Traders warned of getting caught in the web
publication date: Oct 15, 2009
|
author/source: Robin Roberts
Despite the obvious ease and convenience of using online auctions to purchase used commercial vehicles, traders are being warned by Glass’s of the potential pitfalls of remotely buying stock.
More and more buyers are opting to stay at home and purchase an increasing proportion of their commercial vehicle stock over the internet. However, even with the availability of fully detailed vehicle descriptions and with rostrum bids being revealed almost instantaneously, not physically being at the sale does present potential problems.
George Alexander, Editor of Glass’s Guide to Commercial Vehicle Values, explains: “Mistakes can be made if a vehicle has not been assessed accurately or completely. Potentially, this could be the Achilles heel for online bidding, as recently demonstrated by one lot that sold online for good money, yet had damage to the lower nearside that was not visible on the buyer’s screen.”
Alexander offers a couple of tips to avoid falling foul of any auctioneer oversights: “Probably the best way forward is to have a contact or colleague present at any auction to give the heads-up on anything that might influence a purchase decision. Failing that, dealers might choose to visit an auction site prior to a sale to cast an eye over the lots that will be of interest.”
Alexander believes that, used with caution, online technology can bring a great deal of flexibility to any business. Yet despite the influence that this innovation has had on one of the oldest forms of barter, he maintains that auction halls will still be populated with a wide mix of buyers for many years to come. “In reality, all active buyers need to keep their hand in by visiting auctions on a regular basis to stay abreast of price trends and the gossip,” he concludes.