Humberts does deal with new online provider to spare buyers ‘trauma’ of auction room

Humberts has a partnership with a new online auction provider, Whoobid.

It means that the upmarket chain will now be able to offer an online white-labelled auction service – with the choice of traditional auctions with instant exchange, or the modern method of auction which allows for deferred exchange and completion.

Vendors will pay 0% commission if they choose to go the auction route, although buyers will be charged.

Whoobid managing director Alex Haig welcomed the deal while Humberts CEO Tim Simmons said: “Humberts views the partnership with Whoobid as a great way to further increase our spectrum of services whilst at the same time staying at the forefront of innovation.

“The traditional auction room environment is way outside the comfort zone of most of our clients, but this exciting method offers the best of both worlds, namely a full and comprehensive marketing programme as well as a brilliant and secure method of securing a completed sale without the trauma of an auction room.”

Whoobid is a relative newcomer to the auctions sector. Buyers pay 2.5% plus VAT, with a minimum of £4,000 plus VAT, of which Whoobid pays partner agents a 60% cut of the commission.

Each auction run on the Whoobid platform lasts for three hours.

Online auction firm looking to double by the end of this year

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2 Comments

  1. Property Pundit

    ‘Trauma’? Worth pointing out there’s every chance the agent gets a load more commission via MMA.

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