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In-house auction clearance rates higher

7 July 2017

Cooley Auctions managing director Damien Cooley revealed that the clearance rate for their in-room auctions was higher compared to on site in June, with the weather playing a key factor.

Out of 479 residential and commercial auctions performed by the group in June, the clearance rate hit 71% for in-rooms, as opposed to 69% for on site at individual properties.  

This is in contrast to June 2016 when the in-room clearance rate was 70% and on site was 74%.

It appears that the weather has a big effect when it comes to an auction’s success on-site. During the warmer months, for example February, the clearance rates on site had an 82% success rate compared with 76% in rooms. 

Damien said: “In rooms you don’t have the effect of weather because you’re in a professional Environment. 

“You get the auctioneer you choose and you don’t have to compete with Saturday traffic, or kids’ sport. Lots of people are consumed with other things like familytime on the weekend.

“You can control the environment when the auction is conducted in rooms. It’s very hard to be in control when you’re on site. For example you might be on a really busy road with noisy traffic or it might be difficult to get a park.”