The Auction House network says it has enjoyed spectacular growth in the first quarter of this year, and in terms of lots sold it is now vying with Barnard Marcus and Savills for second place in the national league table.
Between January and March it sold 308 lots – 57% up on the same period last year.
The sales rate for Q1 stands at 81%, compared to a national ‘all auctions’ figure for the same period of 70%. Five sales in the first quarter had 100% success rates, while the brand’s first sale in London had a 90% success rate.
Founding director Roger Lake said: “Auction House is achieving the sort of results that other auctioneers can only dream about.
“When we launched the brand in 2007, as far as some of the biggest companies in the country were concerned we were merely ‘also-rans’. Less than four years later we’re not only nipping at their heels but have overtaken most of them.
“We’ve reached a point where other auctioneers are questioning how we’re doing it. But the answer’s simple: more and more people are realising that properties sell at higher prices when sold closer to home. There is a move of auction lots away from central salerooms and we’re providing precisely the service those vendors are looking for.”
Auction House has expanded by partnering with local estate agents.
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