BidX1’s final UK sale of 2019 set to raise £6.4m from 41 lots
BidX1’s final UK sale of the year will feature 41 lots with guide prices ranging between £200 and £900,000 plus.
The online auctioneer this week published the catalogue for its online auction starting on 10 December which will include property with a combined guide price value of more than £6.4m.
The lot with the highest value is a freehold development site in Purley, in the London Borough of Croydon, with planning consent to build seven apartments which has been guided at £900,000 plus.
BidX1’s final UK sale of the year will feature 41 lots with guide prices ranging between £200 and £900,000 plus.
The online auctioneer this week published the catalogue for its online auction starting on 10 December which will include property with a combined guide price value of more than £6.4m.
The lot with the highest value is a freehold development site in Purley, in the London Borough of Croydon, with planning consent to build seven apartments which has been guided at £900,000 plus.
The lot with the second-highest value is a semi-detached house in East Dulwich, SE22, which the auction house says offers development potential (subject to planning consent) and is guided at £575,000.
The lowest-value lot is a 660 sq ft freehold former advertising site in Skipton, North Yorkshire, guided at £200.
Established in Ireland in 2011, BidX1 launched its UK online auctions business last year as part of a global expansion.
After receiving as much as £15m from private equity house Pollen Street Capital, the company aggressively recruited senior auctioneers from rival firms.
However, earlier this month three senior UK auctions staff left BidX1. The company confirmed that head of residential auctions Richard Watson and auctioneers Michael Atwood and Rob Hills had departed “to pursue other opportunities”.
In the eight UK sales the company has held so far, sales receipts have varied significantly, with the firm selling between £16m and £4.5m worth of property.
The company’s second Spanish property auction is due to take place on 18 December after the online platform launched sales in Cyprus and Spain in October while further expansion is planned for 2020, in Greece, Portugal and Italy.
“The success of the Spanish and Cypriot launch further proved that the platform can manage the sophistication of varying regulations, languages and cultures involved with international expansion,” said BidX1 founder and chief executive Stephen McCarthy.
