Big increases in auction rooms reported

Warren Lewis
20th August 2014

July is traditionally one of the busiest months in the auction calendar, and last month was no exception with over 4,200 lots offered across 194 auctions - a 7.8% gain on July 2013.

According to data from EI Group, the number of lots sold at auction increased by 4.4% to 3.062 lots, generating total revenues of £539.2M. This was yet another substantial gain on last year (15.4%), whilst similar rises are evident in the rolling quarterly and yearly figures.

David Sandeman, managing director of EI Group commented:

"Residential lots offered and sold both increased in July, up by 9.1% and 5.7% respectively, and after several months of double-digit rises the total amount raised shows a more moderate gain this month of 5.1%, to £341.8M.

"Conversely, the commercial market enjoyed a huge leap in revenues - up 38.8% to £197.3M, yet actual sales fell by 0.5% in July to 595 lots."
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