Virtually no looking back as Paul Fosh Auctions knocks down a record number of online sales

Leading Wales property auctioneer Paul Fosh recorded his biggest sales figures in more than ten years at the latest online auction sale.

Newport-based Paul Fosh Auctions sold property to the total value of £5.8m+ from a catalogue listing some 91 properties in a sale which was held totally online.

The property business, a regular prior to lockdown on BBC’s Homes Under the Hammer, says business continues to boom in a virtual sales world after being completely online since March.

Paul Fosh said: “The September auction was a really great sale. The interest and resulting sales was quite astonishing. It really was fantastic. We had tremendous results for our vendors and buyers.

Forced into going online due to the pandemic but more than happy to now be virtual, Paul said: “It was simply the best auction for us in more than 10 years. The way forward for Paul Fosh Auctions now is undoubtedly online as the results just speak for themselves. I just can’t see us going back to ballroom sales for the foreseeable future.

“The total value of sales at over £5.8m is the biggest in terms of money for us in more than ten years. Vendors and buyers have adapted so well to online sales, its brilliant for everyone involved.

“The September sale was the largest for us in terms of bidders. We had 1,163 people registered with 574 of those being actual bidders.

“These figures are a clear sign that our buyers are invested in our online auctions. This is underlined by the enormous amounts of bids that are actually placed. The lots offered received a total of 2,620 bids online throughout the time the auction was running which equates to an average per lot of some 37 bids. These are fabulous stats.

“Over the 48-hour period of bidding our website received more than 115,000 hits from 62 different countries. This is a 27% increase on what was already a record notched up in July.

“I’m buzzing, and the entire Paul Fosh Auctions team are just so pleased we were able to produce such a fantastic result for our vendors. It’s working out really well and we just can’t wait for the next auction.”

Among the highlights of the September sale was a Georgian town house in the heart of a Monmouthshire town on the site of an hotel where Admiral Lord Horatio Nelson stayed in 1802 listed with a guide price of £160,000.

The lot attracted a phenomenal 184 individual bids before eventually selling for £285,250.

The castellated remains of a former drill hall in Newport destroyed in a fire sold for £199,500 after being listed with a guide price of £160,000. While two apartments and a town house in St Mary Street, in the centre of Monmouth, attracted 30 bids before selling for £394,000

The next Paul Fosh Auctions online sale opens for bidding on Tuesday, October 20 at 12 noon.