Extraordinary auction returns
With vehicles in shorter supply, and the level of demand for used vehicles being particularly strong as the public remains careful about using public transport, vehicles in our auction have been seeing outstanding returns. Our vehicle management experts have been carefully managing our stock to ensure that we continue to benefit from this increased demand, even as supply continues to increase.
We now have over 40,000 active members bidding and buying vehicles, with more and more new registrations each week. This growth in our member base demonstrates the strength of both our auction and member proposition, which is increasingly important to continue to build our industry leading marketplace, and drive competition for your vehicles.
Keys are the key!
Our data shows that vehicles sold through our auction with keys can achieve on average 30% more at sale than the equivalent without. It might sound like an obvious statement, but a vehicle with keys is more desirable to a buyer. A vehicle that is listed for sale at auction will:
- Drive buyer confidence
- Reduce additional costs for buyer
- Reduce ‘aggravation’ factor for the buyer – enabling quicker re-sale
- Minimise processing time, and therefore maximising re-sale value
Borderline decision making is more valuable than ever
Pressure on supply chains due to increasing numbers of motorists returning to the roads coupled with the industry having been largely locked down for a significant portion of the year is continually impacting the cost of repair. More than ever we are seeing the need for quick and intelligent decisioning on borderline cases being essential in order to maximise returns, and our data on millions of vehicle transactions enables us to provide the best possible view on how each case is likely to perform at auction.
Our team are able to check expected returns based on our current auction performance against the total cost of repair, to assess and provide insight into the right decision on a vehicle, meaning you can provide a swift and sensible resolution to your customers whatever the outcome may be.