Auction Estates Property Auctions: An Insider's Look [2022]

About Performance Fees Reviews How do they work?Auction Events

FAQs

About Performance Fees Reviews How do they work?Auction Events

FAQs

About Auction Estates Property Auctions

Auction Estates are a small, regional auction house based in Nottingham. They were established on Apr 25, 2016.

They're members of the following organisations:

Tip: I only ever recommend dealing with auction houses who are NAEA-protected, NAVA-protected, and are members of the Property Ombudsman.

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Where do Auction Estates Property Auctions cover?

Auction Estates are a regional auction house focused on the East Midlands.

Nottinghamshire is their biggest county. They've auctioned 158 properties here in the last 12 months, accounting for 58% of their business.

Auction Estates Property Auctions are a regional auction house. East Midlands is the biggest region for them.

They've auctioned 208 properties here in the last 12 months, accounting for 76% of their business.

Tip: If you’re selling your house at auction it’s a good idea to look for an auction house with a strong focus on your area.

What types of properties do Auction Estates auction?

Auction Estates mainly focus on selling residential properties, which account for 72% of their listings.

Auction Estates Property Auctions mainly focus on selling land, which accounts for 72% of their listings.

They also have a strong presence in selling commercial property, which accounts for 15% of their listings.

They also have a strong presence in selling land, which accounts for 15% of their listings.

What price range do Auction Estates specialise in?

For residential sales, their average selling price is £174997.

This is lower than the national average of £717968, which means they generally cater to the lower end of the market, or focus on regions where property prices are generally cheaper.

This is lower than the national average of £717968, which means they generally cater to the upper end of the market, or focus on regions where property prices are more expensive.

This is lower than the national average of £717968. This either means they don't have a particularly strong focus on the upper or lower end of the market, or means that they focus on regions where property prices are in line with the national average.

£1 – £100k

36%

£100k – £250k

42%

£250k – £500k

18%

£500k – £1m

£1m +

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Are Auction Estates
Right For You?

Find the right auction house for your property sale.

Free referral to my #1 Leading Auction House in your area.
‍(Take the guesswork + time out of choosing who to use)
Free valuation + all your auction questions answered...
(by experienced auction experts I know and trust)
And if you decide to sell... enjoy Preferential Rates
(Exclusive discounts for Home Selling Expert readers)

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Auction Estates Auction Performance

We break performance into 3 key parts: Market Share, Succes Rate, and Customer Satisfaction.

Success Rate

Auction houses don't sell every property they take on. The success rate is the percentage of their properties they successfully manage to sell.

42%

Auction Estates have the #1 highest success rate among auction houses in England & Wales.

Auction Estates have the 25 highest success rate among auction houses in England & Wales.

They successfully sell 42% of the properties they list, which is lower than the national average of 48%.

Tip: A higher success rate usually means an auction house is more realistic with their valuations, are less likely to take on customers with unrealistic expectations, and may be more efficient at generating interest and bids from buyers.

Reviews

2 Reviews

2 Review

Auction Estates Property Auctions have been reviewed 2 times in the last 12 months, with an average score of 4.5/5. Read more about their reviews here.

Tip: Review scores are important to consider, but it’s important know what customers are actually saying as well. We outline the overall themes of their reviews further down this page.

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Auction Estates Auction Fees

1.5%

+ vat

Auction Estates charge a standard auction commission fee of 1.5% + vat.

1.5%

+ vat

The auction fee Auction Estates charge depends on the selling price. They charge:

1.5% + vat on properties up to £.
% + vat on properties up to £.
% + vat on properties above £.

1.5% + vat on properties up to £.
% + vat on properties above that.

Commission Fee

This is the main fee for the service. It's either paid by the buyer, or directly from the sale proceeds, so sellers never have to pay this fee out-of-pocket.

Who pays the commission fee?

The commission fee is paid by the Seller.

Is there a minimum fee?

The commission fee is subject to a minimum of £1000 + vat.

Tip: Although the buyer pays the fee with Auction Estates, sellers shouldn't think of it as a "free service" for them. Whatever additional fees the buyer has to account for will ultimately reduce what they'll be willing to bid for a property, reducing the amount the seller ends up with.

