Double record smashed by Auction House London
Auction House London auctioneers are celebrating a record-breaking sale this week (Wednesday 8 February 2023) with the highest number of lots ever to be listed and the greatest number to sell in a single day.
The 12 hour long marathon livestream auction saw 178 lots sold, out of 208 offered, raising more than £30m (£30,191,000).
Auctioneer and Director of Auction House London, Andrew Binstock said, "Despite an extremely challenging market there was little let up from bidders with 86% of Lots selling. It was an epic first auction of the year and our success has to be down to an incredible team who worked tirelessly to ensure every buyer and seller received the best possible service."
Andrew Binstock added, "It was a mind-blowing day on so many levels and we smashed two of our own records. Property and land with potential, where sellers are realistic about the guide prices they agree to set, are key. But it's a formula which is clearly working for us when the current climate of the property market is so cool."
Many homes are selling at more than £100,000 above the agreed reserve and guide prices. Highlights included a four-bedroom semi in Horseshoe Lane, Watford, Hertfordshire, which sold for £391,000 from a guide of £250,000 and a three bedroom end of terrace property in Dunkery Road, Eltham, SE9, where the hammer came down at £401,000 from a guide of £250,000. Both came with huge potential to create a fabulous home and needed refurbishing.
At Streatham, south London, on Gibson's Hill, Lot 3, a bungalow on a large parcel of land attracted a different set of buyers looking for development and building potential. The site which doesn't have planning permission in place yet was guided at £250,000 before selling for an astonishing £220,000 above this guide at £470,000.
Andrew Binstock added, "We're already building another big catalogue for our March livestream auction taking place at 9am on Wednesday 15 March 2023. So now is an excellent time to contact our team to assess a possible sale."