Commercial vehicles
BCA Top Tips on Buying a Van at Auction
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Be Prepared
Be prepared by getting a sneak preview of what’s on offer by logging onto BCA’s free service www.commercialauctionview.com. If there is a specific type of van you are after, checking out Commercial View will help you locate what you want and will let you know when and where it is being auctioned. And on the morning of a sale, have a flick through the catalogue to see if anything takes your fancy. If you are not that sure about vans yourself, bring along someone more experienced.
Arrive in good time on the morning of the sale, especially if you are looking for a specific vehicle, as this will give you a chance to have a look at what is available. If possible, we recommend selecting a couple of ‘back-ups’. Then if you’re unlucky in bidding for your first vehicle, you still have a chance with your subsequent choices.
Sold as Seen
From a seller’s point of view, auctions provide an efficient and quick way to sell, and generally all commercial vehicles are ‘sold as seen’. This makes it even more important to give the van you are interested in a thorough inspection before the auction starts. Checking the overall visible condition is up to you, so look for damage on the panels and check the interior load-space, for example. All these factors are 'sold as seen', so take every opportunity to examine prior to entering the auction hall.
When the auction starts, vehicles are driven in lot order in front of the rostrum to be sold. This is your chance to listen to the engine running. Stand somewhere the auctioneer can clearly see you and bid by waving your catalogue to catch their eye. Then, once the auctioneer knows you are bidding, a simple nod is sufficient for each subsequent increment. Typically, bidding is made in £100 increments; however it is not uncommon for £200, £500 and £1,000 bids on high value vehicles.
Set a Limit
Setting a limit on what to spend is sensible. Bidding at an auction for the first time can be daunting, but at the same time addictively exciting. However, try not to get too caught up in the moment! Remember, you are there to buy your van for the best price possible.
Great deals available
If bidding doesn’t reach the reserve value set by the seller, the vehicle will be sold provisionally to the top bidder. The auctioneer then contacts the seller to see if they will accept the bid. More often than not, sellers still approve the sale, which means you could be getting a great deal on your next vehicle. And don’t forget that VAT at the current rate (currently 17.5%) is payable on top of the hammer price, unless stated by the auctioneer. Being a VAT-registered owner of the vehicle, this element is reclaimed by the taxman on top of the sale proceeds.
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