Improvements to our valuations in Glass's

Great news! We are improving our valuations in Glass's.



What’s changing?

We are making further improvements to our valuation methodology to provide you with precise AI-powered market insights, combined with market observations and the expertise of our local valuation experts and analysts. 

In future, we will be replacing average mileage calculations with exact mileage calculations and basing valuations on current market conditions. This means that all corrections are reflected directly in the Glass’s values, which will provide one trade and one retail valuation. The fixed “average mileage level” and mileage correction factors will be discontinued. Additionally, condition grading and alternative valuation methods will be withdrawn, as they are already reflected in the dynamic market values provided by Glass’s and Autovista Group. 

Key changes

1. Exact Mileage Calculations:

 

We’re moving from average mileage calculations to exact mileage, ensuring valuations are directly tied to a vehicle’s actual usage, providing more precise results.

Observed mileage can be viewed in Live Retail.

2. End of Mileage Corrections:

 

Mileage correction factors will be withdrawn, as mileage will now be fully integrated into the core valuation.

3. Phasing Out Condition Grading and Alternative Valuations:

 

We’ll no longer use condition grading or alternative valuation methods, as our advanced AI-driven market insights already account for these factors in one dynamic valuation for trade and retail.


FAQs

There will be 2 types of values in the product: Trade and Retail. Any condition related value modification can be managed by the user.
The Grade Low means: The typical value for cars that would benefit from a significant amount of cosmetic and bodyshop attention but also require a single major repair, in line with the lower auction grade. A major repair would be described as the replacement of a large part of a car’s bodywork (e.g. bumper, door, etc).
Future: if a vehicle is in bad condition, then the basic values (trade and retail) are suggested to be modified by a value reduction factor. The amount of the factor is defined by the user.

There will be 2 types of values in the product: Trade and Retail. Any condition related value modification is suggested to be managed individually by the user.
The Grade Average means: The typical value for cars that would benefit from a significant amount of cosmetic work and bodyshop attention in line with the mid grade. All these repairs, whilst more prevalent, are still isolated to a few areas of the bodywork.
Future: In case of newer cars (0-7 year old) the Grade Average values are higher than the basic values (trade and retail) so a value increasing factor is suggested to apply. In case of old cars (above 7 year old) the Grade Average values are lower than the basic values (trade and retail) so a value reduction factor is suggested to apply. The amount of the factor needs to be defined by the user both cases.

There will be 2 types of values in the product: Trade and Retail. Any condition related value modification is suggested to be managed individually by the user.
The Grade High means: The typical value for cars that would benefit from slight cosmetic work in line with the higher auction grades. Cosmetic work is described as the replacement of small removable parts (e.g. wiper blade, badge, number plate etc) and the SMART (small, medium area, repair techniques) repair of bodywork and trim. Cosmetic attention also relates to the replacement of larger removable parts (door moulding) and panel repairs of a localised nature requiring some wet repair and refinish.
Future: if a vehicle is in good condition, then the basic values (trade and retail) are suggested to be modified by a value increasing factor. The amount of the factor needs to defined by the user.

There will be 2 types of values in the product: Trade and Retail. Any condition related value modification is suggested to be managed individually by the user.
The Disposal Value means: Reflects a trade sale for a van or chassis in an unprepared condition primarily coming from a fleet source. These vehicles will typically require a significant amount of cosmetic work to bring them up to retail condition, yet must still be presented to a standard that reasonably meets the requirements of roadworthiness. For hard used vehicles where the condition falls well below this standard, an adjustment will have to be applied to the Guide Disposal value.
Future: if an LCV is in bad condition, then the basic values (trade and retail) are suggested to be modified by a value reduction factor. The amount of the factor needs to defined by the user.

The Retail Transacted values will be available in the future.

We continue to gather trade values from the market and also gather retail values. Through a process of statistical analysis we are also able to generate trade observations.
This significantly increases the volume of observations our valuation team have to work with. It will help the dealers/traders to determine the quality level of the auction prices.

Retail valuations will be based on Retail Asking. Calculated by our Statistical Analytical Engine using average discounts of dealer advertised prices and dealer transacted prices. It reflects average condition level by age and mileage.

The mileage corrections are taken into account directly in the Glass’s Trade and Retail values.
Instead of fixed values for mileage corrections, the correction will in future be carried out directly on the basis of the market observations.
This means that there will no longer be a fixed “standard mileage” and that this will therefore no longer be displayed.

There will no longer be a fixed “standard mileage” and that this will therefore no longer be displayed. Market reliable average milage is suggested to obtain a quick guide valuation.