News & Update

Virtual property auction raises millions of pounds for sellers over seven-hour session

The auction had a catalogue of 115 lots that took seven hours to get through.

The first was for an extended bay-fronted property in Beeston, Nottingham, that sold for £235,000 — £100,000 over the guide price.

Another standout lot was a bungalow in Staffordshire that sold for £130,000, almost trebling the guide price.

Land also proved popular with a 0.2-acre plot in Nottinghamshire selling for £160,000, from a guide price of £75,000-plus.

Andrew Parker, managing director and auctioneer (pictured on screen, above), said: “It was a marathon session with more than 100 lots, which just confirmed our belief that we are providing a valuable service to sellers at this difficult time.
“Not everyone is in a position to wait until the crisis passes and lockdown restrictions are eased, so we are proud to be here for those sellers and to keep the auction industry moving.”
Rachel Parker, regional property manager for the East Midlands, was working from the company’s auction studio managing internet bids with Elliot Parker.
Other SDL team members were taking telephone bids remotely and conveying them to the auction studio via Microsoft Teams.

Andrew added: “We are hugely grateful to all of our buyers and sellers who put their trust in us to handle their property transactions at this difficult time.
“We are proud to offer the speed and certainty of an auction sale, with a fall-through rate of less than 2% and completion typically taking place in 20 working days.”
Entries are now being taken for the national property auction on Thursday 28th May and will be held behind closed doors and streamed live over the internet.

This article was extracted from Bridging & Commercial