Used Convertible Car Buyers Bucking The Trend

A recent sale of convertibles by leading vehicle auction company, BCA, bucked all the current reports suggesting a drop in consumer confidence.  Perhaps buoyed by recent sunshine, the convertible buyers were out in force and this strong demand meant that the prices achieved were very good for the sellers.

Retail sales figures for May 2008 saw the biggest increase in high street spending for at least two decades and well above forecasts for a slight downturn. Confounding predictions, some commentators believe that the increase was down to the good weather in May; others that it was a last ‘hurrah’ in defiance of the gloomy headlines.

For BCA, its latest convertibles sale staged in June was particularly positive, contrasting with general market predictions that used car values and used car demand is dropping.

With over 100 registered buyers in the auction hall, plus a further 47 bidding over the internet via BCA’s Live Online service, there was plenty of demand for the mouth-watering selection of 273 convertibles assembled for the sale.  Competitive bidding in the hall and online saw 247 ragtops sold on the day for a turnover that exceeded £3.3 million.

Strong sellers included:

Year Model Miles Sold Vs CAP
0404 Audi A4 1.8T Sport 59K £12,150 106.1%
0505 Honda S2000 2.0 GT 29K £15,600 105.7%
0655 Mazda MX5 1.8    9K £10,150 107.4%
0404 Saab 9-3 2.0 Aero 60K £10,000 103.6%
0505 Porsche Boxter 2.7 61K £17,000 108.2%
0505 Mercedes CLK 1.8 200 75K £18,100 128.3%
0606 BMW 630 CI 17K £32,500 106.2%

 “Although convertibles might be seen as niche, there is a strong following of buyers who either attend these special themed events in person or participate using BCA’s Live Online service” confirmed Tim Naylor, PR Manager, BCA.  “British motorists love their convertibles and we have seen tremendous demand for rag tops.  Whilst demand can push up prices, there are still some great value buys to be found at auction.”

25 July 2008 Staff

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