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BMW "virtual auction" shows strength of product

By / 11 years ago / Latest News / No Comments

The sale, staged at the Park Plaza Riverbank, London on 9 December, saw 325 cars offered live via a giant screen by BCA's auctioneers to over 100 BMW dealers.  

Turnover exceeded £9.2 million – the highest recorded in 2010 – and was equivalent to 113.8% of CAP Clean and 107.1% of Glass's Guide values. With an average selling price of £29,700, the sale achieved 73.3% of original cost new across the board, with ex-management cars averaging 80.7%.

The sale included a number of models making their used market debut, including the MINI Cooper D Countryman, the new 520d, 525d and 530d models, M Sport and SE Touring and the X5 X Drive 4.0d M Sport.

MINI Cooper D Countryman averaged 94.5% of original cost new, while the entry of 71 ex-management X-series models on offer averaged 86.1%. The 25-strong selection of BMW X1's averaged 90.5%, with the X5 range averaging 86.1%.

BMW's Open sales programme with BCA also recorded strong results as the year closed.  In particular, there was massive demand for the 4WD X-series models – 3, 5 and 6 – which averaged 118% of CAP Clean across the board in December.

BMW's group remarketing manager Tony Dean commented: 'Our partnership with BCA continues to generate outstanding results that represent the best that can be achieved whatever the prevailing market conditions. The virtual sale generated a substantial turnover and the exceptionally strong price performance against both guide prices and original cost new reflect the strength of our product offering.'

He continued: 'In addition, our open sales programme has gone from strength to strength in 2010, with December continuing to record strong results despite reports of the general used market softening in recent weeks.' 

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