Following hot on the heels of their widely reported Network E success in Redhill last month when Network Auctions’ partner agent, Power Bespoke, achieved £465,000 against a guide price of £350,000, another fabulous result has been achieved, this time in Watford.

The property in Cassiobury, Watford, was placed on the market with Network Auctions partner Elliott Residential with a guide price of £830,000. By the time the online Network E auction finished, a price of £1,035,000 had been achieved.

Simon Meager, Sales Director at Elliott Residential said: “We were instructed by Executors and recommended using Network E as the method of sale as we felt it combined the best aspects of a private treaty sale with the transparency, certainty and speed of an auction. We held three open house viewing sessions and showed sixty interested parties around. This interest also generated a number of valuations and a further property instruction that is likely to follow the Network E route.

Bidding was fierce with a total of sixty four bids culminating in an excellent price of £1,035,00 being achieved. Crucially a non-refundable deposit was immediately paid and exchange set for twenty eight days.

Selling and buying can be a stressful time and where there is multiple interest in a property, the actual process of agreeing a sale can take several days with offers going back and forwards and the stress and frustration of all parties rising. Network E manages this process superbly, swiftly and with transparency.”

Network E is a unique service provided by NAVA auction house of the year Network Auctions through their growing network of partner agents.

In the last month, five new offices have joined Network Auctions: Redstones in Walsall, Wolverhampton and Telford, Hinton and Downes in Harrow Weald and Eric Clarke estate agents in Farnworth, Bolton.

Toby Limbrick, Manging Director of Network Auctions said: “We are enjoying a record year in our traditional auction business and our next sale will take place in London on 19th October. Network E is a fabulous addition to our business and our partner agents are using it to secure new business and successfully sell property that would otherwise be at the mercy of the private treaty marketplace.”