EIG October 2017 Newsletter - Essential Auction News
Publish Date: 17 October 2017
By Beth Fox
Further reading
Welcome to the October newsletter:
Looking back at auction activity in September and preceding periods
I am pleased to report on a strong set of auction results, with 3,793 lots offered across 162 auctions (up 4% on September 16). The gavel fell on 2,857 lots, up almost 9% on last year, whilst total revenues exceeded £451M - up over 15% and the largest amount recorded in September since 2007.
Overall Statistics September 2017
Auctions Held in the UK 162
Total Lots Offered 3,793
Total Lots Sold 2,857
Percent Sold 75.3%
Total Realised £451,008,361
National Auction Analysis
The residential auction sector witnessed a bumper month, with lots offered up 6.7% to 3,371 lots and lots sold up 11% to 2,546 lots - the largest volume of September sales recorded since 2012. This helped push residential revenues up and over £403M; a £61M gain on last year and figures which are indicative of a competitive market with bidders seemingly not unnerved by talk of impending interest rate rises.
A word from the editor: 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.