Business News

Mon 08 May 2017

A View from the Parsons Son & Basley Rostrum: Auctioneer receives 86 bids on one single property!


Parsons Son & Basley’s April auction produced some truly outstanding results with some of the prices achieved exceeding expectation by, in the words of auctioneer Simon Caplin, “truly astonishing amounts.” Raising just under £1.2m in property values from the nine lots available, a success rate of almost 80 per cent was achieved with some real stars of the show raising the bar.

A garage in Brighton from a revised guide of £14,000-£15,000 sold for £23,000, some £9,000 above the lower end of the guide whilst Bradlaw House in Bognor Regis, a mixed commercial & residential investment from a guide of £300,000-£325,000 sold for £402,000 and received no less than 54 bids with the final selling price some £102,000 above the lower end of the guide!
A former public house in Littlehampton with huge re-development potential sold for comfortably in excess of its reserve. However, it would seem the best was saved for last with the sale of a two-bedroom house in Hollingdean Road, Brighton that was in need of complete modernisation throughout selling for £240,000, some £60,000 more than the lower end of the guide with the amount of bids received from those wanting to buy the property reaching an incredible 86!

Simon Caplin was delighted with the response to all of the properties during the auction, something he puts down to getting the guide price spot on. “To set the guide prices correctly is absolutely crucial to the success of any auction as sensible and competitive guides will generate the amount of interest required in order to attract two or more bidders to lock horns against each other and drive the price up – something that happened across the board at our auction today,” Simon adds.

If you have a property you are thinking of selling and would like a free, no obligation valuation please contact the Parsons Son & Basley auctions
team on 01273 274014