Auctions

Auction House hits 2,000 lots sold milestone in record breaking month

Property Reporter
|
12th August 2021
Auction 822

Property auctioneer, Auction House, has announced that it completed the sale of its 2,000th lot in July – two months ahead of when it hit the same milestone last year – and during a record-breaking month for sales.

According to Auction House, 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.

Colin West, Auction House Cumbria Auctioneer, said: “You don’t find many properties in Grange-Over-Sands in that price bracket. 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%.

Jeremy Prior, Auction House Managing Director, comments: “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 a 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!”

The firm reports that it has been attracting attention from around the world during its livestream auctions.

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.’”

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