Auction House sales up year-on-year

Warren Lewis
10th October 2017

Auction House has announced a rise in year-on-year sales for 2017, despite a more challenging selling environment.

The auctioneer has sold 2,420 lots so far this year, compared to 2,409 at this point in 2016, at a combined total value of over £300m (£300,104,374).

Roger Lake, Auction House Founding Director, said: “In the current climate, even to have matched last year’s number of sales would have been impressive. But to have exceeded it - despite the uncertainties of Brexit, political turmoil and future trading fears - is nothing short of remarkable.

Our activity has certainly quickened since the summer, with more lots offered and sold. Sale by auction has become a solution for more sellers, as other methods fail to deliver the timely results that vendors require. Results are variable across the country, with stronger success rates evident in the northern half and some buyer reluctance noticeable in the south. We see the market coming back into balance, with keener guides and reserves delivering competing bids and healthy hammer prices.”

Roger continued: “We wanted to keep the same content-rich approach but combine it with a dynamic design to create a portal that is a one stop shop for auction-related material. This includes our unique knowledge bank of auction Q&As, which provides instant answers to the many questions that people ask, and sheds light on the auction method of sale.”

Roger also stressed that in the month of October, auctions are the only solution for those wanting to sell empty properties before the weather deteriorates.

He explained: “All too frequently we see properties that have suffered from the damaging effects of wind, rain, flood, snow and ice - and have lost value as a result. Sadly, it is too late to rely on the private treaty route, which has in many cases now become a four or five month process. What’s more, latest figures suggest that nearly a third of private treaty sales are falling through.

By contrast, auction is the quick, easy and certain alternative. We can’t forecast how challenging the winter weather might be, but if you talk to us soon, your property can be entered into our catalogues and exchanged under the hammer in November or December.”

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