EIG November 2017 Newsletter - Essential Auction News
Publish Date: 15 November 2017
By Beth Fox
Further reading
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.
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%.
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
Receive the latest Essential Auction News straight to your inbox every month
Sign up here
Essential Information Group - News and Information
Keep up to date with our latest news, case studies and what's going on in the property auction industry on our blog.
Buying at auction
25/03/2026
The Most Important Document in the Legal Pack? The One That’s Missing.
Legal packs are often treated as the definitive source of truth in a property transaction. But in reality, they are anything but complete. While they provide essential information, they are built to meet minimum requirements - not to offer full transparency. And in many cases, it’s not what’s included that creates risk, but what’s missing.
Buying at auction
24/03/2026
Guide Prices: Why Buyers Should Treat Them as a Guide to the Reserve
Guide prices are one of the most misunderstood elements of the auction process. Too often, buyers treat them as an indication of a property’s value, when in reality they are designed to signal something entirely different, the likely reserve. In an increasingly competitive and dynamic auction market, understanding this distinction is critical to making informed decisions and avoiding costly assumptions.
Buying at auction
23/03/2026
There’s So Much More Than the Aroma of Hot Coffee…
There’s so much more to selling a property than creating the perfect first impression. While details like fresh coffee, open windows, and careful staging can help set the scene, today’s buyers are looking for something far more important - clarity, confidence, and certainty. And that doesn’t come from how a property feels, but from how well it’s prepared behind the scenes.