Results from the January, March and May auctions show that Graham Penny Auctions’ sale prices are reaching on average 21 per cent above their guide prices – with some lots selling for twice as much – thanks to high volumes of pre-auction viewings, busy auction rooms as well as internet, proxy and telephone bidding. So far in 2014, Graham Penny Auctions Leicester has secured an average 75 per cent success rate and achieved £4.83m for its clients.
Carl Finch, Graham Penny Auctions Leicester branch manager, commented: “Our vendors have been extremely happy with the sale prices we’ve been achieving so far this year – as have we. Many of the properties we have sold have received far more interest than the vendors were anticipating through auction and have subsequently claimed high sale prices from the increased attention.
“These prices, coupled with the fact that we have a 75 per cent average success rate with our properties, shows exactly why the auction room is a great place to sell residential property. Selling by auction ensures the best price is achieved in the current market at any time – it really is live evidence of the open market and at the moment that looks very strong.”
Auctions can be a great place to sell all kinds of properties from modern family homes to smaller terraced properties, including those in a state of disrepair. Graham Penny Auctions is offering free valuations and appraisals for anyone interested in selling by auction, plus there is a step by step guide to buying and selling at auction available on the website.
With 21 auctions per year at the iPro Stadium in Derby, Nottingham Racecourse and the King Power Stadium in Leicester Graham Penny Auctions dominates the region’s house and property auction market in terms of lots offered, lots sold and revenue raised and continues to stay well ahead of its rivals across the East Midlands.
Carl added: “The attraction of buying a property at auction is that it’s a straightforward, transparent and quick process. On the fall of the hammer, the sale is secure, contracts are exchanged and the sale is completed within a month. Then the new owner can start reaping the benefits of the addition to their property portfolio.”
