outstanding products and service.
    Have something to say?
    We are always looking for experienced writers who can write good original quality posts on motor-trade-insider.com. Please contact us if you would like us to consider you. Make sure you give us details of your own blog or a link to some articles you have written.
    2017 © Motor Trade Insider
    Truemag theme by StrictThemes