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Properties pour in for new year auction

By John Corser | Business Picks | Published:

Scores of new properties are pouring in for Bond Wolfe Auctions’ first auction of 2020 following a record-breaking success in its first 12 months of trading.

Gurpreet Bassi and Ian Tudor

Since launching in January 2019, the company has sold an impressive 654 lots out of 751 lots offered in six auctions, an average success rate of 87 per cent that has raised more than £81.4 million in sales.

This included an impressive 95 per cent success rate in the most recent auction on December 11 when 151 lots were sold from the 159 offered – the highest sales rate for a Midlands auction for 15 years.

Bond Wolfe Auctions' next auction at Villa Park, Birmingham, is on Thursday, February 27.

Gurpreet Bassi, chief executive of Bond Wolfe Auctions, which has offices in Birmingham, West Bromwich and Wolverhampton, said: "We now hold the record for the most property lots ever sold in a Midlands auction, have recorded the highest sales rate since 2004 and are established as the region’s top auctioneer by some distance.

"Not only are we selling more than any other auctioneer in Birmingham, but we’re also constantly increasing the volumes of properties from across the wider West Midlands, the East Midlands, the north west and north east regions, and from as far afield as Wales and Scotland.

"We have raised more in sales than our nearest two competitors combined, a performance boosted by being appointed as exclusive property auctioneers for both Birmingham City Council and West Midlands Police.”

Mr Bassi said the company had originally considered opening auction events in other regions of the UK, but that the appeal of the Birmingham-based auctions at Aston Villa FC had proved so strong that it had shelved any plans for new venues in the immediate future.

He added: "We realised that a central UK location at the heart of the motorway network and with good rail connections to the north and south is perfect for most bidders, with many more joining us online and by telephone."

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Ian Tudor, managing director at Bond Wolfe Auctions, agreed that the central location has proven a winning formula for the Midlands-wide auction house.

He said: "Our auction dates at Villa Park have quickly built up a fantastic reputation for residential lots, with commercial lots also becoming increasingly popular as the year progressed.

"With more political stability following the general election result, I think we will see the floodgates open as many businesses and landowners seek to maximise asset values in order to fund expansion plans.

"The auction route provides both certainty and helps with cashflow planning, an essential ingredient of any growing business."

Bond Wolfe Auctions’ other five auctions for 2020, all to be held from 10.30am at Aston Villa FC, are on May 6, July 16, September 10, October 22 and December 10.

John Corser

By John Corser
Business Reporter - @JohnCorser_Star

Express & Star Business Editor at head office, Wolverhampton. Welcomes all news of companies and business organisations.

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