Pearsons Auctions has just gone past the heady milestone of 3,000 lots sold in the year, within the Auction House UK network.
The individual property named as the 3,000th auction lot was 27 Kent Road, St Denys, Southampton, Hampshire, which was sold at our auction on Tuesday 8th December, the first auction with our new auctioneer, Steve Sprake wielding the gavel. The property, a two bed semi-detached house, was guided at £130,000 – 150,000, with the hammer eventually coming down at £150,000, following enthusiastic bidding in the room.
Auction House – recently named ‘Residential Auction House of the Year’ by The Negotiator magazine – had earlier reported cumulative sales of 2,885 lots through to the end of November at a success rate of 76.5%, and raising over £375 million pounds (£376,938,000).
Commenting on another productive month, Steve Sprake, Pearsons Auctioneer said: “Healthy sales in November have helped us to a position that is up over 8% on last year. At a time when EIG is reporting a downturn in total auction sales, the Auction House performance is a stand out result which is some 15% ahead of the sector. Yet again, our 40 regional auction rooms are punching well above their weight.”
Steve Sprake added: “Auction House is predicting a very busy first quarter for 2016, with greater numbers of sellers wanting to dispose of surplus stock and some of their tenanted investments before the 3% stamp duty surcharge hits home. The balance of the year will be typified by much reduced motivation following the stamp duty hike, and a gradual recovery thereafter.
“Supply, demand and prices will all be affected by new government policies and the auction sector will have to rapidly adjust to the new circumstances and the changed attitudes that they will generate. We are certainly in for another challenging year – but the benefits of speed, certainty and transparency that auctions offer will be the reasons for our continuing appeal.”