Public heading to auctions

Time 8:00 am, November 6, 2008

SHIFTS in perception are seeing more members of the public attending actions than ever before.

Manheim reports that, even 10 years ago, auction halls were seen as intimidating. Not anymore, as a recent survey it conducted shows.

And if this is a growing trend, it’s one you need to watch carefully – for all the usual reasons of at-source buyers cutting you out, or getting carried away and pushing prices up realistically high.

The gentrification of auction halls has brought in more women, too: a quarter of people surveyed were female, and 30 per cent were first-time buyers.

Surprisingly, 40 per cent of buyers travelled more than 50 miles to attend the auction: 10 per cent covered more than 100 miles.

Chris Cush, general manager of Manheim Colchester, said: ‘With pressures on family budgets rising as a result of the credit crunch, we have noticed a significant increase in the number of private buyers attending auctions, enjoying the experience and telling their friends and families.

‘Feedback from buyers on ease of parking, restaurant facilities and helpful staff who can explain the auction process is very encouraging.’

Maybe not for everyone, if it means bargains slipping away…

Car Dealer Magazine's avatar

Car Dealer has been covering the motor trade since 2008 as both a print and digital publication. In 2020 the title went fully digital and now provides daily motoring updates on this website for the car industry. A digital magazine is published once a month.

More stories...

Server 190