We have a new moorer on our site. Temporarily their brand new craft is moored on a short term one month permit while they take part in the latest mooring berth auction. CaRT know that they need a local mooring and have all their details.
The latest Vacancy issued, Vacancy 4229, is as large as they come on the South Oxford and has a Reserve to match of £1607. This works out at £73.05 per metre. The level of this surprised me so I have done a little research.
When I bid for my mooring in August 2010 the Reserve was £59.61 per metre. Hence there has been an increase in what the site says "The Reserve Price reflects British Waterways' cost of providing the vacancy. It is the price below which it would not be economic for us to let the vacancy" of 22.5%. Inflation over the same period was 5.2% per year according to the Bank of England so the reserve has increased by double the rate of inflation.
I have written to CaRT to ask them to examine the basis of the Reserve. I think it is to maximise revenue as they know that there is a demand for the mooring at this time. Historically there hasn't been. A third of the Vacancies auctioned on this site since Jan 2010 have resulted in no-one bidding for them.
We will see how we get on.
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