Used van prices at auction were largely unchanged in May, according to the latest figures from British Car Auctions (BCA).

Source: BCA (www.british-car-auctions.co.uk)

Average age, mileage and price were all nearly identical to May last year, although sale price as a percentage of CAP (book) price rose slightly, suggesting to me that BCA had a good mix of desirable stock through its halls last month.

Common, strangely painted or poor condition models remain hard to shift, as Duncan Ward, BCA’s Head of Commercial Vehicles, explains:

“While average values have stopped their meteoric year-on-year climb as volume has returned to the marketplace, demand has remained steady.  Buyers compete strongly for good condition, later plate vehicles, and any unusual or scarce derivatives will find a ready audience.  Condition is key to success, however, and buyers expect to see a full service history.”

“Poor condition stock, or readily available models in corporate colours need to be sensibly valued to sell first time as the competition is fierce for the buyer’s wallet.”

The changes seen in the used van market can be seen on this graph, which shows clearly that prices peaked in December last year — manic demand for courier vans ahead of Christmas — and have remained fairly flat after January’s fall:

Courtesy of BCA

One interesting quirk of last month’s figures was that part-exchange prices rose sharply. Part-ex vans are the oldest and cheapest vans that go through the auction halls. On average, they’re about 7 years old and have close on 100,000 miles.

The average price for a part-ex van rose by 6.7% to £3,773 in May, up from £3,533 in April, according to BCA. No idea why.