Auction House has enjoyed a record start to 2014 with first quarter sales up 12% year-on-year. In total 509 lots were sold from a total of 700 offered, raising an impressive £54 million.
Auction House attributes its Q1 success to a combination of factors. These include the strong demand generated by the recovery of the property market and the growing popularity of regional auction rooms.
In fact Auction House has recently opened four new auction rooms in Staffordshire, Chesterfield, Essex and Liverpool. This brings Auction House’s total number of auction rooms to 36.
Both buyers and sellers are increasingly attracted to property auctions. For buyers there is the prospect of picking up a bargain coupled with the speed and certainty of the transaction.
The speed and certainty of auction is also a factor that appeals to sellers. Alongside this, they understand that competitive bidding can generate better prices and there will be no legal delays or the last minute collapse of deals.
Last week’s highlights included the first auction held by Auction House Liverpool. Although the full results are yet to be published, it is reported that many of the lots offered sold at well above the guide prices.
Meanwhile Auction House Cheshire and North East Wales sold 8 lots at Chester Racecourse raising £773,000.
This was accompanied by the sale of 2 out of 3 lots offered by Auction House Wirral, raising a further £82,000.
In Milton Keynes, Auction House Beds and Bucks sold 88% of the lots offered raising £1,570,000 while, In Grantham, Auction House South Lincs and East Leics raised £213,000 from the sale of 2 lots.
Finally, Auction House London had a very successful week, selling 90% of the lots on offer. This raised a huge £15,961,600.
This week Auction House has three auctions taking pace including its first Chesterfield auction hosted by Auction House Copelands. This takes place on Wednesday 30th April at Chesterfield Football Club. Bidding starts at 7.00pm.
Story: Neil Bird
Photo: Movehut
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