Used car values have spiked over the last couple of years, so it's easy to understand if you are blasé about the idea of deflecting. However, each time a car remains unsold when an auction finishes, that vehicle will incur fees for storage and resale, not to mention experience a drop in value.
That's why your trusted valeting company tells you it's crucial to ensure that when you deflect, that you sell your vehicles the first time:
Cost Implications of Failing to Sell the First Time
We understand that when you are selling vehicles through an auction, there can be a lot of pressure to get the job done in a short space of time. In addition, you have an obligation to your customers to get their cars sold as quickly as possible to free up valuable space. This can lead you to lean towards simply deflecting unsold vehicles instead of selling them.
Selling on the first occasion is critical for cars already being auctioned. You will avoid unnecessary fees, but more importantly, you will prevent the experience-related drop in value that comes with being auctioned twice.
How to Ensure You Sell the First Time
1. Make Sure the Vehicles Are All Ready to Go
This seems obvious, but you'd be surprised at how many cars are auctioned in a substandard condition.
If your vehicles arrive dirty, shabby, or with broken bits and pieces, they will be less likely to attract potential buyers. You are essentially giving them an excuse not to buy.
2. Keep the Volume of Vehicles for Sale Down
There's a reason they are referred to as an 'auction.' The more cars you sell, the more it looks like a market. The fewer cars you have for sale, the less it seems like a random scattering of lots.
Keeping your auctions tight also means that you can be more selective about which vehicles you send through. If you have 50 cars to send through, you will be forced to send vehicles that aren't in excellent condition just to get the sale done.
3. Make Sure Everything Is Ready Once You Put the Vehicles Up for Sale
Setting up a vehicle for sale seems pretty straightforward, but there are several things you need to take care of, including a bunch of paperwork that has to be ready. After all, you don't want to be the cause of delay if someone wants to buy your vehicles fast.
4. Aim for the Right Timing
If you are selling through an auction that creates a deadline for vehicle collection, make sure the deflection date is before this. This is so the buyer will have time to inspect the vehicle and make a decision.
If they are looking to buy a specific vehicle, they will be willing to do whatever it takes to get one. That is why vehicles can sell for even more than their reserve price at the last moment.
Following the above recommendations will give you the best chance of selling your vehicles on the first occasion, ensuring that they leave your carport in top condition. Of course, you may find yourself in a situation where an auction gets out of hand, and you have to deflect a vehicle, and how you'll deal with that kind of situation will be discussed next time by your trusted professional valeting company.
Secure Group is a professional valeting company in the UK that offers tailored services to meet your specific valeting needs. Contact us today to find out more about our services!