July sale raises over £16.3 million with 95% success

Despite just one month between sales, Bond Wolfe Auctions achieved another remarkable result in the remote bidding auction held in the Wednesday 29 July sale.

A 95% success rate saw 161 out of 170 lots sold, raising over £16.3 million.

Bond Wolfe Auctions chief executive Gurpreet Bassi said: “Despite there being such a short period between our June and July auctions, we still had a very busy three week marketing period resulting in over 2,500 people registering to bid by internet, telephone and proxy.”

Over 33,044 watched the July sale live which started at an earlier time of 9am and continued for ten hours.

During the run-up to the July Sale, Bond Wolfe Auctions’ staff fielded 35,623 phone calls, the website had 676,059 page views, there were 8,173 inquiries via Rightmove, Zoopla and OnTheMarket, 106,149 people watched the 360° virtual tours, and 72,172 legal documents were downloaded.

Mr Bassi added: “I think it is fair to say that our regular clients and the general public have picked up how to take part in virtual auctions pretty quickly.

“Our in-room auctions have always been livestreamed, and purchasers have always been able to bid remotely via telephone, internet or proxy, and I am sure many will continue to take part in this way, if and when we ever return to the traditional ‘ballroom’ auction.”

Highlights included a 100% success rate for the lots offered on behalf of City of Wolverhampton Council.

The former Small Heath Methodist Church in Yardley Green Road, Birmingham, sold after competitive bidding for £508,000, more than double its guide price* of £250,000+.

Similar success came when the hammer finally fell on 10 Grosvenor Road, Harborne, Birmingham, a three bedroom end terraced house, for £278,500 from a guide price of £150,000+.

A 24 bedroom freehold hotel, Heath Lodge Hotel, close to the NEC and Birmingham International Airport sold prior to the auction for an undisclosed sum which was well in excess of the guide price of £695,000+.

Two properties on the River Severn sold well, with at two bedroom, link detached house, 2 Bevere Lock House in Camp Lane, Grimley, near Worcester, selling before the auction for an undisclosed sum and Lock Keeper’s Cottage, a two bedroom detached property, at Holt Heath, near Worcester, selling for £190,000 from a guide price of £130,000+.

A vacant freehold four bedroom mid-terraced property at 80 Chepstow Road, Newport in Gwent, sold for £176,500 from a guide price of £80,000.

Back in Birmingham, 67 Kenilworth Road in Handsworth, offered with a guide price of £70,000+, was sold for £142,000.

A two bedroom, end terraced house at 45 Deykin Avenue, Birmingham, sold for £115,000 from a guide price of £60,000+.

Gurpreet Bassi said: “Once again our latest auction has surpassed all expectations, and I want to pay tribute to everyone in the team at Bond Wolfe Auctions who pulled together to make this happen.

“We are already experiencing strong levels of interest for our September auction from all over the UK with both our sellers and buyers appreciating the strong marketplace we provide.”

The next Bond Wolfe Auctions sale is at 9am on Wednesday 16 September and once again it will be livestreamed via the website with remote bidding by proxy, telephone or internet only. Bidders must pre-register to bid.

Anyone interested in the auctions or with properties for sale in future auctions should contact [email protected], or call 0121 312 1212.