Austin Gray’s auction department held another highly successful auction at their Clarendon Villas saleroom on the 8th September and reached a yearly record, selling their 2000th property of 2016.

The last lot of the day certainly raised some gasps of amazement from the packed saleroom when it sold for £1,170,000 against the pre-auction estimate of £700,000 – £750,000.

Auctioneer Nick Muston FRICS said “It was an interesting mixed use investment which was viewed by about 40 people. On the day, some of the biggest and most respected buyers in the City fought it out, with most dropping out at around £800,000, but it carried on with the bids faltering just shy of £1 million. At this point, another hand shot up and a battle ensued until the gavel came down on the final, eye-watering figure.”

This was yet another example of how effective a public auction can be when open competitive bidding ensues. Nick explains “Prior to the auction we were offered well in excess of the top of the guide price, but we recommended to our client to reject this offer and take it to the room. They were absolutely delighted that they took our advice.”

This was the auctioneer’s sixth auction of the year and with two more to come, they are confident of a record-breaking year.

The next auction on the 20th October is shaping up to be their biggest and best of the year so far, with many excellent properties already consigned for sale; you can find them in the Austin Gray auction catalogue. We welcome the opportunity to talk to all prospective buyers and sellers who are considering a property auction. Get in touch today on 01273 232 for more to chat to one of our friendly auction experts.