Livestream property sales are the future, says top firm

The Conavirus pandemic has proved that the power of livestream sales far outweighs the impact of online auctions, according to auctioneer and director of Auction House London, Andrew Binstock.

Binstock has helped to develop the firm’s livestream system over the last 18 months and he believes auctioneers will only be driven back to an actual auction room by a wish from some in the industry to keep a tradition going.

He points out that his company’s latest sale attracted its highest ever number of lots, having successfully sold 90% of them.

Binstock said: “Since we were forced to move to livestream sales as a result of Covid, our numbers are just going up and up. In our last sale we had 172 properties listed – our highest ever in any auction.

“There are more sellers and buyers flocking to us at each sale and the figures speak for themselves. We’re doing better than ever, and I have no reason to want to turn back the clock – especially when we’re smashing it right now!”

He continued: “Our feedback shows our clients love this way of buying and selling. Meanwhile, some of our comeptitors, trying to sell using the online-only route without interaction from an auctioneer, are struggling.

“The service we provide is second to none. Not many auctioneers are willing to spend nine-and-a-half hours on the rostrum. The skill of an auctioneer is crucial in sensing the temperature of a sale – something a computer and its algorithums simply can’t do.”


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