That latest auction hosted jointly by local estate agency Neil Robinson & Associates and their partners, Auction House Lancashire has yielded some excellent results.

Neil Robinson & Associates are Wigan’s only estate agent currently offering Auction services, and are delighted to offer the service alongside the UK’s largest property Auction business outside of London, having been granted exclusive rights in the Wigan and surrounding areas.

The Auction House brand has grown significantly over the last few years by teaming up with local estate agencies, successfully selling 308 lots, representing a value of £28.5m the period January-March 2011, giving them a success rate of 81%, compared to a national average of 69%.

The latest Lancashire auction, held at Preston North End Football Club’s ground, featured 59 properties - 28 of which came directly from NR&A. 51 sold, raising a total of £3.67 million in front of a packed auction room containing around 300 registered bidders.

One NR&A client entered a portfolio of 12 properties, which raised £72,000 more than the reserve price. Another property, a Georgian terraced house near Preston City Centre had a guide price of £200,000, and sold for £308,000.

But surely, auctions are a last resort? NR&A Sales Manager, David Allsopp disagrees.

“This is a commonly held view and, yes, there are a lot of properties there that are being auctioned because they have failed to sell on the open market. The buyers at auctions are mainly investors, so it's not always the best route if, say, you're selling the family home to upgrade to another family home.”

“It is, however, a fantastic way to sell an investor suitable property, or if the priority is to achieve a sale quickly. The bidders at the auctions have funding in place - remember, when the gavel falls, contracts are exchanged and the sale is legally binding - so the funding HAS to be there.”

“And it's not necessarily true that auction properties exclusively sell cheap. More than half of the properties at the last auction sold for 20-30% more than the reserve price, which is the lowest figure the vendor will accept.”

NR&A are already looking for properties to enter into the next Auction, to be held on the 25^th August 2011, again at Deepdale. If you think you have a property that may be suitable for Auction, then contact David Allsopp on 01942 418205 for a no-obligation chat.

Neil Robinson & Associates have been part of the Wigan property scene since 2002. Now offering services in property sales, mortgages and auctions as well as their traditional lettings and management service from offices in Pemberton, Wigan and Ashton-in-Makerfield, they have intimate and extensive knowledge of the local area.

NR&A are an independent and professional ‘people business’ with a positive, ‘can-do’ ethos, covering all aspects of residential property, and with a firm understanding of the local area around their offices that they say is “better than any other agent”. They can also be found on the internet at www.nr-associates.com