Essential Auction News
Welcome to our August newsletter that looks back at auction activity in July and preceding periods. This is the fifth newsletter we have published since lockdown, and as you will be very aware virtually every industry in the UK has been adversely affected. The auction industry has in the short space of time reacted positively to the changes, and as we saw in last month’s newsletter (covering June) the level of activity was very similar to June 2019. The same can be said of July's auction activity in that overall we saw the percent sold increase by almost 13%, and the amount raised drop by just 6.5%.
You will note that the number of lots offered fell by 21%, but this is mainly due to the fact that with auctions conducted over the Internet, as virtually every single one is now doing, in most cases a prospective purchaser has to indicate to the auctioneer which lot they are intending to bid on, and should the auctioneer find when the auction opens there is no one registered to bid on a particular lot, it may be withdrawn prior from the auction. This is the main reason the number of lots offered has fallen and one of the reasons that the percent sold has gone up.
Looking at residential and commercial separately, the total raised in the residential sector was up 7.5% with the % sold increasing to 82% (see note above). In the commercial sector a shortage of suitable lots lead to a fall in lots offered and amount raised, but the % sold rose from 76.1% to 79.9%, indicating there is a real market for well-priced lots.
As always August has been a quiet month but we are seeing some bumper catalogues coming through for September sales which we will report on in October. I would welcome any comments you might have.
Please note the newsletter can also be viewed online. |
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Overall Statistics July 2020 |
| Auctions Held in the UK |
71 |
| Total Lots Offered |
2,602 |
| Total Lots Sold |
2,125 |
| Percent Sold |
81.7% |
| Total Realised |
£416,488,811 |
|
|
National Auction Analysis
OverallN.B. Figures in brackets denote the comparative period last year
|
July 2020 |
May 2020 to July 2020 |
August 2019 to July 2020 |
| Lots Offered |
2,602 (3,306) |
▼ 21.3% |
5,290 (8,239) |
▼ 35.8% |
24,279 (29,903) |
▼ 18.8% |
| Lots Sold |
2,125 (2,396) |
▼ 11.3% |
4,293 (6,055) |
▼ 29.1% |
18,485 (22,085) |
▼ 16.3% |
| Percent Sold |
81.7% (72.5%) |
▲ 12.7% |
81.2% (73.5%) |
▲ 10.5% |
76.1% (73.9%) |
▲ 3.0% |
| Total Raised |
£416.5M (£445.5M) |
▼ 6.5% |
£820.9M (£1,062.2M) |
▼ 22.7% |
£3,072.4M (£3,756.6M) |
▼ 18.2% |
ResidentialN.B. Figures in brackets denote the comparative period last year
|
July 2020 |
May 2020 to July 2020 |
August 2019 to July 2020 |
| Lots Offered |
2,239 (2,699) |
▼ 17.0% |
4,590 (6,865) |
▼ 33.1% |
20,803 (25,398) |
▼ 18.1% |
| Lots Sold |
1,835 (1,934) |
▼ 5.1% |
3,734 (5,045) |
▼ 26.0% |
15,878 (18,714) |
▼ 15.2% |
| Percent Sold |
82.0% (71.7%) |
▲ 14.4% |
81.4% (73.5%) |
▲ 10.7% |
76.3% (73.7%) |
▲ 3.5% |
| Total Raised |
£312.0M (£290.3M) |
▲ 7.5% |
£615.6M (£742.3M) |
▼ 17.1% |
£2,326.7M (£2,708.7M) |
▼ 14.1% |
CommercialN.B. Figures in brackets denote the comparative period last year
|
July 2020 |
May 2020 to July 2020 |
August 2019 to July 2020 |
| Lots Offered |
363 (607) |
▼ 40.2% |
700 (1,374) |
▼ 49.1% |
3,476 (4,505) |
▼ 22.8% |
| Lots Sold |
290 (462) |
▼ 37.2% |
559 (1,010) |
▼ 44.7% |
2,607 (3,371) |
▼ 22.7% |
| Percent Sold |
79.9% (76.1%) |
▲ 5.0% |
79.9% (73.5%) |
▲ 8.7% |
75.0% (74.8%) |
▲ 0.3% |
| Total Raised |
£104.5M (£155.2M) |
▼ 32.6% |
£205.2M (£319.9M) |
▼ 35.8% |
£745.7M (£1,047.9M) |
▼ 28.8% |
Regional Auction Analysis
As is usually the case, variations across all the measurable parameters can be seen across the regions.
