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Achieving high property sale prices at auction with Phillip Arnold Auctions

13/01/2021

Achieving high property sale prices at auction with Phillip Arnold Auctions If you're looking to sell property the convenient way, without necessarily sacrificing the likelihood of making a good profit, selling at auction is the modern-day approach. As property auction specialists, here at Phillip Arnold Auctions, we are seeing consistent growth in activity with purchase prices soaring and achieving in many cases high above the guide price even during the Covid-19 pandemic. This makes auctions an appealing prospect for enterprising estate agents who are acting on behalf of vendors who are looking to sell quickly to capitalise on the stamp duty holiday that is currently in place until the end of March 2021.

Selling property in difficult times

Covid-19 has changed the way so many industries operate, and of course, the real estate industry is no different. The benefit of an auction, however, is that by its very nature it's perfectly appropriate for use during times of lockdown and social distancing. With online-only auctions, customers don't even need to leave their homes in order to make a property purchase. They can still have access to all the documents and data they need in order to make an informed purchase, without the need to actually meet. You are still able to view properties and of course thanks to modern day technology with clear digital photography and in some cases video walk-throughs are taking the place of physical showings to an increasing degree. This makes auctions a compelling place to list a property.

It's easier than ever to auction a property

If you've been thinking about selling property at auction and achieving high sale prices but you're concerned it's too difficult, time-consuming, or complicated, think again. The process is actually easier than ever. Auctions provide a truly kinetic buying and selling experience, and at Phillip Arnold Auctions, we've streamlined the process as much as possible to remove complication. That means it's easier than ever to list and sell properties at auction. Auctions also have the benefit of, in many cases, yielding higher sale prices than would be achievable through private sales, especially for a probate property, short lease, ground rents or potential development land. Live bidding and the short time period an auction lot is live for can help prospective purchasers be a little more generous with their budgets than normal.

Using restrictions to your advantage

Covid-19 has placed many restrictions on the "normal" ways we do business, but property auctions are thriving as they allow people to continue buying the property of their dreams completely online. If you're an estate agent looking to get the best possible prices for your properties, consider listing them for sale via a Phillip Arnold Auctions online property auction. During 2020 and following the COVID-19 pandemic outbreak, we quickly adapted to online only auctions and we more than anyone have been pleasantly surprised by the positive response from investors and purchasers in adapting to the modern way of selling and buying property at auction. So much so, in some cases lots were achieving way in advance of the allotted guide price. As one example we saw Lot 5 in our October auction guided at £275,000 achieve a staggering £384,000 at auction. If you are considering selling property at auction, please get in touch with our office on 020 8799 3880 or contact us here.