Buy at auction with Parsons Son & Basley
After a successful start to 2014, Parsons Son & Basley prepares for its next auction, with a video introduction as a guide
Parsons Son and Basley’s first auction of 2014 comprised 15 commercial and residential lots throughout east and west Sussex and was held on 27th February at Hove Town Hall. It was a resounding success with 90 per cent of the lots sold producing over £2m worth of sales for their clients. The auction team of Richard Payne (auctioneer), Georgina Tunbridge (auction assistant) and Kelly Landers (auction administrator) reported record attendance levels and over 50 registered bidders on the day. There was frenetic bidding throughout the afternoon with many bidders unable to compete as prices ran away from the very start.
The majority of the lots sold for between 10-15 per cent over the guide prices. The company is RICS compliant and to avoid any misrepresentation, the reserve price for the properties are always between the guides.
“The auction market has been steadily gaining momentum since 2009”
Notable lots on the day were a two bedroom maisonette on Prestonville Road, Brighton, that was guided at £120-125,000 and sold on the day for £177,000 and a two bedroom semi-detached bungalow in Patcham which sold for £251,000 off a guide of £190-200,000. Two lock up garages in the sought-after Clifton Hill area of Brighton sold for £52,000 and 53,000 each which emphasises the significant demand for parking in the centre of the city.
“The auction market has been steadily gaining momentum since 2009 and the February results show the confidence in the market has returned and the demand for keenly priced stock has never been greater,” observes auctioneer Richard Payne. “The public are waking up to the idea that auction sales are an excellent place to achieve top prices for properties that may not suit the normal sales method and the results speak for themselves.”
Parsons Son and Basley hold six property auctions a year and act for many local authorities as well as solicitors, banks and insolvency practitioners. Their next auction is on Thursday 17th April at Hove Town Hall, and they already have several lots confirmed. They offer a free, no-obligation appraisal of your property for sale by auction and in some cases the prices they have achieved have exceeded the prices quoted by estate agents for private treaty sales. If you are new to the auction market or are considering a sale by auction there is a video on their website www.psandb.co.uk/auctions which explains the process and hopefully answers many of the questions that may arise.
Parsons Son and Basley LLP,
01273 274010
www.psandb.co.uk