N.B. Figures in brackets denote the comparative period last year
 East Anglia
(Includes Cambridgeshire, Norfolk, Suffolk)
| May 2020 to July 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
207 (382) |
▼ 45.8% |
166 (273) |
▼ 39.2% |
41 (109) |
▼ 62.4% |
| Lots Sold |
170 (268) |
▼ 36.6% |
133 (179) |
▼ 25.7% |
37 (89) |
▼ 58.4% |
| Percent Sold |
82.1% (70.2%) |
▲ 17.0% |
80.1% (65.6%) |
▲ 22.1% |
90.2% (81.7%) |
▲ 10.4% |
| Total Raised |
£32.4M (£40.8M) |
▼ 20.5% |
£21.6M (£29.3M) |
▼ 26.2% |
£10.8M (£11.6M) |
▼ 6.2% |
 East Midlands
(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)
| May 2020 to July 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
373 (572) |
▼ 34.8% |
323 (475) |
▼ 32.0% |
50 (97) |
▼ 48.5% |
| Lots Sold |
306 (437) |
▼ 30.0% |
270 (370) |
▼ 27.0% |
36 (67) |
▼ 46.3% |
| Percent Sold |
82.0% (76.4%) |
▲ 7.3% |
83.6% (77.9%) |
▲ 7.3% |
72.0% (69.1%) |
▲ 4.2% |
| Total Raised |
£47.6M (£65.7M) |
▼ 27.5% |
£35.0M (£48.3M) |
▼ 27.7% |
£12.6M (£17.4M) |
▼ 27.2% |
 London
| May 2020 to July 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
527 (605) |
▼ 12.9% |
476 (546) |
▼ 12.8% |
51 (59) |
▼ 13.6% |
| Lots Sold |
422 (444) |
▼ 5.0% |
381 (399) |
▼ 4.5% |
41 (45) |
▼ 8.9% |
| Percent Sold |
80.1% (73.4%) |
▲ 9.1% |
80.0% (73.1%) |
▲ 9.4% |
80.4% (76.3%) |
▲ 5.4% |
| Total Raised |
£198.4M (£208.0M) |
▼ 4.6% |
£153.6M (£164.8M) |
▼ 6.8% |
£44.8M (£43.3M) |
▲ 3.5% |
 North-East
(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)
| May 2020 to July 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
455 (783) |
▼ 41.9% |
427 (714) |
▼ 40.2% |
28 (69) |
▼ 59.4% |
| Lots Sold |
401 (560) |
▼ 28.4% |
378 (516) |
▼ 26.7% |
23 (44) |
▼ 47.7% |
| Percent Sold |
88.1% (71.5%) |
▲ 23.2% |
88.5% (72.3%) |
▲ 22.4% |
82.1% (63.8%) |
▲ 28.7% |
| Total Raised |
£27.8M (£50.4M) |
▼ 45.0% |
£22.9M (£33.0M) |
▼ 30.7% |
£4.9M (£17.4M) |
▼ 72.1% |
 North-West
(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)
| May 2020 to July 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
924 (1,266) |
▼ 27.0% |
811 (1,052) |
▼ 22.9% |
113 (214) |
▼ 47.2% |
| Lots Sold |
709 (919) |
▼ 22.9% |
628 (778) |
▼ 19.3% |
81 (141) |
▼ 42.6% |
| Percent Sold |
76.7% (72.6%) |
▲ 5.6% |
77.4% (74.0%) |
▲ 4.6% |
71.7% (65.9%) |
▲ 8.8% |
| Total Raised |
£78.7M (£96.5M) |
▼ 18.5% |
£62.6M (£70.7M) |
▼ 11.5% |
£16.1M (£25.8M) |
▼ 37.7% |
 North-West Home Counties
(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)
| May 2020 to July 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
369 (548) |
▼ 32.7% |
322 (483) |
▼ 33.3% |
47 (65) |
▼ 27.7% |
| Lots Sold |
308 (420) |
▼ 26.7% |
269 (367) |
▼ 26.7% |
39 (53) |
▼ 26.4% |
| Percent Sold |
83.5% (76.6%) |
▲ 9.0% |
83.5% (76.0%) |
▲ 9.9% |
83.0% (81.5%) |
▲ 1.8% |
| Total Raised |
£65.1M (£105.5M) |
▼ 38.3% |
£53.2M (£71.9M) |
▼ 26.0% |
£11.9M (£33.7M) |
▼ 64.6% |
 Northern Ireland
| May 2020 to July 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
0 (101) |
▼ 100.0% |
0 (78) |
▼ 100.0% |
0 (23) |
▼ 100.0% |
| Lots Sold |
0 (51) |
▼ 100.0% |
0 (45) |
▼ 100.0% |
0 (6) |
▼ 100.0% |
| Percent Sold |
0.0% (50.5%) |
▼ 100.0% |
0.0% (57.7%) |
▼ 100.0% |
0.0% (26.1%) |
▼ 100.0% |
| Total Raised |
£0.0M (£4.0M) |
▼ 100.0% |
£0.0M (£3.5M) |
▼ 100.0% |
£0.0M (£0.5M) |
▼ 100.0% |
 Scotland
