Fine & Country has launched a dedicated auction division as the agency looks to offer sellers an alternative route to market with faster and more certain transactions.
Fine & Country Auctions will be led by auction specialist Ray Purchase and will provide vendors with access to a traditional auction platform designed to reduce transaction times and minimise the risk of sales falling through.
The new service will host a dedicated auction on the last Thursday of every month, featuring properties marketed exclusively by Fine & Country licensees. The company said the standalone format is intended to give its listings greater visibility than multi-agency auction events.
The platform will operate using the traditional auction method, with contracts exchanged immediately when the hammer falls and buyers paying a 10% deposit alongside a buyer’s premium. Fine & Country said this approach typically results in a fall-through rate of less than 1%.
Ray Purchase, managing director of Fine & Country Auctions, said: “Fine & Country Auctions has been created to give our network and their clients another powerful way to achieve a successful sale. The property market is changing, and sellers are increasingly looking for certainty, speed and confidence in their transaction.
“Traditional auction provides exactly that. Once the hammer falls, the buyer is committed, contracts are exchanged and the seller has a clear route through to completion. It removes many of the uncertainties associated with private treaty sales, such as broken chains, renegotiations and buyers withdrawing late in the process.
“Our aim is to combine the strength of the Fine & Country brand and its exceptional marketing with specialist auction expertise, creating a premium auction service for vendors across the UK.”
Fine & Country Auctions also provides an additional revenue opportunity for Fine & Country licensees. Estate agents will receive a 2% referral fee on every successful sale, paid within seven days of the hammer falling, with minimal fall-through risk.
If a successful bidder fails to complete the purchase, the buyer’s premium is used to cover the agent’s fees and auction costs, while the seller retains the 10% deposit.
The service offers two completion options. Sellers can choose a 28-day completion, aimed primarily at cash buyers and those using auction finance, or a 56-day completion, allowing more time for buyers purchasing with a mortgage.
Fine & Country said the auction service has been developed to work alongside its existing agency network rather than replace the traditional sales process. Vendors continue to deal with their local Fine & Country agent, who remains responsible for marketing the property, arranging viewings and managing the client relationship.
The specialist auction team supports agents throughout the transaction, providing auction pricing advice, preparing legal packs, marketing properties to auction buyers, managing the live auction process and progressing sales through to completion.
Nicky Stevenson, managing director of Fine & Country, commented: “The launch of Fine & Country Auctions reflects our commitment to continually evolve our services and provide our network with innovative ways to support their clients.
“Our offices already deliver outstanding results through premium marketing and local expertise, and traditional auctions provide another valuable option for sellers who need certainty and a defined timescale for completion.
“Fine & Country’s national network, premium positioning, and trusted reputation provide the perfect foundation for a dedicated traditional auction offering. We can now give vendors access to a specialist auction service while maintaining the high standards and personal service they expect from the brand.”
