Skip to main content

Don't Let High Miles Fool You

At auction the previous two weeks, the one trend that you here repeated is, "... man, there are just no cars out there...". What buyers are saying is they don't see the vehicles they want in the mileage brackets they (think) they want! The reality is that there are so many cars and trucks at auction in a mileage bracket many just plain old don't care to pay attention to.

A 1998 Nissan Pathfinder is an "old" unit. Now add 203,114 miles! If you where under the gun at your Honda dealership or Ford store on a rainy Tuesday night and this looked like the last customer of the night (who is also tired because she has been shopping your competition all day), what would you put on this vehicle? Try again! You could miss that vehicles value by $1600 and may be thinking that it's not even worth $1600... and you would be right. But what did this unit sell for? $3,200 in Connecticut on 2-24-10 at wholesale auction.

My point is that while we are all consumed with searching out the lowest mileage, cleanest, best equipped unit we can think of, your customer may not be. She would trade to mileage a lot higher than you think because anything less that 203,114 miles would be lower miles! Don't fear the miles... not everybody drives a new car!

Comments

Post a Comment

Popular posts from this blog

Late Winter Market

It's not the northeast weather that is keeping the wholesale market in check, it is the overall blanket of slow retail sales at both new and used car retailers! * Subaru product is the most in demand at auction now, Hyundai another sought after product line. * Toyota shows increased prices on non-recall units, but not as strong as you might assume... more trouble ahead for the giant retailer? * The availability (or pure #'s of units) crossing the block is down at auctions overall; and the old economics 101... supply v. demand... is not at work right now. * As stated last post, large trucks are softening, luxury SUV's firm. * Honda Civic strong, Buick (yes, Buick) in demand: 2004 LeSabre LIMITED with 44K sells at an astonishing $9900. Compare that to a 58K 2004 Toyota Camry selling at $8900! Go Buick, go. * It is the economy, stupid. When it is all said, people are not grabbing out for another or new car. We are in a replacement mode at auction- that's it. Chat soon
1 comment
Read more

A Resignation That Opens The Door

Just one year ago this week marked a point that I had never been before over a 30+ year career and it was a professional decison that had to be made. I was not healthy and I was not at the lofted level of dedication I'd held myself to. The decision was easy! I resigned. I committed to my team to a seamless transition and told them there would be no disingenous goodbye followed by an announcement on the competitor I was going to join. Resignation became dedicating more time to my family, friends, my health, and to the larger community that surrounds us all. Unencumbered by a business culture stalled in its own way, I relished "taking the high road" journeying thousands upon thousands of miles with eyes and ears wide open and no timetable. And there it was in front of my wife and I every trip we took: The door of opportunity swung wide open with one clear-cut decision. A year on now spiritually and bodily rejuvenated, I re-engage to be purposelful in mentoring ...
Post a Comment
Read more

In position for 2019

2019 is on the doorstep and it's a knocking! The other sound you hear is the swirling, swarming change the auto auction business is going through and a major thrust came today from the venture capital market! Not new to the market any longer... far removed from the start-up it was referred to as... and now financially positioned to expand our technology and geographic scope, ACV Auctions is better positioned to put your wholesale, aged, and duplicate inventory in front of a variety and depth of automobile buyers that the wholesale auction market has never seen. 20-minute auctions, in depth condition reports, title services, and transportation logistics combined with the efficiencies of conducting your auction business from your phone are the game changes that Bain Capital Partners, Bessemer Venture... and dealers across the US are banking on to position their business for the dynamic that is in front of us the next 12 months. Are you in position to adapt? Contact me or any of ...
Post a Comment
Read more