G3 Remarketing has declared January a ‘record month’ after online attendance rose 24% year-on-year and bidders increased 36% in the same period.
Actual bids placed increased 46%, which G3 said was down to its new interactive auctioneer-led bidding platform, and as a result of the increased number of bidders and bids, the average time ‘under the hammer’ increased by 7 seconds to 43 seconds per lot.
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Overall, January’s auctions had a conversion rate of 87%, with car supermarkets making 38% of all purchases, and a total CAP clean of 101.3%.
Matt Dale, director of G3 Remarketing noted that "These stats show that buyers are becoming more confident in buying stock from online auctions and see the benefits of the online platform, over a bricks and mortar auction. "
