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Crowd control at London auction
publication date: Jun 2, 2010
Staff at Andrews and Robertson had to work to control the crowds after attendance at its Grand Connaught Room auction rocketed.
Sales totalled over £12m after 60 out of 93 properties sold at the sale with success rates peaking at 65 per cent. Post sales pushed the total revenues up to almost £13m and 70 per cent.
Robin Cripp, auctioneer, said buyer thirst for vacant flats and houses as well as tenanted residential properties was “extremely keen”. “We had to manage how many bidders were in the room at any one time and filter them in when the lots they were chasing were looming. It was an exceptionally busy room. We are seeing that well priced property, particularly in London and the South-East of England is being actively chased by bidders.”
One big winner was Lot 34, a substantial corner building in London SE23. The opening bid was £330,000 but after a lot of enthusiastic bidding it sold for £527,500. Other particluar successes were cottages in Ramsgate and Newmarket.
Cripp added: “We have a number of offers in hand for some of the unsold lots and are confident of seeing our total rising to more than £13 million and the success rate in excess of 70 per cent.”