First auction under new SDL Graham Penny name raises over £6m

SDL Graham Penny held its first Derby auction under its new name earlier this month nd the changes clearly went down well with bidders as the busy auction room led to over £6m being raised for vendors across Derbyshire.

The auction, on Thursday 9th June at the iPro Stadium, saw over 75 residential, mixed use and land lots offered for sale under the hammer and was the first auction since Graham Penny Auctions changed its name to SDL Graham Penny following its acquisition by the SDL Group.

Andrew Parker, auctioneer and managing director, commented: “The atmosphere in the auction room last week was great and that led to some excellent prices being achieved. There were dozens of bidders who were determined to see the hammer fall on their bid which made our vendor clients very happy knowing they will have money in their bank in around 21 days. And our buyer clients were happy too knowing they’ve stuck to their budget, secured the property they wanted and will soon be able to pick up the keys.”

Formerly known as Graham Penny Auctions, the business was acquired by the SDL Group in early 2016 in a deal which saw the Group’s auction operation double its total sales to more than £160m per annum taking it in to the top four nationwide and becoming the UK’s largest auction network outside of London. In the past 10 years SDL Graham Penny has raised over £460m and sold more than 4,800 lots for clients in Derby, Nottingham and Leicester and in 2015 alone it raised more than £72.6m from 22 auctions across the East Midlands.

Andrew added: “We are now inviting entries for our July auction at the iPro Stadium and I encourage anyone looking to sell their property to get in touch for a free no obligation auction appraisal. We can tell you what sale price you can expect to achieve, the likely timescales and costs involved.”