Our sister company, First For Auctions, has seen a steady rise in new instructions for its catalogues over recent months. Head of Auctions, Daniel Gale, believes this reflects uncertainty in the wider market, explaining:
“Auctions thrive on realism. Sellers want certainty and buyers want clarity, so both sides are taking a pragmatic approach.”
Many people still assume that auction properties are all in need of major renovation or are unmortgageable for reasons such as having a short lease. But increasingly, vendors who would previously have opted for a traditional estate-agency sale are now choosing to sell at auction.
For example, across August and September 2025, First For Auctions achieved an impressive 82% sales rate, with total sales exceeding £19m. And according to Daniel, even mortgageable, ready-to-move-into homes, the type that would normally sell via an estate agent, are achieving strong results when priced and marketed correctly. In September’s auction alone, sale prices averaged 17% above guide.
What’s the appeal of auctions? The pros and cons…
Advantages for sellers
The biggest benefits are speed and certainty. If you need to move quickly, an auction can remove the two major concerns of a traditional sale: waiting for a buyer and fearing that the sale might fall through.
• It can take as little as four weeks from instructing the auction company to your property going under the hammer, compared to an average of two to three months’ marketing via an estate agent before an acceptable offer is made.
• Contracts are exchanged on the auction day, and the buyer puts down a non-refundable deposit, usually 10%.
• The property is ‘sold as seen’ – buyers are not bidding subject to contract or survey - so there is no chance of later price or contract negotiation.
• Buyers’ bids are made publicly, providing a high level of transparency and competition.
Potential downsides
• There is a limited timeframe for your property to be marketed, and it’s to a smaller pool of buyers. On the other hand, you know that all those making bids are highly motivated and able to proceed to exchange on the day.
• There is the risk that you might get less than if you were prepared to wait for a better price on the open market.
• There may be a catalogue entry fee for listing your property – commonly around £300 plus VAT.
• If you change your mind about selling for some reason after the property has been booked into auction, you’re likely to have to pay a withdrawal fee, which can be as much as the full sale commission.
Things to know about selling property at auction
• You set a confidential reserve price, ensuring the property won’t sell for less than you’re prepared to accept.
• Marketing is very similar to a high-street estate agency sale, including quality photography, virtual tours and in-person viewings.
• The overall cost is broadly comparable to traditional selling; around 2% + VAT, payable only if the property sells (though some auctioneers charge the buyer instead).
• Your conveyancer must prepare a legal pack, available to buyers in advance. This typically includes:
o Title Deeds
o Land Registry and local searches
o Property information and fixtures & fittings forms
o Planning documentation
o Conditions of sale (e.g. completion date, overage clauses)
o Completion usually takes place 4–6 weeks after the auction.
If you’re thinking of selling and want to explore your options including whether an online auction might be the right route for you, our team is always happy to advise. Contact your nearest branch and have a chat to one of the sales team.
To learn more about selling at auction, you can also get in touch with First For Auctions directly via their website.
