Auctioneers at Auction House London say the number of bidders taking part has dropped fast over the last four months. 

At its recent sale – late October – the number of bidders was down by 300. 

Auctioneer and director of Auction House London, Andrew Binstock, says: “Although some lots had to be withdrawn at the last minute due to lack of interest the bidders taking part are intent on buying. We had a good volume of lots to start, so there was plenty of action and it resulted in a successful day. Many lots are still selling above the reserve agreed with our sellers.”

He continues: “The number of bidders has been down by hundreds of people from our sales in the summer of 2022, but interest and bidding is fierce for Lots with potential.”

“It’s been a turbulent few weeks for the economy with things changing every day. This must have had an effect on the confidence of buyers and we’re now hoping it will settle down. There will always be properties needing to be sold and buyers in a good position to bid.”