SDL Auctions’ latest sale in Birmingham has fallen short of its year-on-year total.
The auction house, formerly known as SDL Bigwood, achieved just under £9.2m from a 109-lot catalogue, reflecting a success rate of 85%. The equivalent auction in 2016 raised £12.8m from 137 lots.
SDL Auctions, which has recently rebranded as part of its plans to expand nationally, raised a combined £11.6m from its two auctions in Birmingham and Nottingham on 4 May - down on the previous year’s total of £15m.
However, at the Nottingham auction house - previously SDL Graham Penny - £2.4m was raised from a 38-lot catalogue, a 60% success rate - a slight increase on the venue’s £2.3m result from 36 lots this time last year.
The May 2017 total is also almost £5m short of the £17.4m achieved at SDL’s most recent round of auctions in February.
Despite the fall, Gurpreet Bassi, partner and head of SDL Auctions Midlands, said that “many vendors were very pleased with the results”.
“There were some excellent results for local authorities and residential property continues to be very popular with the buying public,” he added.
The next SDL sales in Birmingham and Nottingham will be held on 6 and 7 July respectively.