None of us knew what to expect the morning after the Brexit vote and here at Brown&Co many of us wondered what the implications were for our summer auction some 5 days later!
We remained confident of success because of the quality of lots on offer and the interest shows, and we were not disappointed. We sold 16 out of 22 lots on the day, including 2 sold prior and at the time of writing have two lots remaining. The sale was therefore a good marker for the state of the market immediately after Brexit and confirmed in our view that the demand for property throughout the price ranged is still strong. AND we did sell property throughout the price ranges from bottom to top, with garages, terraced houses, amenity land, a cottage and country house all selling well, many above the reserve, The fact that we lag behind other areas of the country in terms of value should ensure that demand continues into the autumn. We can therefore be very positive and pleased that we already have plenty of lots for inclusion in our next auction.
We will be commencing our advertising campaign in August and do invite sellers keen to maximise value to contact us if they would like to know how an auction sale can help unlock value. AND REMEBER, there is a misconception that auction sales can sometimes see a seller lose out to a buyer with a keen eye for a bargain. The reserve price is there for a good reason - to safeguard sellers. If on the auction day bidding fails to reach the reserve, the property is withdrawn, and this is a very important point.
We look forward to continuing to help buyers and sellers alike and if you have any queries about how an auction can help you, please contact either myself or Trevor Blythe.