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Auction House hits £300m in 2020

The Negotiator

Link to Auction NewsAuction House has made over £300m worth of property sales in the year so far (£300,877,878) – well ahead of any other residential auctioneer.

Cumulative sales for 2020 currently stand at 2300 lots sold from 2913 offered, at a strong success rate of 79 per cent.

Commenting on the figures, Director Roger Lake said, “As can clearly been seen from the figures, the pandemic hasn’t held us back! Indeed, we have functioned very effectively throughout the lockdown, as well as after the easing of restrictions, and now during what is being described as a second surge.

Roger Lake Auction House“Our remote bidding solution has worked seamlessly both for our Livestream and Online sales, and our Covid-secure viewing programmes are operating well.

“Not only are we listing more lots, we are also selling more family homes, with city sales – including across London – seeing a marked upturn. As a result, average sold prices are up by 40% year on year – at £145,500 compared to £103,400 in 2019.”

At £63m, last month’s total value of sales was the highest the group has raised in any September over 12 years of business. During the month, Auction House sold 433 lots from 533 offered, and delivered an impressive success rate of 81.2 per cent.

Roger Lake explained, “Clearly, the auctions market is returning to pre-Covid levels of activity. Remote bidding is now fully accepted as the norm around the country.”

November 23, 2020

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