New properties are pouring in for Bond Wolfe Auctions’ first auction of the year following a record-breaking success in its first 12 months of trading.
Since its 2019 launch, the auctioneer has sold 654 out of 751 lots offered in six auctions, achieving an average success rate of 87% and raising more than £81.4 million in sales.
This included an impressive 95% success rate in its December auction, when 151 lots were sold from the 159 offered – the highest sales rate for a Midlands auction for 15 years.
“We now hold the record for the most property lots ever sold in a Midlands auction, have recorded the highest sales rate since 2004 and are established as the region’s top auctioneer by some distance,” Gurpreet Bassi, chief executive of Bond Wolfe Auctions, comments.
“We’re also constantly increasing the volumes of properties from across the wider West Midlands, the East Midlands, the north west and north east regions, and from as far afield as Wales and Scotland.”
In line with the sales success, Bassi won the ‘Young Leader’ trophy at TheBusinessDesk’s West Midlands Leadership Awards in November and has been shortlisted for ‘Entrepreneur of the Year’ at The Signature Awards 2020, where Bond Wolfe has also been shortlisted for ‘Excellence in Real Estate’.
Bassi says the company had originally considered opening auction events in other regions of the UK, but the appeal of the Birmingham-based auctions at Aston Villa FC proved so strong that it had shelved any plans for new venues.
He adds: “We realised that a central UK location at the heart of the motorway network and with good rail connections to the north and south is perfect for most bidders, with many more joining us online and by telephone.”
Ian Tudor, managing director at Bond Wolfe Auctions, agreed that the central location has proven a winning formula for the Midlands-wide auction house. He says: “Our auction dates at Villa Park have quickly built up a fantastic reputation for residential lots, with commercial lots also becoming increasingly popular as the year progressed.”
“With more political stability following the general election result, I think we will see the floodgates open as many businesses and landowners seek to maximise asset values in order to fund expansion plans.”
Bond Wolfe Auctions’ six sales for 2020 will be held from 10:30am at Aston Villa FC on the following dates:
- Thursday 27 February
- Wednesday 6 May
- Thursday 16 July
- Thursday 10 September
- Thursday 22 October
- Thursday 10 December