Midlands-based auctioneer Bond Wolfe Auctions has smashed the record for the most number of lots ever sold in a Midlands auction.
Bond Wolfe Auctions’ December sale was held last week Wednesday and saw the firm sell 151 lots from the 159 offered, making for a 95% success rate – the highest sale rate for a Midlands auction for 15 years.
Highlighting the success of the auction, Gurpreet Bassi, chief executive of Bond Wolfe Auctions, said: “This was truly a national auction, held in Birmingham, with lots across the UK selling well.
“A packed auction room with over 2,000 through the doors during the day, saw not only our regular Midland lots selling well, but also properties across the north of England and in Wales drawing buyers from far and wide.
“We also had large numbers of buyers online and on the telephone, which all added up to a highly competitive atmosphere.”
From the December auction, Bond Wolfe Auctions raised over £15.2 million with several key lots proving fundamental to the success of the auction.
The first lot to sell was the former Old Hill police station, which sold for £250,000.
The next lot to sell was a vacant freehold property in Selly Oak Birmingham. Despite a low guide price of just £5,000, the property eventually sold for £107,000 after attracting fierce bidding competition.
However, the lot that garnered the highest price was a spacious freehold retail unit/showroom at 121 Church Lane, Stechford, which garnered a sale price of £290,000.
Managing director Ian Tudor said: “Once again we saw strong interest in commercial lots and we hope that more certainty in the property market after the election will lead to many more business properties becoming available at our auctions in 2020.”
Bond Wolfe Auctions has announced six auctions for 2020, with the first of the year being held at Villa Park on Thursday 27th February.
Featured Image: Gurpreet Bassi and Ian Tudor