Sales for Auction House London hold strong for the first quarter of 2019

Buyers are continuing to pack into Auction House London sales, with last month’s auction being no exception (on Tues 26 March 2019).

77% of lots were sold by the end of the sale raising more than £12m (£12,401,500), with more deals expected to be completed by the end of this week (Friday 5 April 2019). Some of the bidding was intense, including bids for the sale of a two bedroom ground floor flat in Uxbridge, Middlesex. The hammer came down at £215,000, more than £100,000 from its starting guide price of £110,000. The property in Grangewood Court, Hillingdon Heath has a shared garden and needs renovation.

Another highlight was a luxury apartment in Tapestry Building, New Street, London, a matter of minutes walk from the City, and the shops, bars and restaurants around Liverpool Street, plus a matter of minutes from the markets of Spitalfields and Petticoat Lane. The two bedroom, two bathroom third floor apartment is in a Grade II listed 18th century building which started life as a converted warehouse for the East India Trading Company.

Director and Auctioneer at Auction House London, Andrew Binstock said, “This was a great sale and indicates that our auctions are for every type of property and every level of buyer.  The key issue for both buyers and sellers is that the deal gets done there and then rather than facing the haggling which might come ahead of any sale through private treaty.”

Sales of small parcels of land are also proving strong. In one case, a piece of land in Goffs Oak, Waltham Cross, measuring half an acre and with no planning permission in place, sold for £90,000, from a starting guide price of £10,000.

Andrew Binstock added, “More than three hundred people requested information about this lot, so we knew this sale would be a battle between buyers.” The next sale for Auction House London will take place on Thursday 9 May 2019 at the London Marriott Regents Park, 128 King Henry’s Road, NW3 3ST at 12 noon.