Demand for prestige cars is rising according to the latest data from BCA.
June sales nationwide saw strong bidding across a range of performance
cars and exotica, suggesting buyers are happy to invest in these
high-end, high-value machines. Professional buyers have been attending BCA’s programme of Top Car
sales in large numbers and bidding has been exceptionally competitive -
even for cars approaching six-figure values.
As a result, values for
many cars in the prestige and performance sector have risen sharply
against CAP Clean.
In recent weeks BCA
has sold a 2007 Bentley Continental GT 6.0 Convertible for £92,500
- a staggering £12,600 (or 15pc) above CAP Clean,
while a Bentley Continental Coupe sold for £79,000, more than £7,000
(10pc) above CAP.
A 2007 Aston
Martin DB9 V12 Coupe sold for £72,500 at 9,000
miles, achieving £6,000 or 11pc above CAP, while a 07-registered
Aston Martin V8 Vantage sold for £50,400 at 4,000
miles, a substantial £7,000 or 16pc over CAP values.
A 2005 Aston Martin DB9 V12 at 20,000 miles sold for £49,400,
equivalent to 110pc of CAP.
A 2007
Maserati Quattroporte V8 Executive GT saloon sold for £41,000
at 23,000
miles and a 2008 Audi RS6 V10 Quattro Estate sold for £57,200
at 12,000
miles - with both achieving nearly £4,000 above CAP.
Competition
between buyers has seen strong values for BMW with a 2008 M5
Saloon at 10,000
miles selling for £49,000 (117pc CAP), and a 2007 BMW M34.0
V8
DCT Convertible at 7,000 miles realising £47,800
(115pc CAP).
Other strong
sellers in recent weeks included a 2003 Ferrari 575M
Maranello sold for £47,500 and a Ferrari 360
Modena from the same year that realised £56,400,
while a 2008-registered Lamborghini Gallardo Coupe sold for £85,500,
and a 2007 Gallardo Spyder Roadster sold for £87,000.
Simon
Henstock, BCA's UK Operations Director commented "Last year values for sporting
and performance models came under pressure, and it was widely believed the
reduction in City bonuses affected demand earlier in2009 , ironically just as
other used car sectors were recovering. Interest has been building all
year, however, and values have improved notably in recent weeks."
He added
"Even with a more receptive marketplace, successfully remarketing for luxury
and prestige cars calls for a different approach than you would take with
‘bread and butter' fleet or lease cars. The key to remarketing high-value
product is exposure in the appropriate media to reach the right audience of
buyers, combined with a dedicated marketing campaign to get the message
across."
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