IAM Sold says it is the largest independent residential auctioneer in the UK based on lots sold, for the second year in a row.
The outsourced auction management firm - which from this year will be providing an auction service to 200 branches of Fine & Country - saw a total of around £322.6m in sales and 2,937 lots sold in 2017, despite a dip in activities in the fourth quarter of the year.
Jamie Cooke, Managing Director of IAM Sold, comments: “Year on year, the figures have persistently increased. All in all, we ended the year on a high, with an increase in both lots sold (up 18.7 per cent) and total raised (27.4 per cent). Auctions continue to become more mainstream, and offer agents an alternative method of achieving successful sales for their vendors.”
He says that of all lots sold in 2017, almost 1,000 were online – more than any other auction provider in the UK last year and to date.
“An increasing number of vendors are choosing online auction as the accessibility opens the market (once only reserved for the professional investor or cash-ready buyer) up to residential purchasers, creating a larger marketplace that generates more interest and activity” explains Cooke.
“We aim to launch our virtual auctions in the summer of 2018 as another strategy within our offering. We will continue with a blended mix of services including our strong regional network of live auctions, bespoke client centric online auctions and the addition of either weekly or bi-monthly virtual auctions. The flexible range of options we offer to our partners and in turn, their clients, will help to support our growth in the residential auction market.”