When you go to a car auction you will be able to buy a Running Order Guide. They usually cost around £3.00 and are available from reception or the cashiers office. They are worth the small investment as they contain useful information that is not often quoted on the auction companies website. Information such as current pricing guides.
The top left corner shows …
- Name of the business or person who is selling the car/s.
- Place of Auction: Often a Physical auction where people attend & Online where only registered trade buyers can bid without attending.
- Lots: How many cars are up for auction from this seller.
The left hand column shows …
- Lot No: The lot number of the auction. Listen out for this to start bidding on this car.
- Vehicle Reg: The vehicle registration of the car. Sometimes a private plate may be on the car. This may be in the sale or it may be removed after so listen carefully.
- Date of Registration: The date when the car was registered in the UK
The main centre column shows …
- A Description of the car for sale:
- Make, Model & Edition of the car. Its specification e.g. leather interior and alloy wheels etc. It may also have information such as the last service date, how many previous registered keepers, MOT expiry date if it has one and whether the V5 (log book) is present. It may also have VOSA information listed like this VOSA 22k, 30k, 45k, this tells you the MOT history (what the mileage was at the cars MOT dates)
The right hand column shows you the CAP & Glasses price guide …
CAP: Car Valuation Price Guide. Widely acknowledged as the benchmark for independent car valuations.
- New: Cost of the car new
- Ret: Current Retail Value
- Cln: What a trader should expect to pay for a car in CLEAN (excellent) condition
- Avg: What a trader should expect to pay for a car in average condition.
- Blw: What a trader should expect to pay for a car in below average condition
Glass: Glass car valuation price guide
- New: What the car cost new according to Glass guide
- Ret: Expected retailer price for the car
- Trd: What a trader should expect to pay for the car
The footer of the guide shows …
- Whether the car is Sold As Seen or if it comes with any warranty.
- It will also show its VAT status. This is usually Margin and means a trader reselling the car will pay VAT on the amount of profit he makes and not the whole sale price of the vehicle. See our guide on Motor Traders VAT for further information.
This is the same guide that the auctioneer will have. Listen carefully to him as he may have further information for you on the vehicle.
Also remember to add on the auction buying fee. This is often quite a considerable amount. Its not usually published on the auctioneers website. It is usually found by the cashiers office.