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Auctions Market Roars Ahead

LONDON- The auction market continues its irresistible rise. Allsop & Co's December commercial auction saw 197 lots sold for a total of GBP111.54 million ($178.87 million).

By Charlie Jacoby | Updated on December 27, 2002

LONDON-It was another exceptional result for the commercial auctions in December as 197 of the 225 lots offered by Allsop & Co found buyers. raising a healthy £111.54 million ($178.87 million). Auctioneer, Duncan Moir, was delighted with the result. “Quite apart from the excitement of breaking through the £100 million barrier for the 4th time this year, the other milestone passed was the year’s sales total, which now stands at a remarkable £608 million – compared with last year’s total of £431 million,” he said.

Highlights included largest lot in the room a vacant freehold on Crawford Place, London W1, offered by receivers Messrs Gershinson & Morgan which sold at £3.15 million ($5.05 million). Some 31 lots sold in excess of £1 million ($1.6 million), and two of them sold for more than £3 million ($4.8 million).

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