As a college freshman, I enjoyed the mandatory Psychology 101 & 102 courses... but if I had known then that I would need to be counseling my customers now, I would have taken better notes! I'm telling you... seasoned and experienced auction pros are confused and conflicted with what is going on in this winter market and the joke is that they must need to see a "shrink".
The chatter at the block is staggering! Nobody is comfortable with what they have in inventory, don't know what to add or deduct form that inventory, and aren't sure what anything is worth right now. Generally, the market is flat (if not down) and traditionally [it] should be ticking up in terms of the number of bodies in the lanes (the very best barometer). Rather, there is a noticeable number of missing buyers and that's the primary factor pushing the market index down. The question is, where are these buyers?
For the balance of February... plod through your inventory and make adjustments, second guess conventional wisdom, and begin in earnest to embrace new methods of buying and selling "at wholesale" not JUST at auction.
W/
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
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