Tip: Although the buyer pays the fee with some other auction houses, you shouldn't necessarily think of those as "cheaper than" Auction Estates, who charge the sellers the fee. This is because whatever additional fees the buyer has to account for will ultimately reduce what they'll be willing to bid for a property.

Buyer's Premium

Auction houses often charge the successful bidder an additional fee, called a "Buyer's Premium".

Are buyers also charged a fee?

Buyers pay an admin fee of % + vat, subject to a minimum of £1200 + vat.

Buyers pay an admin fee of £1200 + vat.

Are buyers charged an additional fee on top of the commission?

Buyers pay an additional "buyer's premium" of % + vat, subject to a minimum of £1200 + vat.

Buyers pay an additional "buyer's premium" of £1200 + vat.

Tip: Buying at auction? More than 25% of buyers get caught out by unexpected fees. Don't be one of them. Download our free checklist and learn where to spot hidden auction fees.

Other Fees For Sellers

We've done our best to uncover additional fees charged by Auction Estates. These can change over time though, so always be careful to check the paperwork closely.

Are there auction entry fees?

Sellers pay an up-front auction entry fee of £350 + vat. This is non-refundable, even if the property fails to sell at auction.

Auction Estates Property Auctions do not charge auction entry fees. Most auction houses charge around £300.

Do they charge withdrawal fees if you change your mind?

Are there any hidden costs or other fees?

What about legal costs?

Remember that you’ll always have legal fees to pay too. These are separate to the auction fees, and Auction Estates Property Auctions don’t have any control over these.

Auction legal fees come in two parts: An up-front element for the legal pack, and the final legal fee, which is paid on completion of your sale.

Tip: No auction entry fees with the auction houses we recommend. Many auction houses willing to negotiate on this.

free AUCTION valuation

Are Auction Estates
Right For You?

Find the right auction house for your property sale.

Free referral to my #1 Leading Auction House in your area.
‍(Take the guesswork + time out of choosing who to use)
Free valuation + all your auction questions answered...
(by experienced auction experts I know and trust)
And if you decide to sell... enjoy Preferential Rates
(Exclusive discounts for Home Selling Expert readers)

Would you like some free expert advice? 👇

I'm selling →I'm buying →

Free expert advice and guidance for buyers and sellers

Auction Estates Reviews

0/5 out of 0 reviews

4.5/5 out of 2 reviews

0/5 out of 0 reviews

Good things people say (Pros)

What can be improved (Cons)

How Auction Estates work

Auction Estates auction process

What types of auction do they run?

Auction Estates Ltd run traditional property auctions which take place every couple of months at the Nottingham Racecourse. Potential buyers can either attend the auction event, or place bids remotely online, by phone or proxy.

With traditional auctions, a 10% deposit is paid and contracts are exchanged immediately, with completion 28 days later.

What happens on auction day?

You can either attend the auction or a member of the team will call and tell you the outcome shortly after the auction has been held.

If the property reaches the agreed reserve price, then the lot will be sold with an immediate exchange of contracts and the buyer will have to pay a 10% deposit with completion usually taking place around 21-28 days after the auction.

What happens if your property doesn't sell at auction?

If the property fails to sell at auction, then a sale can be agreed soon after the auction finishes.

There is also an option to re-enter the lot at the next available auction for a second chance. You will not have to pay a second entry fee.

More info coming soon!

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How Auction Estates market your property

How will Auction Estates advertise your property?

Auction Estates Ltd offer over four weeks of intensive marketing prior to auction, which includes listings on Rightmove, digital advertising and press coverage in local, regional, national and trade media.

Your property will be listed in the Auction Estates Ltd catalogue which is marketed on the website and other property related websites.

Auction Estates Ltd also utilises social media platforms such as Instagram, Facebook, Twitter and LinkedIn to ensure your lot is visible and available to all potential buyers.

How do they get property photos?

A member of the team will take photographs, measurements, and the information needed for the property description when they visit your property to carry out the valuation.

Will your listings include a floor plan and video walkthrough?

Auction Estates Ltd can arrange for video tours and floor plans to be included in your listing.

How do Auction Estates conduct viewings?

Bob Crocker, with 40 years’ worth of experience, will carry out viewings on your behalf. Auction Estates Ltd will usually arrange four block viewings in the lead up to the auction.

More info coming soon!

We're adding more information all the time. Check back soon, or contact us right now for advice. Hit one of those big buttons to get started.