Auction sales prices up 10%

Average sale price achieved at auction up 10% in October, says NAMA

Auctioneers

Average sale values at auction increased by more than 10% from September to October, according to the latest monthly car auction data report from the National Association of Motor Auctions (NAMA).

The report, published on Thursday, shows that the average selling value rose by "an impressive" 10.7%, from £4,829 to £5,347.

First time conversion rates fell by 2.2 percentage points to 80.1%, but were still up 1.1 points compared with October 2015.

The average mileage of cars sold at auction dropped to 65,847, from 67,799 in September.

The report also reveals that the average first time sale premium was £186 -- down by £6 from September, and down £107 on the same month last year.

Louise Wallis, head of NAMA, commented: "Auction activity has cooled slightly from its peak in September, however, conversion rates remain strong for the time of year and ahead of 2015.

"Whilst auction volumes sit outside the scope of this report, it is believed that the strong overall conversion rate in October was not due to a shortage of supply -- thus indicating that retail demand remains buoyant.

We look forward to seeing what the auction market has in store as we approach the Christmas season.
- Louise Wallis, head of NAMA

NAMA represents member auction companies of all sizes selling cars, commercial vehicles and off-road vehicles.