“The market of the week November 5 continued in much the same vein as the past week, with more enthusiasm, competitive bidding and general overall interest, quite high.
The 'major players' in the market are again buying for stock and it is very encouraging to see that prices are back to the level that they were, pre mid-September. Bread and butter cars are more in line with Cap average/Cap clean and the high spec models are demanding their own individual prices.
The top quality model's like Mercedes, BMW, and Jaguar are defying market feelings and are attracting plenty of bidders who are willing to pay top money for these vehicles. Most pundits have been saying that this class of vehicle is now and will be undesirable, are being proved totally wrong at present. I have to say that these vehicles do really look good value for money. No doubt many executives will want to “offload” these quality cars as company vehicles, before April 2002 but that is certainly not reflected in today's market.
Whilst the market has returned to a more buoyant one, let us still 'keep our feet firmly on the floor'. The 100,000 mile-plus cars in white, dark blue, burgundy and dark green are still very difficult to move and that the market has still remained tough for those vendors who, over the past four weeks have adjusted their reserves accordingly and reacted to the market as it was, have generally still been moving most of their stock at first time of asking and even though the market has improved, it is important that these high mileage, uninspiring coloured very average vehicles are priced to give buyers the incentive to bid and move them out of the market. These are the vehicles that are causing a major loss of revenue if allowed to go on the 're-entry merry go round'."