Global interest helps BidX1 raise £4.9m in October sale
BidX1 raised £4.9m at its October sale with a 70% success rate.
The online auctioneer sold 23 of the 33 lots offered through its online auction, which started on 30 October but was held over multiple days to accommodate both buyers and sellers.
Auction highlights included Armley Grange, a Grade II listed nineteenth century mansion in 1.26 acres of land, which was offered for sale on behalf of Leeds City Council. It attracted 207 bids and sold for £595,000, achieving £245,000 above the guide price.
BidX1 raised £4.9m at its October sale with a 70% success rate.
The online auctioneer sold 23 of the 33 lots offered through its online auction, which started on 30 October but was held over multiple days to accommodate both buyers and sellers.
Auction highlights included Armley Grange, a Grade II listed nineteenth century mansion in 1.26 acres of land, which was offered for sale on behalf of Leeds City Council. It attracted 207 bids and sold for £595,000, achieving £245,000 above the guide price.
The lot sold with the highest value was Cannock Cricket & Hockey Club in Staffordshire, a 24.7 acre sports ground, which eventually sold for £1.1m after a previous sale in the BidX1 July sale for £1.45m fell through.
Another standout lot was a former vicarage in Redhill, Surrey. Listed on behalf of the Diocese of Southwark, the four bedroom property which included a large garden plot and outbuildings attracted 156 bids and sold for £562,000, a figure £162,000 above the guide price.
A 1.1 acre plot of land in Maidstone, Kent, with planning consent for 22 homes, had been guided at £1.25m but failed to sell.
Established in Ireland in 2011, BidX1 launched its UK online auctions business last year, after receiving a large cash injection from private equity house Pollen Street Capital.
According to BidX1, in total its October catalogue received 164,000 page views from 66 countries, which translated to 1,270 bids being placed on the platform. But in the first year that it has been trading in the UK, the online platform has not yet been able to match the extensive catalogues of its ballroom based rivals, many of whom frequently offer more than 100 lots per auction.
“The global interest we saw throughout our October sales period highlights how effective the BidX1 marketplace is in facilitating bidders and buyers from across the world,” said Oliver Childs, head of commercial at BidX1.
