Network Auctions report best success rate in past seven months at their November sale   

With attendance noticeably up, high interest and strong bidding in the room, a 72% success rate was achieved at their recent Hatfield House sale - compared with the UK national average of 65%.

“It was our best result since March,” said Network Auctions Director, Toby Limbrick. “We obtained a flying start with our first lot and this set the scene for what was to come – with over £ 2 milion sales achieved.”

The lot in question was a vacant freehold garage/workshop on a 30ft x 9ft plot in Ilford, Essex that was guided at £ 2,000 – 3,000 and sold for an exceptional £ 19,000 (from Network Auctions member, Tudor Estates) after highly competitive bidding.

There is no doubt that there was a very positive feel about the room with general interest in most of the lots on offer.

 

“ Buyers are always keen to pick up cheap lots at auction, but where they saw value and a potential good return on their investment they were keen to bid,” continued Toby Limbrick.

Network Auctions continuing successful growth is founded on the key principal of offering an exceptional local service to sellers through their nationwide member network – and then centrally marketing the complete portfolio of properties on a national scale at their auctions.

This certainly works to the seller’s advantage and was exemplified by the sale of a freehold detached bungalow in Chalfont St. Peter, Buckinghamshire that went under the hammer at £ 272,000– an impressive 9% above the guide price of £ 250,000. It was a probate sale – the proceeds of which were to go to three charities – from local Network Auctions member Roberts Newby.

Executors, solicitors B.P. Collins, were delighted with the outcome as Trust Administrator, Cristine Benn explained:

“We asked Roberts Newby, our local estate agent to advise us with regards to the sale of the property and they recommended going to auction. They quoted us a fixed fee so we were aware of the costs at the outset, with no hidden charges – which included marketing the property and arranging all of the viewings, so there was minimal inconvenience to ourselves.

 

 Network Auctions achieved a sale on the day at a price over the reserve, which maximised the capital being passed to the beneficiaries. The net proceeds of sale will be divided between Action for Charity, the British Red Cross Society and the Royal National Institute for the Blind, who are all grateful for Roberts Newby and Network Auctions’ efficiency and professionalism.”

 The range of lots was also important to the success of the sale with the most interesting highlight being The Old Police Station, Royston, Herts. built in 1883 – selling for £ 350,00 prior to the sale against a guide price of £ 325,000. And from the sublime to an ex-public toilet block in Bletchley – now converted into offices – which sold for £75,000 against a guide of £ 65,000.

 Bungalows, houses, cottages, apartments, redundant pubs, retail units with first-floor accommodation, industrial units, land with and without planning permission, garages and life conversion investments on retirement property completed the varied mix of lots on offer.

This entry was posted on Friday, November 19th, 2010 at 2:09 am and is filed under Auction Results, News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.