Geoff Guest

Venmore sales top £7.85m in 2011

The Liverpool auctioneer's final auction of the year raised £1.8m, with 44 of 49 lots sold at the sale on 30 November in Hilton Liverpool One.

Geoff Guest, auction and commercial director, said: "We saw great sales on the auction day itself with the majority of sales coming from vacant residential properties. The real bestseller was lot 30: a spacious fourth floor, two-bedroom duplex apartment situated in Hatton Garden, which sold for £33,500 above the guide price at £138,500.

"This particular property had two very keen bidders and I'm confident that this property would have always achieved more in the auction than in the open market. This is a perfect example of proving that, even in a slow market, auctions can not only find competitive buyers but also desirable properties that get the best price."

Guest continued: "Towards the end of the year, we find that vendors of unsold properties are open to reducing their prices and are always willing to listen to reasonable offers. In this instance, we have sold nine properties [post auction] and have sales agreed on other properties for which vendors have reduced their prices."

Venmore's next auction will be held on Wednesday 15 February 2012 at 1pm at a new venue to be confirmed.

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