Clive Emson launches online auctions

Friday 23 September 2016

Owners of land and property across England and Wales are now able to sell online through a new digital service launched this month by the largest land and property auction house in the South.

Clive Emson Auctioneers Online complements the firm's live auctions held every six weeks at five venues from Essex to Cornwall.

Lots from the property listings are sold upon the 'fall' of the electronic gavel, with bids placed via smartphones, other handheld electronic devices and desktop/laptop computers.

Sellers pick a reserve price, a finishing date and time which suits them.

Bidders, who must first undergo statutory anti-money laundering checks, can download each lot's legal documents, then make offers in the run up to the cut-off date and time.

Once the clock has reached zero, the highest bid is accepted if it is above reserve.
As in a live auction, the fall of the gavel means immediate purchase and exchange, with completion within 28 days and all of the legal responsibilities that entails.

To further benefit sellers, there is a time extension of 15 minutes if there is a flurry of bids in the last five minutes to the original cut-off time. This deters multiple bidders from holding back until the last moment.

James Emson, Managing Director, said: "The online auction platform means we can reach out to vendors and buyers across England and Wales who cannot make our live auctions and it also gives everyone peace of mind because we are a well-regarded, trusted market leader with 27 years' experience.

"At the heart of our new digital service, Clive Emson Auctioneers Online, is transparency - everyone knows what is going on at the click of a button, 24/7.

"The online listings mean vendors have the flexibility to sell their property at a date of their choosing and they can keep tabs on the bidding process from where they are based.

"There are also sellers who simply don't want to go down the private treaty route because they prefer our fast, friendly and professional service.

"From a buyer's point of view, the listing means they have access to auction properties, with income or sell-on potential, which were previously unknown to them due to geographical restrictions which cannot be avoided with live auctions.

"There can be no doubt that the wind is strengthening with online property, so it makes sound sense to increase our share of the digital market while continuing to grow our popular live auctions.

"This is about responding to how people want to do business - from the comfort of their smartphone.

"We anticipate keen interest from both sides of the auction process, including from 'calculator' bidders involved in portfolios of buy-to-lets and ground rents, where geography is not a strategic factor.

"Internet bidding is already part of our commercial DNA here as we provide a remote bidding service for our live auctions; the online listings are a natural progression of this service, taking in England and Wales and not just the regions we're well established in.

"Inevitably, comparisons will be drawn with eBay - there are similarities but there would be logistical difficulties somewhat in parcelling up a house and have it couriered to the buyer!

However, there is one difference - there is a legally binding contract and deposit taken immediately with the Clive Emson model. We share the same philosophy as eBay - successful outcomes for seller and purchaser."

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