BRISTOL AND THE WEST COUNTRY’S BIGGEST LIVE PROPERTY EVENT hollis morgan
ANDREW REFLECTS ON OUR JULY AUCTION
“Auction really does mean action” The July auction set a record – in that we had eighty Lots on offer! This was too good an opportunity to miss and so, reminiscent of Jules Verne’s famous novel ‘ Around the world in eighty days ’, I was able to introduce the auction as ‘ Around the region in eighty Lots with Hollis Morgan ’. As an auctioneer this proved to be quite daunting task and I set myself eighty minutes to achieve it! This proved to be almost achievable as we sold several Lots prior to the evening successfully raising over £4.5m worth of property sales before I even got started on the rostrum. With a plethora of Lots from Gloucestershire to Yeovil and Oakhampton as well as, of course, Bristol there was no shortage of registered bidders with keen bidding taking place on line as well as the telephone. The opening Lots sold comfortably above their reserve price and then we came to the very popular St Johns Lane property, a house arranged as two flats, slowed proceedings down as we went in increments from the guide of £260,000 up to £374,000. When it came to another popular lot in Chepstow Road, Newport the bidding started in £5,000 increments, broke down to £2,000 increments and then, because of the keenness of the bidders I was obliged to return to £5,000 increments in order to speed the auction along. This took the property from a guide of £125,000 to £215,000. Just the sort of ratio I like! With a ninety-six per cent success rate and almost £8m of property sold I had no hesitation in thinking this was eighty minutes profitably spent! Over a refreshing glass of white wine, I concluded that the large number of Lots were indicative of the increasing number of vendors wanting and achieving action in what a somewhat dilatory private treaty market is unable to provide upholding our company maxim “Auction means action”. Andrew Morgan MBE . AUCTIONEER
07 2024
2024 RESULTS
% SUCCESS RATE £m TOTAL RAISED 07
96
16
7.88
19.21 %
AVERAGE ABOVE GUIDE
41 #
LOTS SOLD
…our July auction set a record – in that we had eighty Lots on offer ” “
hollis morgan | the results speak for themselves
Made with FlippingBook - Online magazine maker