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HomeProperty Auction Houses

About Network Auctions

Network Auctions are a small, national auction house based in Watford. They were established on Feb 27, 2009.

Where do Network Auctions cover?

Network Auctions are a national auction house focused on the South East.

Devon is their biggest county. They've auctioned 26 properties here in the last 12 months, accounting for 11% of their business.

Network Auctions are a national auction house. South East is the biggest region for them.

They've auctioned 57 properties here in the last 12 months, accounting for 24% of their business.

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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 Network Auctions auction?

Network Auctions mainly focus on selling residential properties, which account for 66% of their listings.

Network Auctions mainly focus on selling land, which accounts for 66% of their listings.

They also have a strong presence in selling land property, which accounts for 24% of their listings.

They also have a strong presence in selling land, which accounts for 24% of their listings.

What price range do Network Auctions specialise in?

For residential sales, their average selling price is £137093.

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
58%
£100k – £250k
19%
£250k – £500k
14%
£500k – £1m
9%
£1m +
0%

Network Auctions Auction Performance

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

Market Share

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Market share is the percentage of total auction sales that are made by a single company.
2.1%
28

Network Auctions are the #1 largest auction house in England & Wales.

Network Auctions are the 28 largest auction house in England & Wales.

They sold 46 properties over the last 12 months, giving them a market share of 2.1%. (Nationally, a total of 2140 properties were sold by auction over the last 12 months).

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Tip: When you’re deciding which auction house to sell with, a larger market share can mean a safer bet.

Don't rule out smaller auction houses though. Your experience with a company ultimately comes down to the person you deal with there, rather than the size of the company. Read more here.

Success Rate

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Auction houses don't sell every property they take on. The success rate is the percentage of their properties they successfully manage to sell.
20%
29

Network Auctions have the #1 highest success rate among auction houses in England & Wales.

Network Auctions have the 29 highest success rate among auction houses in England & Wales.

They successfully sell 20% of the properties they list, which is lower than the national average of 48%.

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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

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Auction house review icon in red - 5 starsAuction house review icon in red - 4.5 starsAuction house review icon in red - 4 starsAuction house review icon in red - 3.5 starsAuction house review icon in red - 3 starsAuction house review icon in red - 2.5 starsAuction house review icon in red - 2 starsAuction house review icon in red - 1.5 starsAuction house review icon in red - 1 starAuction house review icon in red - 0.5 starsAuction house review icon in red - 0 stars
5 Reviews
5 Review

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

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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.

Network Auctions Auction Fees

2.5%
+ vat

Network Auctions charge a standard auction commission fee of 2.5% + vat.

2.5%
+ vat

The auction fee Network Auctions charge depends on the selling price. They charge:

  • 2.5% + vat on properties up to £.
  • % + vat on properties up to £.
  • % + vat on properties above £.
  • 2.5% + vat on properties up to £.
  • % + vat on properties above that.

Commission Fee

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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.
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Who pays the commission fee?

The commission fee is paid by the Seller.

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Is there a minimum fee?

The commission fee is subject to a minimum of £2500 + vat.

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Tip: Although the buyer pays the fee with Network Auctions, 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.

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Tip: Although the buyer pays the fee with some other auction houses, you shouldn't necessarily think of those as "cheaper than" Network Auctions, 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

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Auction houses often charge the successful bidder an additional fee, called a "Buyer's Premium".
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Are buyers also charged a fee?

Buyers pay an admin fee of % + vat, subject to a minimum of £1000 + vat.

Buyers pay an admin fee of £1000 + vat.

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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 £1000 + vat.

Buyers pay an additional "buyer's premium" of £1000 + vat.

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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

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We've done our best to uncover additional fees charged by Network Auctions. These can change over time though, so always be careful to check the paperwork closely.
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Are there auction entry fees?

Sellers pay an up-front auction entry fee of £500 + vat. This is non-refundable, even if the property fails to sell at auction.

Network Auctions do not charge auction entry fees. Most auction houses charge around £300.

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Do they charge withdrawal fees if you change your mind?

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Are there any hidden costs or other fees?

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What about legal costs?

Remember that you’ll always have legal fees to pay too. These are separate to the auction fees, and Network 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.

