Colliers International is closing its auction department as part of its rebranding exercise, EGi News can reveal.
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Colliers International is closing its auction department as part of its rebranding exercise, EGi News can reveal.
It will hold its last sale at Radisson Blu Portman Hotel on 9 July, ending more than 30 years of sales under the hammer.
Simon Riggall, director and auctioneer, said: “It is all very amicable and we are already in early discussions with a number of companies about being taken over and where we are able to bring added value to existing client base.”
He added: “Our work does not fit the newly re-branded international aspirations. As an auction department we are non-sector specific, but our sales have been dominated by public sector lots over the past six years and have generated more than £920m during that time.”
For more on this story and other auctions news, see Saturday’s EG.
estelle.maxwell@estatesgazette.com
