Industry News

EIG November 2017 Newsletter - Essential Auction News

Publish Date: 15 November 2017

By Beth Fox


EIG November 2017 Newsletter - Essential Auction News

Further reading

EIG October 2017 Newsletter - Essential Auction News   

EIG December 2017 Newsletter - Essential Auction News

Welcome to the November newsletter:

Looking back at auction activity in October and preceding periods 

Whilst the figures below are dominated by large double-digit rises - notably the 14% and 16% increases in lots offered and sold respectively and 30% rise in total revenues - it should be noted that several major residential auctioneers held their Autumn auction in October this year compared to November last year.

This has certainly attributed to the inflated numbers seen below, but that caveat aside our analysis still indicates a positive month with many auctioneers enjoying bumper auctions - more on this in the National Auction Analysis below.

Overall Statistics October 2017

Auctions Held in the UK   127
Total Lots Offered             3,642 
Total Lots Sold                   2,721
Percent Sold                       74.7%
Total Realised                    £577,945,396

National Auction Analysis

As mentioned above, last month's figures are somewhat skewed because of the auction dates chosen by several major residential auctioneers. If we discount these auctions, and those held by 6 major auctioneers which held an auction in October last year and their corresponding auction in November this year, we can see that the overall amount raised climbed from £410M in October 2016 to £479M in October 2017 - a rise of 17%.

It is certainly encouraging and dispels any talk about there being a downcast market. With a busy winter schedule ahead one hopes that this trend continues!  

A word from the editor:  

I am proud to annouce the Essential Information Group recently won the Silver award for "Supplier of the Year: Technology" at this year's Negotiator Awards. We are honoured to receive the award, especially given the quality and number of other entrants, and I am delighted for the whole team who work tirelessly to deliver essential services to the auction industry.

As ever I would welcome any comments or feedback you may have regarding the newsletter or indeed the wider market in general.

Kind regards,

David Sandeman 


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