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

Network Auctions Reviews

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Auction house review icon in red - 5 starsAuction house review icon in red - 4.5 starsAuction house review icon in red - 4 starsAuction house review icon in red - 3.5 starsAuction house review icon in red - 3 starsAuction house review icon in red - 2.5 starsAuction house review icon in red - 2 starsAuction house review icon in red - 1.5 starsAuction house review icon in red - 1 starAuction house review icon in red - 0.5 starsAuction house review icon in red - 0 stars
0/5 out of 0 reviews
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Auction house review icon in red - 5 starsAuction house review icon in red - 4.5 starsAuction house review icon in red - 4 starsAuction house review icon in red - 3.5 starsAuction house review icon in red - 3 starsAuction house review icon in red - 2.5 starsAuction house review icon in red - 2 starsAuction house review icon in red - 1.5 starsAuction house review icon in red - 1 starAuction house review icon in red - 0.5 starsAuction house review icon in red - 0 stars
5/5 out of 5 reviews
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Auction house review icon in red - 5 starsAuction house review icon in red - 4.5 starsAuction house review icon in red - 4 starsAuction house review icon in red - 3.5 starsAuction house review icon in red - 3 starsAuction house review icon in red - 2.5 starsAuction house review icon in red - 2 starsAuction house review icon in red - 1.5 starsAuction house review icon in red - 1 starAuction house review icon in red - 0.5 starsAuction house review icon in red - 0 stars
0/5 out of 0 reviews
AllAgents reviews icon
Auction house review icon in red - 5 starsAuction house review icon in red - 4.5 starsAuction house review icon in red - 4 starsAuction house review icon in red - 3.5 starsAuction house review icon in red - 3 starsAuction house review icon in red - 2.5 starsAuction house review icon in red - 2 starsAuction house review icon in red - 1.5 starsAuction house review icon in red - 1 starAuction house review icon in red - 0.5 starsAuction house review icon in red - 0 stars
0/5 out of 0 reviews

Good things people say (Pros) 

What can be improved (Cons) 

How Network Auctions work

Network Auctions auction process

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What types of auction do they run?

Network Auctions run traditional property auctions which are held online every four to six weeks.    

With traditional auctions, a 10% non-returnable deposit is paid and contracts are exchanged immediately.

The buyer must then complete within the agreed completion period, which tends to be 20 working days.

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What happens on auction day?

You will be able to follow the bidding in real time once the auction opens via the catalogue bidding window for each lot.  The auction will proceed in lot order and the scheduled end time for each lot is shown on the screen.

Pre-registered bidders can make offers by telephone, proxy or online.  

If the property reaches the agreed reserve price, then the lot will be sold with an immediate exchange of contracts.  The buyer will have to immediately pay a deposit of 10% of the purchase price, subject to a minimum of £5,000, by bank transfer.

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

If the property fails to sell at auction, Network Auctions will try and tie up a post-auction sale for you in the two weeks following the auction.

You can also enter the lot into the next available auction at no additional cost.

Network Auctions will retain sole selling rights for a minimum period of 30 days after the auction up to and until Network Auctions receive and acknowledge written notice confirming you are terminating the agreement.  The sole selling rights agreement will then remain in force for a notice period of 21 days after receipt of the written notice of termination.

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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.

How Network Auctions market your property

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How will Network Auctions advertise your property?

Network auctions offer a range of advertising techniques to ensure your lot is visible and available to all potential buyers, including:

  • National and local advertising and PR
  • A database of local and national auction buyers
  • Comprehensive full-colour catalogues and details, which are both printed and available online
  • E-marketing campaigns
  • Advertising on Network Auction’s website
  • Links to and from prime property portals
  • Member network providing wider visibility for your property
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How do they get property photos?

A member of the auction team will visit the property to take photographs, measurement, a video tour and floor plan.

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Will your listings include a floor plan and video walkthrough?

Yes, both are included in the listing.

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How do Network Auctions conduct viewings?

A member of the auction team will carry out block viewings on your behalf which tend to last an hour.

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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.

Other questions

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How do Network Auctions value your property?

A member of the auction team will carry out a desktop appraisal to work out the market value of your property.

They will then work with you to come up with a reserve price that you are happy with, and you can then decide whether you’d like to move forward.

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How long is the contract with Network Auctions?

The contract runs up until the auction date (usually around 4-6 weeks away). It extends for an additional 2 weeks if the property fails to sell.

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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.

Network Auctions Auction Events & Results

Showing last 12 months of auction results. Use the tabs above to see Upcoming Auctions.

13
Jul
2023
July 2023
Online Only
 • 
11:00 am
Awaiting Results
Property auction icon in red
0 Lots Offered
Auction success rate certificate in red
0 Sold
Pound icon in red
£0 in Value*
Auction house success rate icon in red
9223372036854776000% Success Rate
08
Jun
2023
June 2023
Online Only
 • 
11:00 am
Awaiting Results
Property auction icon in red
0 Lots Offered
Auction success rate certificate in red
0 Sold
Pound icon in red
£0 in Value*
Auction house success rate icon in red
9223372036854776000% Success Rate
27
Apr
2023
April 2023
Online Only
 • 
11:00 am
Awaiting Results
Property auction icon in red
0 Lots Offered
Auction success rate certificate in red
0 Sold
Pound icon in red
£0 in Value*
Auction house success rate icon in red
0% Success Rate

* = Estimated based on sold prices available

Showing upcoming auction events.

No items found.