Carwow has switched to a ‘round-the-clock bidding model for its auctions, giving dealers earlier bidding access.

The new bidding model will provide dealers with greater convenience and flexibility

Bidding for its auctions will now open at 5:00pm the day before, going through to 3:30pm the following day; extending bidding time to nearly 24 hours.

Its online daily auctions provide access to more than 12,000 car and LCVs each month and the new bidding model will provide dealers with greater convenience and flexibility.

Carwow also analysed its figures for the last three months and found the Hyundai i30N was the vehicle quickest to reach its reserve price, based on Cap HPI ‘Clean’ valuations; it achieved the reserve in just over one hour of the auction going live.

Second-quickest to hit reserve ranking was the Audi S3, followed by the BMW i3, which also marked the first electric model in the top 10. The top five was rounded out by the Mini Hatch and the Volkswagen ID.3 EV.

Completing the top 10 was the Nissan Qashqai in sixth place, followed by the Ford Focus ST and Ford EcoSport. In ninth was the Vauxhall Mokka, and finally the Nissan Note, the list with a time of just under three hours.

Analysis by brand reveals that Kias reach their reserve price most rapidly in Carwow auctions, followed by Volvo, Peugeot, Fiat and Hyundai. The rest of the top 10 by brand continues with Ford, BMW, Citroën, Mercedes and Dacia.

“This snapshot gives an interesting insight into the makes and models that are most in demand in our daily auctions, reaching their reserve price in record time,” commented Carwow UK’s director of sell my car, Sally Foote.