You may choose to sell your commercial property at either national or local auction. This section details the advantages associated with each type of auction in order to help you choose which is more suitable for selling your commercial property.
Commercial property auctions take place regularly, at both a local and national level, and both have advantages to sellers depending on what type of sale experience they may be looking for.
If you choose to sell your property with a national auctioneer you will enjoy the following benefits.
1. Levels of marketing – National auctioneers are able to conduct extensive marketing on your behalf. For a start, the number of catalogues mailed out will be far greater than those a local auctioneer would produce. In addition to this they generate exposure for your property in a variety of other ways discussed elsewhere in this guide.
2. Client base – National auctioneers can have large numbers of registered investors, both in the UK and abroad, who are kept abreast of upcoming lots that they may wish to consider.
3. Auction attendance – With 100s of lots included in their catalogues, national auctioneers are able to attract large numbers of bidders to their high profile auctions, which can drive prices upwards.
These factors may lead you to choose a national auctioneer but there are also advantages associated with local auctions.
1. Local expertise – Local auctions are conducted by smaller agents who are able to offer you sound advice based on extensive knowledge of the local market.
2. Ease of access – Local auctions are conducted in strategically located regional venues eliminating the need to travel long distances to see your property sold.
3. User friendly experience – Catalogues for these types of auctions generally include only 40-50 lots and take place in more intimate surroundings than national auctions, which some bidders may prefer.
