Digital auctioneers BidX1 welcomed their first UK auction of the year by selling a record £15.4 million worth of property and achieving a stand out 80% success rate from 50 lots sold.
The highest price achieved under the virtual hammer was for a site in Surrey with planning permission for a part-new build, part-conversion to provide 8 units. The lot, which received 40 bids, had a starting price of £1.2 million and sold for £1.4 million.
A former Warburtons Bakery Site in West Yorkshire also attracted high levels of interest with 160 bids placed. The property sold for £562,000, 33% in excess of the guide price.
Of the 64 lots that made up the catalogue, 28 (44%) were located in London, showcasing a continued appetite in the capital amongst both vendors and buyers.
Antony Schober, Chief Operating Officer at BidX1 UK, commented: “The ease of the digital auction model means bidders around the world are able to take part. We had one successful bidder purchase a lot on his mobile phone whilst he was skiing in the Alps. This shows how accessible and easy to use BidX1’s digital auction model is.
“Although we are operating in a tough market, the appeal of digital auctions is proving compelling to buyers and sellers seeking transparency, speed and efficiency whilst receiving professional property expertise throughout the sales process.”
Overall, the auction had 990 bids placed on the properties in the catalogue.
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