Drop tops finding favour
March 18th, 2009 by Richard Aucock
DEALERS are bidding high prices for convertible models, in an effort to meet a surge in customer demand.
BCA reports that a recent sale at Blackbushe achieved a 100 percent conversion rate – with one Audi A4 selling for 134 percent of CAP Clean.
The average CAP Clean figure from the 105 convertible models was 103 per cent.
A wide cross-section of models were represented, from cheap MGFs, to Jaguar XK8s and BMW 6 Series. Even high mileage or large petrol engines were no turn-offs. Turnover from the sale exceeded £1 million.
A statling 300 car dealers attended the event, with a further 87 bidding online.
Simon Rossiter, auction manager for LloydsTSB Autolease and Black Horse, said: ‘We have always offered convertibles at this point in the year at Blackbushe, but given the unsteady financial climate towards the end of last year, it was a brave decision to hold onto any used vehicles.’
He ended the day a relieved man. ‘Once again, and for the 5th consecutive year, it proved to be the right decision – and a tremendous success.’
BCA’s Alan Gupwell added that ‘the specialist convertible market has a strong following with buyers, and themed events such as this create a great deal of interest.
‘This was an excellent result for Black Horse, with even high-mileage cars outperforming CAP values by a significant percentage.’
Sample prices from the BCA auction
2007 BMW 635i Sport, 15k miles: £33,000 (106% CAP)
2005 Jaguar XK8 4.2 V8 Convertible, 38k: £21,300 (114% CAP)
2003 Mercedes CLK 3.2 Elegance, 127k: £8,500 (115% CAP)
2004 Audi A4 2.5 Sport, 123k: £7,800 (134% CAP)
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