Auction House has reported a highly successful third quarter, with sales raising more than 42.4m from 427 lots sold out of 541 lots offered – representing a success rate of 79%, compared to the national average of 71%.
Auction House has altogether raised a total of £123m from 1,300 lots in the nine months since the start of the year.
Founding director Roger Lake said: “Despite one of the bleakest economic summers the UK has ever experienced, these are our most impressive figures yet.
“What’s more, sales for the brand show no sign of slowing down with a predicted 415 lots being entered into auctions for October and November and another 200 lots in December.”
He said: “This year, around 10% of Auction House lots have been repossessions, including receiverships. This shows a rise from last year and represents a growing realisation that repossessed properties sell for more money when offered regionally. Auction House has never failed to sell a repossession and the prices we achieve are regularly above expectations.”
He added: “Our philosophy of selling property on a regional basis is continuing to bear fruit. Time and time again, we’re proving that the prices we can achieve when property is sold locally consistently outperform those reached in big city auctions.
“We confidently predict that we will exceed our target of selling 1,750 lots this calendar year.”
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