Auctioning your van can be an enjoyable process, especially watching the bids roll in. However, if your van doesn’t sell, you will still have to pay the auction’s entry fee. Furthermore, many auction buyers work in the motor trade, so their knowledge may mean your vehicle might not fetch your preferred price.
Increasingly, there are more private buyers attending auctions who might be prepared to pay more than a trade professional. Vans that tend to attract attention from private buyers and those in the motor industry are usually popular makes or models, with low mileage and great service history. Vehicles that are difficult for buyers to source can also make a good profit.
If you decide to sell your van at auction, you will need to:
- Prepare the van for auction
- Pay an entry fee
- Set a reserve price
- Take your van to auction
- Take all van keys and documents
If you sell your van, the winning bidder will purchase it immediately and you will need to hand over all keys and documents there and then. Also, the auction company will take a commission from the final sale price. The percentage of commission varies, so check the charged rate beforehand.
There are many auction companies to choose from, as well as local independent ones, so do research into the companies to find the right one for you. For example, some auction houses will inspect and prepare your vehicle to maximise its sale.