PROPERTY AUCTION BOOST FOR BUTTERS JOHN BEE
AN estate agency and auctioneer has established itself as one of the UK's biggest players in this booming sector of the industry after a spectacularly good 2012 saw it put almost £40 million of property under the hammer.
Buying and selling at auction has mushroomed in popularity and the latest independent data from the Essential Information Group reveals that last year more than 23,000 lots were sold across the country generating more than £2.7 billion nationally.
Festival Park-based Butters John Bee sold getting on for three per cent of all auction sales with 623 lots sold out of 734 offered. Based on that conversion ratio of 85 per cent it means it is comfortably the top performer in its core area of the West Midlands and in the Midlands overall it is only just behind the leading company in terms of lots offered but it is the top for the selling ratio. In the UK as a whole it is eighth overall in terms of lots sold.
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Mike Hancock, BJB associate director, pictured below, says: "This is an incredible result for us, to be comfortably the top auctioneer in the Midlands and eighth in the country. When you consider that the big national auctioneers are companies that have offices in places from Hong Kong to New York and we're based in Hanley I think it shows that we are punching well above our weight.
"It was a very big year for auctions with a staggering 23,133 lots sold at auction realising £2,716,420,689. We have done more than our fair share of these figures with a superb 623 lots sold which means we did 2.7 per cent of all the auction lots sold in the country in 2012. Those 623 lots sold realised £39,742,100 in sales, a fantastic increase from our £29,676,211 realised in 2011.
"In our core region, the West Midlands, based on our number of lots offered and sold we are comfortably sitting in the number one spot and in the Midlands overall we are number one on sales, which is really where it counts, as our superior selling rate of 85 per cent puts us ahead of the rest.
"These numbers of lots sold again impress in the national figures as we sit a fantastic 8th in the country based on the numbers of lots sold, a very impressive result for us given those few ahead of us in the list of over 350 auctioneers in the country contains such national and international names as Eddisons, Savills, Barnard Marcus and Allsop. We can be very proud of our standing and the company we are keeping.
"So on the figures that really count, how many lots actually sold, we are number one in the West Midlands, number one in the Midlands and number eight in the country - it just proves that a company in Stoke-on-Trent can be as good anyone!''