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JULY 2022
     

Auction prices set to soar on caravans and trailers

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UNUSED caravans and camper trailers are expected to sell for more than retail price when they come up for auction.

Following the recent trend with other vehicles, RVs are just the latest asset that has succumbed to strong demand with no supply.

"Demand for recreational assets is sky high at the moment due to the rippling effects of Covid and businesses not having enough stock on hand," Lloyds Auctions' chief operations officer Lee Hames said.

"We have seen this trend occur at auction recently in brand new model cars, some even selling more than retail such as a 2022 Chevrolet Corvette selling for $255,000 when they normally retail for $160,000 ... and now, we are seeing this trend with caravans and camper trailers too.

"Not only have we seen it on the used vehicle market but also heavy machinery where wait times become longer and longer, usually a minimum of 12 months and some up to 2 years or more."

Supply chain shortages on heavy machinery and transport equipment have driven demand as businesses struggle to get back to work unable to get their hands on assets to complete projects and ultimately keep Australians in work.

The trend is hindering global vehicle and equipment production and it’s expected to persist through 2022 and into early 2023 until supply can catch up with demand.

Lloyds Auctions are seeing a rise for demand throughout all their major auctions including passenger vehicles, heavy equipment, transport vehicles, campervans and trailers alongside boating and marine assets which is driving up prices across the board.

"Over recent months we have seen a massive demand from our bidders who are constantly and actively looking at our website for items on offer because they are available now, they don't have to wait," Mr Hames said.

Lloyds will hold an Unreserved Caravans and Camper trailers Auction on July 18 consisting of new prototypes, unused display stock and minor warranty returns of MDC stock.

Prototypes on offer include 2022 model off-road caravans and camper trailers, the majority of them being the latest models.

"The caravan market has been strong for quite some time since Covid. Aussies have now decided to travel in their own backyard," Mr Hames said.

"This is the opportunity for the community to skip the queue on wait times for late model 2022 caravans and purchase them brand new at Lloyds Auctions."

Click here to view the entire auction.

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