We are very proud to report today that one of our national auctioneer partners, Auction House in Lancashire has broken all its records with a 52 lot auction achieving £1million over its last record breaking auction in only April this year.

During its recent auction in Preston, 39 out of 46 lots sold, raising a total of £3.67 million. The sale result of 85% compares well with the UK average currently 69%. There was competitive bidding from a packed room of about 300 people in the saleroom at Preston North End Football Club on Thursday 23 June. The auctioneer, Oliver Adams took the bold and unusual decision to raise the guide price by £100,000 on one lot shortly before the auction took place.

He said, “Overall, this auction has broken all our records, helped by some large and particularly attractive lots. A grade II listed Georgian terrace home near the centre of Preston stirred up a lot of interest with a guide price of £200,000 eventually selling for £308,000. But the star of this sale has to be a block of flats in Shevington which started with a guide of £500,000. When I realised there was significant interest I took the decision to raise the guide to £600,000 – a calculated risk which attracted the genuine bidders and paid off when it sold for £650,000. This will prove to be a great buy as the flats are in good condition and currently bring in a rental income between £60,000 to £70,000. Oliver was proud to advise that a portfolio sale of 12 lots were all sold for £80,000 over the clients reserve – he was a very happy client.

Auctioneer Oliver Adams said, “There is no magic involved in such a successful auction. It’s always a case of local knowledge and experience enabling us to give a client good advice which if followed will result in the sale of a property above the guide price, as we seen in so many examples this time around. Well priced properties result in a pressured sale room, leading to people bidding sharply against one another, often paying more than they intended.”

The next Auction House sale in Preston is on 25 August 2011 so if you have a property in Lancashire that you wish to sell at auction, please give us a ring or complete our property enquiry form and we'll get the ball rolling today!