27 November, 2025
Leeson Valuer’s Jock Wigan and John Leeson attended the AVAA Symposium for 2025. Well done to the AVAA CEO Troy Williams and the board for organizing this, with valuers and auctioneers from each of the states involved.
With a focus on future planning, and emerging issues in the sector, the day was well attended with insightful presentations - including on art, new and creative arts including Pokémon collections, electric vehicles, and the risks and opportunities provided by Artificial Intelligence (AI).
The presentation on Electric Vehicles Valuation Risk and Realities also generated plenty of interest – with battery life front and centre. Some key points on EVs –
- reliability of the batteries - provide 150,000km/6 years or more.
- fuel cost less than $1.00/100km (if charged at home) compared to approx. $20.00/100km for a medium size Internal Combustible Engine (ICE) vehicle.
- service free motoring.
- range anxiety to dissipate over time for those of us driving main routes as the EV market share continues to grow. There is a good network of charging locations already.
- expert opinion was that the used electric car market would mature with wider realization that battery life is significant in these vehicles. While battery replacement cost can be ballpark $18,000 for a replacement battery system from the manufacturer, after market solutions can be closer to $10,000 - $12,000.
- the electric vehicle market has not had time to mature, and hence the used market can lack stability. The next few years will give the market a good guide as to the longevity and value remaining in older electric cars. This could add to stability in the market - particularly if battery life exceeds market expectations. The focus could then turn to the useable life and running cost for the rest of the vehicle.
- lower cost EVs do not necessarily have lesser battery life expectations.
- secondhand value of EVs is enhanced when seller/dealer/auctioneer provide a certificate of quality/condition for the vehicle battery.
