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TheMoveChannel.com auction results

Catherine Deshayes

Check out which properties sold at TheMoveChannel.com and Sutton Kersch Binstock's property auction at The Property Investor Show, which took place last weekend, (19th-21st September).

The five properties which were up for auction included a flat in New Barnet, Hertfordshire, a Bulgarian home set on a large plot in need of renovation, a house made into three apartments in Germany, a two bedroom maisonette in Kensal Rise, London and a mid-terrace house in Liverpool.

The auction attracted a large crowd, and the auctioneer, Andrew Binstock, held a question and answer session, which gave audience members the chance to ask any questions they had about how the auction process works and how online auctions are the next big thing.

Three properties sold on the day. The property in Bulgaria sold for £2,500 on a phone bid, and, after much furious bidding, the German property went for £9,800, also to a phone bidder. The property in Kensal Rise, London, sold to a proxy bidder who had put in their bid of £240,000 before the auction took place. Neither the New Barnet home nor the Liverpool property obtained their asking price so remained unsold.

Andrew Binstock, Director of Sutton Kersh Binstock, said, "While the room was fairly full with people keen to learn more about property auctions, as expected the three properties that sold went to telephone bidders.

"We opened up the floor to questions afterwards and hopefully have now educated a few more people as to the benefits of selling and buying at auction.

"The growth of the auction market over the last ten years has been phenomenal and we are keen for the auction process to continue to grow in popularity with investors.

"In countries such as Australia the auction process accounts for a large percentage of property sales and we are keen for the market to grow in the same way in this country," Mr Binstock added.

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