Auctions create momentum!

first_imgNetwork Auctions reports that in 2018 they raised £37m and achieved a 78 per cent success rate. Network-E raised £5.3m up a remarkable 212 per cent on 2017 when sales totalled £1.7m, evidencing the trend to online. This success was reinforced by the 92 per cent success rate, with an average of eight bids per lot and a 7 per cent uplift against guide price. Results held up well amid political uncertainty and market turmoil that suppressed demand from buyers on the open market.Highlights included: Friary House was a wonderful success story for charitable trustees where repeated sales had fallen through on the open market. Guided at £200k, the property sold for £282k. “We were hoping to achieve £250,000 for the property, but the auction seems to create its own momentum,” said Steven Wheeler, Property Trustee.Mill House, an unusual opportunity, comprising a house and commercial buildings, with the stipulation that one day per year access to the site had to be provided to a National Trust windmill located at the rear. Sold for £1.25m.The Great Western, a vacant pub adjacent to Basingstoke Station car park with potential for development. Guided at £550k and with plenty of pre-auction interest and offers prior, NA advised the client to stick to the room where it sold for £631k.Mill House Network Auctions Network-E auction lots auctioneers Friary House February 25, 2019The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Auctions news » Auctions create momentum! previous nextAuctions newsAuctions create momentum!The Negotiator25th February 20190212 Viewslast_img read more