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Online auctions prove their worth during lockdown for SDL with £7.7m sale

Auction firm reports a “marathon team effort – 115 Lots in 7 hours” held behind closed doors, entirely online and offered nationally.

Sheila Manchester

online auctions

The SDL Auctions team pulled together in a marathon team effort for the company’s first national property auction, which raised £7.7 million for sellers.

Held behind closed doors to maintain social distancing, Managing Director and auctioneer Andrew Parker worked his way through a catalogue of 115 lots over a mammoth seven-hour session.

The auction got off to a lively start with some eager bidding for a house in Nottingham. An extended property in one of Beeston’s most popular locations, it requires full refurbishment but has the potential to become a desirable family home. It sold for £235,000 from a guide of £135,000+.

Parker said: “This was a fantastic way to start our first national property auction. Bidding was fast and furious, producing a great result for our seller. This came as no surprise as it’s an excellent property with a huge amount of potential, whether for a private buyer or landlord investor.”

Team effort

Working from the company’s auction studio were Andrew and his wife, Rachael – Regional Property Manager for the East Midlands, assisted by his son, Elliott, both managing internet bids. The wider SDL Auctions team was working remotely, taking telephone bids and conveying them to the property auctions studio via Microsoft Teams.

“It was a huge team effort, I couldn’t be more proud of every single staff member who pulled together to make our first national property auction a huge success. It was a marathon session with more than 100 lots, which just confirmed our belief that we are providing a valuable service to sellers at this difficult time. Not everyone is in a position to wait until the crisis passes and lockdown restrictions are eased, so we are proud to be here for those sellers and to keep the auctions industry moving”

A level of certainty

Among the stand-out lots of the day was a bungalow in Staffordshire, which attracted enthusiastic bidding before selling for £130,000 from a guide price of £50,000+.

Another spacious two bedroomed detached bungalow in need of updating and renovation. It stands in a generous plot. Competition was so fierce that Andrew quipped: “If anyone else has a bungalow in Milehouse Lane (pictured), you should get in touch because we have several buyers waiting.”

Andrew added: “We are hugely grateful to all of our buyers and sellers who put their trust in us to handle their property transactions at this difficult time. We are proud to offer the speed and certainty of an auction sale, with a fall-through rate of less than 2% and completion typically taking place in 20 working days. It’s reassuring to have this level of certainty in uncertain times.”

www.sdlauctions.co.uk

Read more about online auctions.

 

May 5, 2020

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