Online auctions prove to be hot property for Pattinson

Added by Love Business East Midlands | 8 September 2017

UPDATED: 12 September 2017

A company that holds property auctions in the Midlands is selling its houses so fast that it had to cancel the last live auction because it had already sold all of the lots.

Pattinson Auction was due to hold it Midlands and Yorkshire auction at Nottingham Racecourse in July but the auction was cancelled because all 28 properties had been sold beforehand, for a total of £4,180,570.

The company, a national auction house which specialises in online auctions, is bucking the trend as nationally the property market has slowed.

Deborah Adams, midlands auction manager at Pattinson Auction, said: “With Pattinson Auction, buyers don’t have to turn up on the day to make a purchase. If we made people wait until auction day they might buy something else.

“Our auctions are very flexible, transparent and people can bid without attending the event. They just need to watch on the website and bid, wherever they are, it’s easy.”

This is the first time that the company has cancelled one of its auctions because all of the properties had been sold

Jason Lee MNAEA, national sales manager for Pattinson Auction, said: “Online auctions are very responsive to modern day living. Less than one per cent of sales fall through in auctions.”

Figures from the Essential Information Group show that Pattinson has seen 16.9 per cent growth over six months and business has increased by £3.2 million.

Jason said: “There is only one other auction companies in the country that have increased business. Business is booming for online auctions. It is the way forward.”

The next Midlands and Yorkshire auction is due to be held September 28 at Nottingham Race Course.

More information can be found at www.pattinson.co.uk 

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