Auctions Lose Out to Online Sales in the Used Van Market
Tuesday 10 April 2012 Back to Blog
Traditionally, van operators that dabbled in the used van market used van auctions to find an appropriate vehicle.
According to leading van auction house Manheim the auction hall has recently taken a hit from online sales.
Director of Commercial Vehicles for 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. Manheim's 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 18 months.
"There is no doubt that vans attracting online bids are the more desirable and rarer vehicles through a combination of age, mileage, condition and specification.
"It is these vans that are being fought over most intensely by both physical and online buyers. In 2011 51% of all vans offered attracted an online bid; but they weren't all the most desirable vans.
"It shows that dealers are having to diversify their stock profile, and are looking further a field to fill gaps on their sites often with product they would not have previously considered in terms of age and mileage."
The average value of used vans sold at auction fell by 3.3% at auction houses while online average sales value increased by 10.8%.