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Sales News: Network Auctions
Network Auctions move to the Grosvenor House for 2015 and launch online auction service
A fter two years using the Cumberland Hotel at Marble Arch as their national auction room, leading UK auction house Network Auctions are moving their 2015 London auctions to the Grosvenor House, located on the prestigious Park Lane overlooking Hyde Park.
Network Auctions, who also run five auctions a year in Birmingham in partnership with Pennycuick Collins, will hold six auctions from their new larger auction room.
The move to the Grosvenor House is testament to the success of the Network Auctions offering, and will provide their fifty partner agent offices and clients with even greater exposure.
Network Auctions enjoyed a superb year at the rostrum in 2014, with sales of 281 lots raising £24.75m, going under auctioneer Guy Charrison’s gavel at their six London auctions.
Toby Limbrick, Director of Network Auctions said; “Our move to the Grosvenor House provides the opportunity to showcase our auction sales to an even wider audience and clients will benefit from the increased exposure. The local knowledge and expertise provided by our partner agents, together with our national exposure and auction experience, is already a winning combination, and this move demonstrates our commitment to the growing auction market.
“Auctions are a superb method of sale as they provide transparency, certainty and speed, and buyers can now bid in person, by phone, proxy or over the internet.
“Our partner network has grown in 2014 – and we are still actively recruiting partner agents across the UK to share in the auction success story.”
The first auction at the Grosvenor House will take place on Tuesday 3 March with other auctions planned for Thursday 7 May, Thursday 2 July, Thursday 10 September, Wednesday 21 October and Thursday 10 December 2015.
The Network Auctions team
Further details can be found at www.networkauctions.co.uk
Exciting new online auction service
Network Auctions have announced an exciting new online auction service that will be used by their fifty plus partner agents across the UK.
Network E-Auctions provides a modern method of auction that is ideal for any committed seller and buyer to trade through. Properties are listed for sale on the basis of a normal auction catalogue with an online closing date and time (similar to Ebay). Upon the fall of the “electronic gavel”, a binding option agreement is formed which sees the buyer pay a non-refundable deposit. The buyer then has five weeks to exchange contracts. Failure to exchange contracts in that timeframe will see the buyer forfeit their deposit. Should the seller withdraw prior to contract, the buyer’s deposit is returned.
Network Auctions Managing Director Toby Limbrick is highly enthusiastic about the new service, and said; “Our research shows that this modern method of auction will be attractive to many sellers who wouldn’t normally enter their properties in an auction where a contract is formed as soon as the hammer falls. We expect many private individuals to now list their properties with our Partner Agents, in order to take advantage of this service.
“Our Network E-Auctions online auction service will also enable lots that fail to sell on our normal auction days to immediately be offered online, with a view to agreeing sales following the auction.”
Network Auctions currently hold eleven auctions a year (six from their central London auction room and five in Birmingham, working in conjunction with Pennycuick Collins, which take place at Birmingham City football ground.
There is no limit to the number of online auctions that will take place, and an electronic catalogue showing forthcoming lots will be accessed via the Network Auctions website where buyers will be able to register and bid.
Auctioneer and Network Auctions Director Guy Charrison added; “We introduced internet bidding at our auctions some time ago, and have been watching the development of electronic auctions for some time. We now feel the time is right to launch our new service and expect to grow our network of over fifty Partner Agents and the volume of properties sold via our auctions significantly, as a result.”
Richard Worrall, Auctioneer
For further information or to enquire as to how to include a property in an online auction, or join Network Auctions as a Partner Agent, please contact Toby Limbrick on 0207 871 0420 or via the website: www.networkauctions.co.uk