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FALLING interest rates have injected new life into an already booming car auction market, says leading players Park Village Auctions.
Clive Lazarus, PVA's ace car auctioneer, says the lower cost of financing vehicles is now reinforcing an improved business climate in general.
"I'm not suggesting that we are out of the economic woods," he says. "But there are signs that business is getting to grips with the quieter conditions.
"The economic indicators in respect of aspects such as consumer confidence, fixed investment trends, company and personal liquidations and demand for credit are beginning to show the first signs of recovery.
"However, there remains a wariness about debt and a determination to remain as liquid as possible, all of which bodes well for the auction market in general and the car auction market in particular."
It is against that background that Park Village Auctions presents its next car auction on Wednesday at the Bank Asset Disposal Centre, Prolecon Road, Prolecon, Johannesburg South, when about 250 vehicles will come under the hammer.
Lazarus says: "What continues to impress us is the steady demand for auction vehicles of all kinds and in all price ranges. Now, however, as it becomes easier to finance auction vehicles due to lower interest rates we anticipate a further uptick in demand.
"Our assessment also suggests there is unlikely to be any fall-off in the level of demand going forward and, even as the economy recovers, we expect auction vehicles to retain their appeal.
"Moreover, it's interesting to note the appearance of female buyers on the scene in greater numbers, all of which suggests that bidders are becoming more comfortable with the auction process and are happy to make use of it to meet their transport needs."
For information: 011-789-4375/6/7 or www.parkvillageauctions.co.za