Vans to sell? Now’s the time to do it

Remember 2008 when nobody was buying anything? That’s why there are so few used vans now

THERE’S more good news for anyone with used vans to sell this week, with the announcement of record used van values from Manheim Auctions.

It all dates back to the dark days of 2008 and 2009 when the number of new vans being bought plummeted.

Four or five years down the line, this has translated into a dearth of used vans being offered – hence the high prices being achieved.

The average selling price of a van at auction has risen to £4424 (a year-on-year increase of £33) – the highest recorded figure since Manheim began tracking used van values in 2007. The previous record was in April 2010, when values peaked at £4317.

While the average age of all LCVs sold in the month climbed from 59 to 65 months, average mileages rose from 82,295 to 86,427 over the same period.

Tim Spencer, commercial vehicle manager at Manheim Remarketing, commented: “We’ve seen some interesting trends in the last few weeks, with large panel vans over three tonnes up by £515 compared with October, despite their average age increasing by four months and mileages up by 2267.

“In fact, half the vans sold in November in this sector had an average age of 84 months and 120,000 miles, confirming the shortage of younger stock in the auction halls.

“Small panel vans are behaving strangely because of vendor mix. With vans extended by contract hire and single colour fleets, there was also a mix of ex-daily rental younger, lower mileage stock.

“We’re continuing to see remarkable demand, with buyers clambering to secure stock – confirming the huge appetite for well-maintained vans in this segment.”

Looking ahead, Manheim is seeing a trend emerging in used van values from its online sales data, when comparing this to physical auction.

James Davis, Manheim’s head of commercial vehicles, said: “Over the past 12 months the average age of vans bought online has increased by eight months, with mileages creeping up by only 4000.

“As a direct result, average selling prices online have fallen year on year by £463, reflecting the older age profile. We’ve seen the total opposite in the halls, as average selling prices have increased over the last 12 months by £814, despite age and mileage broadly remaining flat. This shows that online buyers are having to cherry pick the lowest mileage, older vans available to satisfy demand.”