Auctions are rising in popularity
Auction firm Auction House has recorded its busiest ever March on record. This march saw 476 lots entered to be sold. This trumps their last highest record of 434 in 2020.
Auctioneers have attributed this growth to the new wave of sellers who are being enticed by a huge new wealth of bidders.
Roger Lake, the founding director of auction house has stated that they are ‘phenomenal’ achievements during a pandemic. He states auctions are receiving four figure viewings and there are often well over 100 bids on each property before the hammer falls.
During February of 2021 auction house have sold over 395 lots out of 490 available to be sold. This is a huge success rate of 80.6%.
They have subsequently raised over £59 million so far.
Their average selling price has risen by over 20% year on year from £123,000 to £149,500.