New auctions business raises £30m in first two events

An auctions business which launched earlier this year has raised £30m in its first two events.

Bond Wolfe Auctions was set up in January, reuniting a number of senior people who had worked together at CP Bigwood then SDL Bigwood, following the 2016 merger.

Its first two auctions since launch offered 230 lots with an average success rate of 87%.

Chief executive Gurpreet Bassi, who established the business with managing director Ian Tudor and marketing director Suzanne Randell, said that by any measure it had been “a remarkable success story”.

“Our average success rate of 87% is way above the national average. And to top it off, we have been appointed as the auctioneer for Birmingham City Council.”

Tudor said: “It helps when you are able to assemble a team of 16 specialist auction valuers and administrative staff, together with two leading property auctioneers.

“A record-breaking and award-winning team with over 250 years’ of combined property experience.”

Bassi added: “Despite all the political uncertainty in the country, and confusion over Brexit and European elections permeating the news on a daily basis, there is clearly still an appetite for investing in residential and commercial property in the UK and our auctions are concrete proof of the strong demand that exists.”

Bond Wolfe Auctions’ next sale is at its regular venue, The Holte Suite at Aston Villa FC, at 10.30am on Wednesday 3 July.

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