Strong start for online remarketing sector in 2011, says G3
'Uncertainty always surrounds the beginning of a year, and even more so this year. However results from our online auction are encouraging,' reports Tom Marley, head of projects and development. 'With the continued investment in disposal platforms and additional off-site sales we are able to bring more stock to the market for our buyers and achieve greater results for our vendors. Our inaugural off-site VIP auction demonstrates our strength with a 100% conversion for 98% of reserve.'
The firm also reports a shift in the types of vehicles that are proving popular in the first months of the year, with a surge in demand for cabriolet vehicles, which are achieving on average 103% of CAP Clean.
Looking ahead to the first quarter, G3 Remarketing believes the outlook remains upbeat after reporting a 25% increase in its weekly website traffic and an increase of 18% of new registered buyers.
'We are predicting that CAP will increase its book values in February, which will hopefully not stagnate the market. Quality stock remains scarce, therefore values for certain vehicles should remain buoyant, however as the age and mileage of the remaining stock increase, values for unloved stock will come under pressure.'