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Stags is pleased to report on the growing and continuing success of their online property auctions, with 2021 being a record year with some notable results.
Whilst Covid has accelerated the use of online auctions to sell property, it is, without question, proving to be a popular platform for both vendors and purchasers and is here to stay.
With over 70 lots sold in the last 12 months, the online auction platform received over 1,400 bids; an average of 21 bids per lot. It is a successful method which creates high interest and active bidding on a broad range of property, such as country cottages, farmhouses, land, investment properties and woodland. The highlight last year was Wolversleigh Farm in East Devon selling for £1,550,000.
Andrew Luxton MRICS FARLA confirms that we have been delighted with how the online auction platform has grown over the last 18 months and confirms it will form a major part of our property auction services, although we will still hold in-room auctions when required.
With the online platform retaining all the advantages of a conventional auction, including competitive bidding, it benefits from running 24/7, providing flexibility for buyers and sellers. Properties can be easily listed, with no need to wait to join a collective auction, and buyers are able to bid from less-pressurised environments such as from the comfort of their own home. Of course, as is common with all auctions, certainty to both parties is assured with a legally binding contract occurring at the end.
With six properties already sold this year, one currently live and several due to go live soon, the prospects are looking good for another successful auction year.
For further information and advice please contact any one of our offices.