Auction House London says the Coronavirus pandemic has proved that the power of livestream sales far outweighs the impact of earlier online auctions where bids are submitted eBay-style via the internet.
Auctioneer and director of Auction House London, Andrew Binstock, says: “Since we were forced to move to livestream sales as a result of Covid, our numbers are just going up and up. In our last sale we had 172 properties listed - our highest ever in any auction.
"There are more sellers and buyers flocking to us at each sale and the figures speak for themselves. We’re doing better than ever, and I have no reason to want to turn back the clock - especially when we’re smashing it right now.”
He insists that customer feedback endorses the livestream method and he insists that rival auction firms using the eBay style online bids are struggling. And he adds that the success of the livestream system since the start of the pandemic means auctioneers will only be driven back to an actual physical auction room by a wish from some in the industry to keep a tradition going.
At its most recent livestream sale Auction House London claimed a 90 per cent success rate with sales reaching more than £20m.