Sales at Auction House London raise over £17m

Applause flooded the room of Auction House London as the first lot of the day sold at almost £100,000 above the guide price.

With more than 500 attendees, the auction took place on October 31 2017 at the London Marriot Hotel in Regents Park with 90 lots on offer, raising a total of £17,219,000.

Bidding was buoyant, with many properties selling well above their guide price. A three-bedroom terrace property in Edmonton started at £250,000 and eventually sold for £344,000.

Andrew Binstock, director and auctioneer, said the sale was exciting, with ‘fierce’ bidding from start to finish. “It was a highly charged atmosphere and everyone clapped as the hammer came down – with one person even videoing the sale to capture the drama,” he said.

A parcel of almost six acres of land located in Clacton-on-Sea, Essex – with planning permission in place to build properties – was sold for £2.9 million with a guide price of £2.75 million.

Meanwhile, a five-bedroom house in need of renovation located in Mill Hill, sold for £1.66 million with a guide price of £1.65 million.

Binstock continued: “We seem to have gone over our sales blip in the summer where this time, a packed auction room of people intent on buying, delivered the results we wanted.”

“We had a good range of property, both residential and commercial, with an appetite for buying, to match.”

Auction House London’s next sale will commence on December 13 2017 at the same location.