WALES’ leading property auction house has notched up its best online sales to date after recording buoyant results at its June event.
Paul Fosh Auctions says going online for its sales due to Covid-19 pandemic lockdown restrictions hasn’t dented its performance in fact in some areas it has improved.
Paul Fosh, owner of Newport-based Paul Fosh Auctions which normally welcomes some 300 people to its ‘ballroom’ sales is now seeing bidding from 51 countries on its properties.
Paul said: “Our June online property auction can only be described as one of the best. It was really phenomenal. It was a fantastic advertisement for the success of online auctions illustrating perfectly how successful they can be when embraced by both sellers and buyers and it really was embraced by both of those parties at the June auction.
“Given the current state of the property market in Wales and the obvious reluctance from some buyers and sellers, we have proved that by expertly valuing property at the right price for sellers and offering an online auction platform that is easy for buyers to use, the auction market is as strong as it has ever been.
“Some of the numbers we recorded from this month’s sale are really quite staggering with the overall sale price rivalling that of an 80-lot room sale and buyers fully invested in the platform with more than 1,700 bids placed. We really couldn’t be happier about some of the prices achieved for our clients.
“We had 56 properties listed in the online catalogue, with 74 per cent of that number sold. We registered 308 bidders for this June sale who made a total of 1,759 bids. We had a exceptional 63,000 site hits in the 48 hours the auction was live from an astonishing 51 different countries. The auction achieved total sales of £3.6m in sales. A number of properties attracted multiple bids and some went for almost twice their guide price.
“We were very pleased with the fantastic business generated and the brilliant sales total recorded and the fantastic results achieved for our clients.”
Among the Gwent properties in the June auction was 2 Penrhyn Terrace, a two-bedroom, mid-terrace house situated in Phillipstown near New Tredegar with garden to the front and rear which sold for £40,500 after 48 bids. Lot 52.
A cottage style, two-bedroom, mid-terrace property with gardens, at 6 Penywerlod Terrace, in Markham, near Blackwood sold for £68,000 after 20 bids. Lot 44
And a spacious, four-bedroom detached chalet-style bungalow at 62 Mill Road, Caerphilly, occupying a generous plot in a sought-after location close to Caerphilly town centre sold for £218,250 after 58 bids. The property, with bedrooms on the ground and first floor, has gardens and a garage with remote controlled shutter door. Lot 7.
Paul Fosh Auctions has been forced to take all its business online due to the current Covid-19 pandemic. Buyers and sellers are advised to contact the office number, 01633 254044, or email us, info@paulfoshauctions.com with any questions they may have or visit www.paulfoshauctions.com.
The next sale is on Thursday, July 23, commencing at 5pm with online bidding starting two days ahead of the sale.