Demand for property auctions has been steadily increasing since the first UK-wide foreclosure in March 2020. However, as the country returns to a semblance of normalcy, auctioneers continue to see a influx of new people get to online auctions.
Propertymark has heard from auctioneers across the country who have noted the growing appetite of people of all ages going to auctions, but with that comes a dying need for more resources to handle the influx of newbies.
Now that many companies have been pushed to bring their services online due to COVID-19, including auctioneers, this has opened up the world of auctions not only to regular auction participants to give them access from the comfort of their home, but to savvy young people, busy parents and breeders who typically shop online.
Hiscox said online art sales reached £ 5 billion in the first six months of 2021, a 72% increase over the same period in 2020. and Phillips – saw an increase of 405% of year-over-year sales in the second quarter of 2021 between April and June.
Craig Bewick, NAVA Propertymark Advisory Board Member and Auction House Manager, Certified Auctioneer and Appraiser at Golding Young, commented: “People’s interests and hobbies have changed since COVID, and that has caused a lot of people to keep investing in their homes.
“Most auctioneers have grasped these online opportunities with both hands and tailored their offerings to better meet what people are looking for now.
“People now seem to have understood the advantages of buying from auction houses over retail, especially given the increase in the price of raw materials and the number of people looking to buy the items. because they now know they can buy high quality. goods for a fraction of the price.
“We continue to see an increasing number of vacancies for appraisers and auctioneers due to increased demand. The next step for auctioneers is to educate them about the exciting world of auctions to attract more people to the industry.
As more and more people realize what auctions are all about, coupled with the UK government’s extension of the apprenticeship tax, opportunities arise for employers to work to breathe new life into the workplace. industry.
In March 2022, Propertymark will once again support novice auctioneers at its Auctioneer of the Year award event, which aims to bring together like-minded professionals and junior auctioneers to celebrate successes. Of the industry.