Auction House sell 2,000th lot two months ahead of last year
The UK’s largest property auctioneer Auction House has announced the sale of its 2,000th lot in July – two months ahead of the time the same milestone was reached last year – and in a month when the group raised more money than at any time in its 14-year history.
The 2,000th property in question was sold in Cumbria on 15th July and was a one-bedroom flat in Grange-Over-Sands, which had been guided at £45,000 but sold for more than twice that figure, at £97,000. “You don’t find many properties in Grange-Over-Sands in that price bracket,” said Auction House Cumbria Auctioneer Colin West, “so despite the fact it needed a full refurbishment, buyers were very keen to snap it up.”
July also saw the group’s highest-ever monthly total raised - more than £75m (£75,075,900), after selling 418 lots from 490 offered, a success rate of 85%.
Auction House Managing Director Jeremy Prior said: “The Auction House success story just keeps getting better. Not only are we selling more properties more quickly, but we are making more money for our sellers than ever before.
“Results like this don’t just happen by accident. They are testament to our teams throughout the country, who have recognised the power of livestream auctions to attract active bidders and investors.
“We offer our sellers the opportunity to sell either online or via livestream auction. Both methods have soared in popularity over the past 18 months. But nothing beats the impact of a live auctioneer leading buyers through the lots - so even before Coronavirus restrictions were fully lifted last month, we knew that livestream sales were a powerful force in the industry and here to stay!”
Auction House is attracting attention from around the world during its livestream auctions – and some favourable feedback too. Auction House East Anglia Auctioneer Bryan Baxter recalls: “At our last auction, we had a buyer in New Zealand who was bidding for a former gardener’s lodge within 3 acres of walled Victorian kitchen gardens in Norfolk. Although they weren’t the winning bidder in the end, they contacted us after the sale, saying: ‘Your system was amazing. We could see and hear and watch on the instructions what the figure was and if the bid was with us. It was really tight at the end; so exciting to keep pressing the bid button and so wrenching to have to take my hand off the mouse and not know if I had pressed it one more time the dream could have been ours.
‘A big pat on the back to all of you for all your help, assistance, friendliness, and professionalism; we would not even have been a part of this event if you had not guided us through it.’”
So far this year, Auction House has sold 2,101 lots from 2,537 offered, a success rate of 82.8%, and has raised more than £350m (£351,202,928) – the groups best-ever seven-month cumulative total.