Record bidders register for first online £5m auction of the year

28th January 2021

A record number of registered bidders saw sales at Mark Jenkinson and Son’s first online auction of the year top nearly £5million.

The first of eight online auctions scheduled for 2021 – an approach which the Sheffield firm has described as ‘ideal’ and ‘successful’ – saw 33 of 36 lots offered go for £4.96m.

The record number of bidders included 46 for one property, with 390 parties registered to bid since going live just before Christmas.

Lots were located in Sheffield, Rotherham, Hull, Chesterfield, Matlock, Epworth and Doncaster with the highest price on the day £437,000 for a landmark town centre freehold office investment in the centre of Rotherham with a guide price of £350,000.

Twelve Sheffield homes sold for a combined total of £1,701,500, against a total combined guide price of £1,266,000, including a two-bedroom end terrace in need of improvement in Grimesthorpe which went for more than double the guide price of £28,000 at £62,000.

Several other Sheffield houses sold well above their estimate, including a three-bedroom inner terrace in need of complete modernisation in Firth Park, with a guide price of £60,000 - £70,000 which sold for £90,500. Meanwhile a four-bedroom stone-built semi-detached house in need of general modernisation and structural repair in Nether Edge with a guide price of £200,000 - £225,000 sold for £245,000.

Mature woodland of approximately 2.42 acres located in an established residential area off Cobnar Road in Woodseats with a guide price of £10,000 sold for £68,000.

A freehold site with planning consent for the erection of a vicarage with detached garage in Epworth sold on behalf of The Lincoln Diocesan Trust and Board of finance went for £223,000 against a guide of £75,000.

Adrian Little, Head of the Auction Department at Mark Jenkinson and Son, said: “This was our first sale of the year and the level of activity was on a par with the previous three sales last year that each saw over £5million raised.

“Our online auctions have been so successful for us and present an approach that brings fairness, accountability and competition – it is ideal for dealing with sales for Local Authorities, Trusts, Executors, and so on.”

The next online auction will be held on 2nd March 2021.

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