Double the reserve plus £32,000 achieved at first auction of year

From the 14 available properties, 11 sold providing for a success rate of almost 80 per cent with the star of the show being lot number 18, a garage in Gloucester Place, Brighton, which from a guide of £80,000 to £90,000 sold for an astonishing £212,000, with 44 bids in total received for this particular lot alone.

Auctioneer Simon Caplin said: “I wondered whether the bidding was ever going to stop with the amount of people wanting to buy the property, especially when at one particular point during proceedings four people all raised their paddles at the same time!

“My client was in the audience witnessing the amount of bids I was receiving that culminated in the fabulous price achieved and resulted in him leaving the auction with a rather large smile on his face!”

The auction itself raised almost £2.4million in property values, with the vast majority that sold selling for comfortably in excess of their reserve prices, and ranged from a ground floor flat in Brighton that sold for £20,000 over the lower-end of the guide price, while a house in central Hove sold for £80,000 above its lower-end guide.

At the other end of the spectrum, a freehold ground rent investment in London sold on a 25 Years Purchase for £6,500, while the car parking spaces in Springfield also achieved an extremely good price moments after the auction had finished.

Simon said: “It would seem that whether we sell prior, during or just after the auction, we are achieving fantastic prices for our clients on a very consistent basis, now with the added advantage being the fact that we only ever sell to chain-free cash buyers whereupon our clients are not only benefiting from the prices we are achieving but also the speed in which their sales are completing.

“From the sales generated in this particular auction, our sellers will be receiving their money in 28 days’ time without having to suffer any survey issues, mortgage down valuations, breaks of chains or people changing their minds as once the hammer comes down – the contract is exchanged immediately and 100 per cent legally binding.”

There were only three lots that remained unsold, however since the auction each have all received post-auction offers which will hopefully result in yet another 100 per cent sell-out for Parsons Son & Basley.

If you have a property you are thinking of selling and would like a free, no obligation valuation please contact the auctions team on 01273 274014 or visit www.psandb.co.uk