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WHERE DO AUCTION LOTS COME FROM?

I see that I have been writing auction articles for about 15 years now and I only hope that I don’t repeat myself, but here at Brown & Co we are very keen on the auction process and so it is a great pleasure to be able to write about why we think this method of sale is a satisfactory one.

 

As I write, we are busy preparing for our autumn sale with about a month before we close the books.  We commence advertising in mid-August in readiness for our sale on 26th September 2019 at the Assembly House in Norwich.

 

Our auctions in the spring and summer of this year have been very successful and our June sale saw a near 88% success rate, including those sold immediately after the auction, with which we were very pleased.  The Assembly House was packed for the summer sale with buyers and sellers and we only hope that we can emulate this success in the autumn.

 

We continue to look at our service and improve it, with good presentation, website representation and accompanied viewings and feel sure that this method of sale will continue to capture the public’s imagination going forward.

 

The process is very transparent and provides an immediate result at the fall of the hammer which suits many people.

 

Of course an auction will not suit all properties and there is some way to go until it becomes a more widespread method of selling houses and land throughout the price ranges – in Victoria, Australia for example, my brother tells me that over 80% of transactions are carried out by auction and so it will be interesting to see what happens over here in the future.

 

With offices in Norwich, Holt, King’s Lynn and Bury St Edmunds in this part of the country we are confident that we provide a good geographical spread to be able to cover the whole region and continue to expand this area of our operation.  Further afield in Huntingdon, St Neots and Melton Mowbray we are expanding the service there and, along with the online approach that Martin Cunningham is building, we are certainly kept busy.

 

We are always analysing results and recent work indicates that a broad cross section of property is now being sold by auction.  This includes property in need of renovation, whether in the city or county, amenity land, building land, garages and commercial and residential investments as well. All sell well, subject to objectives being clear, and realistic guides are important to create the competition.

 

The beauty of the auction process is that, subject to a careful marketing campaign and presentation, the market will dictate on the day what something is worth, which is the important thing.

 

We have some 15 lots for the September sale already and it looks as though it will include a wide variety of property, which is encouraging.

 

The coming weeks will see us inspect other properties and we will continue to help people with their requirements and hope to be able to bring an interesting variety of lots to our sale at the end of September.

 

For those people interested in knowing more about the auction process, do please contact us – we are happy to inspect property without obligation and to provide advice.