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After the auction
Before you sell     About the auction         
   
 

We have had our company car up for auction and it has not been sold, what course of action do you recommend from here?
We recommend that you register your company car again but with a lower reserve price. We do not advise registering again with the same reserve price. Our experience has shown that: The lower the reserve price, the higher the level of dealer interest - this is due to bidders misconception that their chances of purchasing the vehicle are escalated. In reality their chances of purchasing at a lower price decline. Bidding activity increases due to like minded dealers also wishing to purchase the car at a lower price, this has the reverse effect, driving the sale price up.As a rule, the best price is attained the first time the car is registered for auction - this is because many dealers will not allocate time placing a bid on the same car more repeatedly. If the dealers felt the reserve price was unrealistic in the first place, then tendencies are to ignore the car in subsequent auctions. It is therefore extremely important to lower the reserve price when registering a car again. The dealers are informed that the reserve price has been reduced, which may result in them placing another bid. If you do not already have pictures of your company car, we recommend that you add them to your car description. If you have described a defect such as a scratch or dent, it is advisable to take a picture of this as well. Pictures of the car's defects help give those placing bids a thorough idea of the overall condition of the car. An honest description including pictures of defects result in a higher purchase price in comparison to a vague description.
   

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