Auction success selling via the online hammer
Fri 9 October 2020
Stags is a unique firm of West Country property auctioneers which, for the past 140 years, has been successfully selling millions of pounds worth of property, by auction, throughout the South West region.
Whilst traditional in the room auctions have their place, given the current situation and need to keep everyone safe, an increasingly popular alternative is the Online Timed Auction. Retaining all the advantages of a conventional auction with competitive bidding, the online platform runs 24 hours a day, 7 days a week, providing buyers with flexibility and the benefit of time to organise the funds to purchase a property by auction.
Buyers can bid from anywhere, at any time of the day, and are able to bid within the comfort of their own home in a less pressurised environment.
Our first property got off to a fantastic start back in July. A smallholding with a 3-bedroom bungalow and 42.5 acres in Bodmin, attracting significant interest, with over 57 bids, culminating in a final sale price of £700,000, nearly £200,00 over the guide.
Since then we have successfully sold various parcels of land across the West Country, from 8.76 acres in North Devon selling for £103,000, to 3.01 acres with river frontage in Cornwall for £56,500.
The latest property to go under the online hammer was The Old School House in Bettiscombe, Dorset, managed by Martin Bowen-Ashwin, Manager of Stags Bridport Office. The property offered a unique opportunity to refurbish an attractive former school house. Having been under the same ownership since the 1970s, the property attracted a vast amount of interest with over 81 viewings, the auction saw frantic bidding starting at £300,000 with 8 people battling it out, culminating in a final sale price of £503,000. More than £150,000 over the guide price.
Andrew Luxton, Partner confirms that whilst following the easing of restrictions a return to traditional in the room auctions will return, the on line offering is here to stay and will remain part of the property selling options that Stags can offer its Vendor clients. The ease of placing a property on the market, flexibility of auction dates and times coupled with the advantages to buyers will ensure the continued growth of this method of sale. The success of the Old School House is testament to the advantages this method of sale has for both vendors and purchasers
There are a number of auctions which are currently live and underway, to include an equestrian yard with stabling, arena and 7 acres in Ivybridge, to a 17th Century Grade II* Listed Devon Hall for repair and restoration following a major fire near Meeth.
To see the full listing of our current live auctions, click here.