The firm’s latest Market Analysis shows that the average value of vans sold during September 2014 was £4,692, which is £438 or 10.3% higher in comparison with the previous year. This rise in values at auction is despite an increase of one month in average age and 263 miles in average mileage. The month-on-month price remains fairly constant at £4,692, compared with £4,701 in August 2014.
The strong values in the used van market are also reflected in the percentage of original new price, which is Manheim's comparison between the used and new price of vans. This measure shows that vans are currently achieving 28% of their original price, compared to 26% a year ago.
Looking at the data in more detail, Manheim's analysis for September 2014 shows that the average selling price of small panel vans grew by 14.8% to £4,733 over the past year. Large panel vans over 3 tonnes saw a rise from £4,815 to £5,335 (10.8%) and car derived vans increased by £132 to £3,363 over the same period.
Matthew Davock, head of light commercial vehicles at Manheim, believes that van prices will continue to increase as winter approaches. He said: ‘The market performance has remained very healthy in the recent weeks, but stock shortages have remained a concern, which will maintain demand and prices. Vendors are typically enjoying conversion rates of 80% plus and when stock profile matches buyer requirements 100% sales are the norm, even with damaged product being snapped up in the absence of cleaner vans. We don't see any significant changes in volume trends, which will only contribute towards a continued strong marketplace for the remainder of the year.’
Davock added: ‘Auction footfall has increased during September and our online system, Simulcast, has seen buyers keen to log on and source stock all over the country. Online bidding is clearly playing a more important role in the van auction market, with our recent sale at Gloucester setting new records for online bids. There were 417 buyers in attendance at the Gloucester auction on 2 October, 62% of whom were online bidders.’
