Partner Article

IAM Sold sees record auction sales in February

Newcastle based outsourced auction management provider, IAM Sold, saw approximately £26.6m capital value raised across 254 auction sales throughout the UK in February, 41% higher than January, which saw 180 sales with a capital value of £19.35m.

Of the total sales in February, 62% were via online auctions, and 38% were in the auction room. The trend for increasing owner/occupier numbers continued with 52% purchasing for occupation, while 35% purchased for buy-to-let, and 13% to renovate and re-sell. This compares with 48% owner occupation, 36% buy-to-let and 16% re-sale in January.

Jamie Cooke, Managing Director of IAM Sold, comments: “February was an exceptionally busy month for our auction teams, demonstrating increasing market demand and the widespread appeal of buying property at auction. Almost half (97) of those properties sold went above reserve price, which shows how auction can push the price up due to competitive bidding. The property that achieved the highest above reserve price was Southdown Drive in Leicestershire which achieved £60,000 (46%) above its starting bid at our Midlands auction.”

For further information, please contact IAM Sold on 0845 519 3126 or visit the website: www.iamsold.co.uk

ENDS

About IAM Sold

IAM Sold was founded in 2009 and provides estate agents across the UK and Ireland with outsourced auction management services. The company started out as a provider of outsourced white label auction services with a vision to modernise the auction marketplace and utilise the latest technology and online platforms.

Over the past 12 months, IAM Sold has helped clients to sell more than 2,400 properties, making the company the largest provider of outsourced auction services in the UK. Today, it works with 1,100 estate agent branches, and is host to the largest selection of auction properties in the whole country.

For press information or requests please contact Emma Horton / Clodagh Foley at Foundation PR on emma@foundation-pr.co.uk / Clodagh@foundation-pr.co.uk or call +44 (0) 20 7580 2492.

This was posted in Bdaily's Members' News section by Foundation PR .