Phone bidding goes off the scale!

Bidders turned out in force for Auction House London’s recent sale with one Lot attracting a record 18 potential buyers, all on the phone at the same time. The 3 bed terrace in Preston, Lancashire needed some modernisation, so it launched with a guide of £30,000… and sold for £75,000. Auctioneer Andrew Binstock said, “At one point 18 people were bidding on the phone and as we had only 13 handsets we had to borrow phones from sponsors and advertisers – it was a fabulous scene and a great atmosphere.” Some properties up for auction were flying off the books with fierce competition from buyers. Location clearly plays a big part and this three bedroom detached house with a loft space in Beckenham, started with a guide of £750,000 and sold for £860,000; £110,000 over its guide price. Andrew Binstock added, “It was a busy room but bidding was laboured at times and there seemed to be an air of caution, no doubt due to all of the political chaos simmering in the background.”