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Auction House Declares Strong Figures after Brexit

Auction House has declared “business as usual” in the aftermath of Britain’s decision to leave the European Union.

The firm says that any uncertainty following the Brexit vote has had no impact on sales and has reported performance levels close to those seen in 2015.

Auction House’s figures for last month were very similar to those of last year, with only eight fewer lots sold (252) but a significantly better success rate of 81%, which is an increase of 4% on last year’s numbers.

The figures for the first six months of this year suggest a rise across the board in comparison with the same time frame of last year, with 1,513 lots sold of the 1,959 offered, which is a 77.2% success rate and has raised a total of £208.6 million.

Auction House Founding Director, Roger Lake, said that most areas saw “business as usual” in the auction marker in June despite the economic uncertainty that was brought about as a result of the Brexit vote.

He also declared that a total of five of its sales in June reported a success rate of 100% and insisted that they are a results based business whose performances continue to be impressive.

Lake added: “Our key strength lies in affordable volume stock in the regions, where people tend to buy for a purpose rather than a profit. So we predict that these areas will be least affected by any fall-out from Brexit that may follow.”

Although he did concede that there are sure to be challenging times ahead, he went on to suggest that any negative impact would not last long as long as interest rates remain stable and mortgages remain available.

He explained that the company’s July entries are steady, with the total projected to be just 5% down on 2015.

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Latest Issue

BDC 318 : Jul 2024