Why are auction prices so high...?

Honest John Back Room » Motoring discussion
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Thu 22 Sep 2005 20:38
Why are auction prices so high...? - CJay{P}
I wonder if people with their ear to the ground can shed some light?

I have been trying to buy a car (lets say an 'executive' car) from an auction (I employ an auction buyer) for the last 6 weeks or so. Currently, these cars are fetching typically 7-15% ABOVE the glass/CAP guide book price. Previously, I have never paid above GLASS guide - usually a good 5%-8% less.

My auction buyer tells me that limited supply driving prices. Sounds reasonable. September usually sees up to 0.5 million cars being registered. We are now coming towards the end of September, yet supply hasn't picked up. Where are the 0.5 million second hand cars?
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Fri 23 Sep 2005 00:02
Why are auction prices so high...? - CJay{P}
Isn't it the case that, for instance, the 3 series outsells the Mondeo? Even the 3 series is pretty dear, and not many about according to AuctionView.
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