The system, launched in May this year, provides valuations at more frequent intervals than the old ‘monthly’ system – and ensures that users can find the most accurate valuation for vehicles at any given time.
Rather than being tied to print deadlines of around the 23rd of the month, Black Book Live’s data is just that: live. Price changes are published as soon as they occur, and are generally no more than around 14 days old – something that can make a huge difference.
A release by the company shows just how much variation can occur, with a Ford Focus 1.4 Style rising nearly £300 in a six day period – a fair proportion of its original £3,900 valuation.
To ensure accuracy, Black Book Live’s prices are researched by ‘a team of expert editors, each specialising in their own vehicle sectors,’ says the company.
Provided an editor is satisfied that there’s sufficient evidence to warrant a valuation change, it’s published to the site – along with a brief rationale on why the change has occurred.
‘We introduced Black Book Live to give customers a clearer view of market turns as they happen,’ said CAP’s Mike Hind, ‘because a monthly guide is instantly behind the curve when prices change.’
‘The bottom line is, you can’t serve customers properly in a moving market if you can’t move with it.