A view from the rostrum: Lots of Lots for the Auction
Parsons Son & Basley have launched the catalogue for their next auction on Wednesday 6 December, their final auction of 2017, an event they anticipate will culminate in their department having its most successful year ever – and bearing in mind they have been auctioning property across Sussex since 1825 then this indeed will be quite an achievement!
Auctioneer Simon Caplin says: “What has become apparent to me and pleases me no end is the far wider and differing audiences we are attracting to our auction rooms now on a very regular basis, many of whom I describe as ‘first time auction buyers’ who are looking to buy an investment property for the first time due to the fact they have perhaps come into some money and have quite rightly decided that to acquire a return on their savings is far more preferable than allowing funds to sit idly in their bank accounts earning next to no interest. At the end of one of our recent auctions a gentleman who purchased a house in multiple occupation in Bognor Regis for just under £300,000 best summed this up when he explained he had purchased because he had inherited an amount of money and wanted to ‘buy himself an income’, which he certainly did. And at the rate of a 10 per cent return, whilst at the same time have the benefit of future capital growth.
To acquire a return on their savings is far more preferable
“Maybe it is due to the fact that as a team we fully understand that buying at auction for the first time can be a little bit daunting and because of this we will take the time to explain the process to our buyers and guide them every step of the way. So much so that no less than 21 of our auction day sales this year have been to first time investors which to date equates to over 4 per auction and has been a huge catalyst for the success we have enjoyed. Our clients of course have been the main benefactors with not only their properties having been sold but at some very exacting prices indeed.”
If you have any questions about any of the properties then please do not hesitate to contact the Parsons Son & Basley auctions teams on 01273 274010 / 01273 274014 or visit www.psandb.co.uk/latest-auction.