Auctions

Auction House London post strong Q1 sales figures

Warren Lewis
|
5th April 2019
auction house 5

The latest figures released by Auction House London have shown that buyers are continuing to pack into sales rooms - last week’s auction being no exception.

Auction House London revealed that 77% of lots were sold by the end of the sale raising more than £12m, 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.

Andrew Binstock, Director and Auctioneer at Auction House London, 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.

More than three hundred people requested information about this lot, so we knew this sale would be a battle between buyers.”

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