Pearsons Auctions work with Auction House UK has extended its lead as the UK’s number one auctioneer by selling a record 3,260 lots in 2015 – over 1,000 more (1,031) than their nearest rival.
In a year of contrasting fortunes in the auctions sector, the award winning auctioneer – which has a branch in Pearsons, West End – was one of only a few of the big players to show a marked increase in sales, with a 6.6% rise year on year, and ending 2015 having raised £430m.
Commenting on a record 12 months, Steve Sprake, Pearsons Auctioneer said: “This is a standout performance, demonstrating clear market leadership and a genuine preference for selling auction lots through regional auction rooms, which are more accessible to local buyers. Local auctions are also helping to attract more sellers to our method of sale, and the number of buyers that we draw into our salerooms is growing too.
“What’s more, our records show that better prices are being delivered – sometimes exceeding those of estate agents in the area, who have tried but failed to sell the same properties only a matter of weeks previously.”
The number of lots sold by Auction House last year was an impressive 46% ahead of its biggest competitor. In particular, its growth in commercial and mixed use properties has advanced significantly, with 772 lots sold last year, up from 605 the year before.
Steve Sprake added: “2016 is getting off to a buoyant start as well. Sellers with surplus stock – including many landlords – are in a hurry to sell their assets prior to the 3% Stamp Duty Surcharge coming into effect on 1 April. This desire to sell speedily is complimented by a similar rush by investors to purchase before the surcharge is triggered.
“Auction rooms will likely be at their busiest during the month of February. There is only a short window of opportunity before the additional tax burden is upon us, so I confidently expect sales to be especially strong.”