He explained: “The older they are, the better value they are as a business van to savvy sole traders and SMEs looking at bottom-line profitability.
“The success of this sector has bucked the traditional trend for this time of year at the auctions, with values tending to soften with the effects of holiday season.”
Average selling prices and conversion rates have been affected during the past couple of months, mainly because of the seasonal lull although partly because of an increase in duplicated stock.
Spencer said he believed the auction market would bounce back in early to mid-September, so that between now and the end of the year, average selling prices and conversion rates should increase.
But he added that is was anyone’s guess how de-fleet volumes would fair for the remainder of the year.
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