Buyers voted with their chequebooks at Network Auctions May sale!

We enjoyed our most successful ever two day sale in May with total sales in excess of £6.5 million being achieved and a sales rate of 77%.

The two day sale which took place on May 7th in London and May 13th in Birmingham saw good levels of activity from buyers on lots stretching across the length and breadth of the Country and who were clearly positive about the outcome of the General Election and who voted accordingly with some frantic and positive bidding.

Lot Two which was a cottage with development potential, in Normanton in West Yorkshire was an excellent example as to how our national reach and local expertise saw local buyers compete with London investors resulting in the best price being achieved.

This lot saw phone bids, online and proxy bids plus bidders present in the room. The property had a guide price at £59,000 and ended up sold at £116,000. A massive 97% uplift on the reserve price.

The two day sale saw a variety of properties sold including freehold and leasehold residential investments, commercial investments, beech huts, ground rents and life tenancies. Prices sold under the hammer from as little as £1550 (lot 45) to £1.2m (lot 27).

Managing Director Toby Limbrick was delighted with the result and said; “The May sale was an interesting one as the first day coincided with the General Election yet there were few signs of nervousness and buyers were clearly positive about taking purchase decisions. This was reinforced even further a week later in Birmingham by which time the election result was clear.”

Once again, our combination of local expertise and national marketing resulted in some excellent prices being obtained and we are looking forward to our next two day auction which will take place in London on 9th July and Birmingham on the 15th July.

Lots are now being taken for inclusion in the catalogue.