As some estate agents worry about dwindling sales, the UK’s best property auction rooms are shifting the bricks as buyers and sellers show growing confidence and satisfaction in the auction room.
Pattinson Auction achieved significant success at their latest live auction event on Wednesday 28th August 2019 due, they say, to the dedicated team of auction experts whose specialist knowledge helped achieve £10 million pounds worth of property being sold on behalf of their vendors.
Pattinson says its track record dispels any misconceptions that may linger regarding selling by property auction. For some sellers, their initial reaction to auction is – “that’s only for desperate people” or “that’s only for run-down properties”.
The company says times have changed and that auctions offer a secure method of selling a property, providing a platform for exposure whilst retaining control of the process – and with a whole host of properties on offer ranging from just £4,000 to £970,000, demonstrating that there’s something for everyone.
“Online property auctions have become increasingly popular all over the UK by customers seeking the security and speed that selling by Auction provides, however, we have found that there’s still a place for the physical auction event as evidenced by the conversion of 87% of the 116 lots that were offered, resulting in buyers and vendors leaving the Auction room celebrating,” says Auction Director Justin Beckwith (left).
“Buyers who couldn’t attend could submit bids on the phone to our auction experts, generating a stimulating atmosphere to help vendors achieve the best price possible for their properties. Even better news is that with fall-through rates of less than 1%, we anticipate this upward trajectory to grow as we continue to expand.”