The recently released 2011 National Auction statistics, published by the Essential Information Group, reveal yet another substantial increase (9.6%) in the number of Lot’s sold by auction against the 2010 figures.
Almost £3.5 billion pounds worth of property was sold by auction last year, a quite staggering figure, which was also up 2.2% on 2010 in a year when the value of many types of property, such as vacant commercial, fell in real terms.
On reflection these figures are perhaps not so surprising when one considers the advantages of selling by auction and the increasing awareness of many property professionals and indeed the wider public, that auction should not just be considered as the method of last resort. Indeed for the right type of property, selling by auction could and should always be the first option; ensuring best price is achieved, within a speedy and defined timescale.
A well run regional auction sale has the ability to reach a wide audience, with the further advantages of competitive bidding and a contract on the fall of the gavel.
If you have a property that you think has auction potential, be sure to consult a local or regional auctioneer before marketing and not as an afterthought if you cannot sell.
The initial advice is almost always free to access and you may just be very pleasantly surprised by the result you achieve.
Robert Marchant MNAVA, Clive Emson Auctioneers andÂ PPA Committee Member