BidX1 reported a 64% success rate for its September auction, raising a total of £4.4m.
The online auctioneer sold 31 of the 49 lots offered at its online sale on 18 September.
Highlights of the sale included a Jobcentre Plus in Dyfed, Wales, with an annual income of £75,626, which was sold for £629,000, and a semi-detached holiday home in Enniskillen, County Fermanagh, Northern Ireland, with an income of £10,200, which was sold for £180,000.
“There is money to be spent across all sectors but buyers are very price-sensitive,” said Richard Watson, BidX1’s residential auctions head. “Assets that can be managed to create value are very popular.”
After establishing itself in Ireland in 2011, BidX1 launched its UK online auctions business in October 2018, raising £11.8m in its first sale and reporting a success rate of 81%. Since then the firm has held six further sales, with success rates varying between 60% and 89%.
BidX1 said that this meant its average success rate from January to the end of August stood at 74.5%, compared with an industry average of 69.5% for the same period.
According to auctions data service Essential Information Group, the average success rate for UK auction sales in August (the latest data available) stood at 69%.
BidX1’s next online auction will take place on 30 October.
