Pictured above: Graham Penny
Leading property auctioneers Graham Penny Auctions exceeded all
expectations at their latest auction, which took place at Pride
Park Stadium in Derby.
A record number of 400 people attended the auction, which
comprised of a catalogue of 96 varied lots. More than 50 properties
were sold on the day, achieving total sales of close on £5.5
million.*
This figure is up a massive 46% from the £3,749,000
achieved at the same time last year and reflects both the
increasing popularity of selling by auction and the growing
confidence in both the residential and commercial property
markets.
A highlight from the auction came when a bidding war erupted
over a two-bedroom bungalow in Allestree, which sold for more than
£300,000 - well above the guide price of
£175,000.
2010 was another hugely successful year for Graham Penny
Auctions, which is based on St James Street in Derby and also has a
base in London - as well as selling £32 million worth of
property, the company retained the title of East Midlands
Auctioneer of the Year, topping the Essential Information Group's
(E I Group) league table for the highest sales during 2010 for the
fifth successive year. It was also named as the best performing
auction house outside of London in terms of revenue by the EI
Group.
Commenting on the sale success, Graham Penny said:
"We were delighted with the response to our first auction of the
New Year, which saw a high level of sales and the highest number of
buyers registering to bid ever seen in the company's five year
history."
"As selling by auction continues to become more and more popular
with sellers in terms of its simplicity, transparency and speed, I
hope to continue our tremendous success from the previous year into
2011."
The company currently stages seven auctions a year at Pride Park
Stadium and entries are now being invited for the next sale, which
is taking place on Thursday 7 April. The closing date for this sale
will be 10 March.
Graham Penny Auctions acts for both private individuals and
institutions through its Derby and London offices, selling a wide
range of interests, from vacant houses and investment properties to
building plots and development sites, commercial properties, land
and others.
*Total sales of £5,480,000, includes several post-auction
sales