By using this website, you agree to our use of cookies to enhance your experience.
Graham Awards


Auctioneer says the future is online bidding, not in-person

Landlords have long been a backbone of the auction industry but one player in the sector says the future is online bidding, not in-person.

New data from Auction House show the group selling £61.2m of property exclusively through timed online auctions, with £7.1m raised in November alone.

Auction House has expanded from a standalone auction room to a nationwide operation with offices throughout England, Scotland, and Wales.


Alongside regional livestream events, the auctioneers hold weekly national online auctions, with bidding available for only 24 hours. It began experimenting with timed online auctions in 2019 and promptly saw the potential that the new platform held for the market.

Managing director Jeremy Prior says: “If the pandemic has taught us anything, it’s that the future of property auctions is digital. From livestreamed auctions to online bidding, the industry has been dragged into the 21st century and online auctions are here to stay.”

Auction House offered 1,309 properties for sale through national online auctions in 2023 (compared to 577 in 2022), marking a  126 per cent increase from the previous year. It sold 796 properties, surpassing 2022 by 154 per cent.

The firm’s corporate sales manager, Lewis Hamilton, says: “The auction process is more convenient and accessible than ever before. We’re giving people the confidence to bid - you can see how many people you’re competing with, if people are bidding more than once, and it offers complete control for the buyer.

“We refer to it as a traditional auction with a modern platform. National online works on the same principals as any unconditional auction. If you’re the winning bidder the sale is legally binding, and the efficiency of auction means you’ll have the keys in your hands within 28 days.”

He adds: “A big development for 2024 is offering timed conditional auctions on a weekly basis. Bidding will open on a Wednesday at 12 noon and close the following Wednesday at 11am.”

“We are confident that conditional auctions will attract many buyers. The process, which can be completed in 56 days, is still quicker than the private treaty route. 

“With buyers having a longer timeframe to secure mortgages, conditional auctions will open the doors for more people to explore auctions as an option.”

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions.
If any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals, then the post may be deleted and the individual immediately banned from posting in future.
Please help us by reporting comments you consider to be unduly offensive so we can review and take action if necessary. Thank you.

  • Franklin I

    They can say what they want!

    If a property goes to auction and doesn't sell, that property has now been tarnished from a property investors perspective!

    Meaning, that if the same property has been on Zoopla or Rightmove for more than 60 days, has been reduced 3-4 times, gone SSTC on 2 separate occasions etc, then you are going to have challenges in selling that property again, unless you go "off market."


    In the Norwich area we are seeing a lot of over priced properties being withdrawn from auctions I expect due to lack of interest on the run up to the auction, rather than not making reserve on the day, also a lot of properties going to sold subject to contract only to bounce back onto the market a couple of weeks later


Please login to comment

MovePal MovePal MovePal
sign up