| May 2020 to July 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
36 (196) |
▼ 81.6% |
11 (137) |
▼ 92.0% |
25 (59) |
▼ 57.6% |
| Lots Sold |
29 (130) |
▼ 77.7% |
10 (90) |
▼ 88.9% |
19 (40) |
▼ 52.5% |
| Percent Sold |
80.6% (66.3%) |
▲ 21.6% |
90.9% (65.7%) |
▲ 38.4% |
76.0% (67.8%) |
▲ 12.1% |
| Total Raised |
£9.0M (£15.3M) |
▼ 41.0% |
£0.6M (£4.9M) |
▼ 88.5% |
£8.5M (£10.4M) |
▼ 18.5% |
 South-East Home Counties
(Includes East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex, Channel Islands)
| May 2020 to July 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
884 (1,106) |
▼ 20.1% |
761 (929) |
▼ 18.1% |
123 (177) |
▼ 30.5% |
| Lots Sold |
714 (824) |
▼ 13.3% |
615 (686) |
▼ 10.3% |
99 (138) |
▼ 28.3% |
| Percent Sold |
80.8% (74.5%) |
▲ 8.5% |
80.8% (73.8%) |
▲ 9.5% |
80.5% (78.0%) |
▲ 3.2% |
| Total Raised |
£161.3M (£181.2M) |
▼ 11.0% |
£123.4M (£124.2M) |
▼ 0.7% |
£37.9M (£56.9M) |
▼ 33.4% |
 South-West
(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Somerset, Wiltshire, Isles of Scilly)
| May 2020 to July 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
342 (552) |
▼ 38.0% |
281 (427) |
▼ 34.2% |
61 (125) |
▼ 51.2% |
| Lots Sold |
288 (418) |
▼ 31.1% |
236 (314) |
▼ 24.8% |
52 (104) |
▼ 50.0% |
| Percent Sold |
84.2% (75.7%) |
▲ 11.2% |
84.0% (73.5%) |
▲ 14.3% |
85.2% (83.2%) |
▲ 2.4% |
| Total Raised |
£69.3M (£78.1M) |
▼ 11.2% |
£47.9M (£52.3M) |
▼ 8.4% |
£21.4M (£25.7M) |
▼ 16.9% |
 Wales
| May 2020 to July 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
268 (505) |
▼ 46.9% |
222 (378) |
▼ 41.3% |
46 (127) |
▼ 63.8% |
| Lots Sold |
209 (353) |
▼ 40.8% |
172 (268) |
▼ 35.8% |
37 (85) |
▼ 56.5% |
| Percent Sold |
78.0% (69.9%) |
▲ 11.6% |
77.5% (70.9%) |
▲ 9.3% |
80.4% (66.9%) |
▲ 20.2% |
| Total Raised |
£26.1M (£40.4M) |
▼ 35.5% |
£16.9M (£26.5M) |
▼ 36.0% |
£9.1M (£13.9M) |
▼ 34.5% |
 West Midlands
(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)
| May 2020 to July 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
598 (933) |
▼ 35.9% |
543 (800) |
▼ 32.1% |
55 (133) |
▼ 58.6% |
| Lots Sold |
482 (695) |
▼ 30.6% |
438 (585) |
▼ 25.1% |
44 (110) |
▼ 60.0% |
| Percent Sold |
80.6% (74.5%) |
▲ 8.2% |
80.7% (73.1%) |
▲ 10.4% |
80.0% (82.7%) |
▼ 3.3% |
| Total Raised |
£73.5M (£109.5M) |
▼ 32.9% |
£58.3M (£71.5M) |
▼ 18.4% |
£15.1M (£38.0M) |
▼ 60.3% |
 Yorkshire and The Humber
(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)
| May 2020 to July 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
307 (690) |
▼ 55.5% |
247 (573) |
▼ 56.9% |
60 (117) |
▼ 48.7% |
| Lots Sold |
255 (536) |
▼ 52.4% |
204 (448) |
▼ 54.5% |
51 (88) |
▼ 42.0% |
| Percent Sold |
83.1% (77.7%) |
▲ 6.9% |
82.6% (78.2%) |
▲ 5.6% |
85.0% (75.2%) |
▲ 13.0% |
| Total Raised |
£31.7M (£66.6M) |
▼ 52.4% |
£19.6M (£41.4M) |
▼ 52.6% |
£12.1M (£25.2M) |
▼ 52.0% |
Your Comments
If you would like to comment on anything in this email, or have any suggestions for future newsletters, we would like to hear from you. So please email us anytime.
A word from the editor
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As ever I welcome any feedback you may have regarding the newsletters or indeed the wider market in general.
Kind regards
David Sandeman
davids@eigroup.co.uk
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