Recent research has found a significant difference in the prices paid for commercial vans sold online compared with those sold in the auction hall during the last year. Analysis showed that, while the value of vans sold in the auction halls fell by 3.4%, those selling online saw their average values increase by 10.9%.
Significantly, when compared with commercial vans sold this time last year the average age of vans sold online has increased by four months while the age of vans sold in the auction halls increased by twelve months. Over the same period average mileage of vans sold online increased by 3,360 miles while that of vans sold in the auction halls went up by 8,410. Fleet managers are having to do much more research because there are pros and cons to both online and auction hall sales and they are all fighting for the best price possible on a van that they will protect with cheap van insurance.
James Davis, director of commercial vehicles, Manheim Remarketing, said “It is clear that there has been considerable used van inflation in the wholesale market during the last year. Overall vans are nearly a year older, with 8,000 more miles; yet average sale price has remained level. The new analysis clearly shows the significant contribution made by online van buyers. We regularly see audiences of up to 200 physical and 150 online buyers at our auctions competing to secure vans from stock levels that will continue to decrease over the next eighteen months.”
Buyers are looking at a combination of age, mileage, condition and specification and it is the best vans that are being fought over most intensely by fleet managers. Dealers are having to diversify their stock and are looking further afield to fill gaps with vans they may not have previously considered because of age and mileage.