Buyers increasingly confident with bidding online
Simulcast, Manheim Remarketing's trade-only simultaneous online broadcast of physical auctions, has sold nearly £130 million worth of cars, vans, trucks, motorbikes and plant since the beginning of the year. What is most surprising is that the products sold come in all shapes and sizes with prices ranging from £10 to £165,000.
When compared with the first six months of 2009 the total number of products sold via Simulcast has increased by 12%. However there have been significant increases in several car price bands including numbers of vehicles sold up to £500 increasing by 55%, cars costing £1,000 to £1,999 up by 75% and cars above £20,000 up by 92%.
Car prices ranged from £10 for a 1989 Citroen 2CV to £165,000 for a 2007 Lamborghini Murcielago while van prices ranged from £200 for a 1999 LDV 400 3.5t 2.5D to £25,000 for a 2007 Ford Transit 350 RWD TDCi.
Mike Pilkington, managing director, Manheim Remarketing, said: 'The vast range of products sold via Simulcast never ceases to amaze me. I can understand how buyers may feel comfortable to bid for a relatively new, averagely priced car, van or truck but buyer confidence in the process is based on the trust that is underpinned by the information supplied by Manheim Auctions. Buying a car for less than £500, a van for £25,000 or a truck for more than £34,000 without actually seeing it in the flesh or touching it is testament to the level of confidence that our buyers have in Simulcast, which has been carefully nurtured over many years.'For more of the latest industry news, click here.