The traditional auction format is being challenged thanks to the success of “Ebay-style” timed online alternatives. They appeal to buyers and sellers as they offer flexibility and transparency.

Sellers have the opportunity to sell at a time convenient to them and registered buyers submit bids before the end of the auction period. Successful bidders are required to make a payment immediately at the end of the auction.

The new style proceedings have been embraced by leading property consultancy Greenslade Taylor Hunt during the pandemic and have proved particularly popular with vendors of “small, unique or unusual” properties reports Graeme Biffen MRICS, Partner with the firm.

Recent successful sales have included:

- 1.34 acres of woodland near Reading. Sold for £37,500.

- Former borehole pumping station near Crediton, - 0.21 acre site with disused pump building. Sold for £139,500.

-  A stone ruin near Trenchford Reservoir, Bovey Tracey - 0.19 acre site in middle of wood.  Sold for £42,600 (incl. VAT).

Graeme said: “It’s a great way to sell, maximising interest and value particularly for small or unusual bits of land or property. It’s an entirely transparent process and we see interest and bids from people all over the country and abroad.”

The vendor also has discretion to put some or all of their selling costs on to the buyer if they choose.

In addition the firm offers “Livestream online auctions” for those who prefer to have the virtual proceedings conducted by an auctioneer in the conventional manner.

Demand for all types of small rural assets has never been stronger so now is the time to consider selling.

Please contact Graeme Biffen on 01392 908777 (graeme.biffen@gth.net), or Justin Lowe on 01935 415300 (justin.lowe@gth.net) to discuss the best way to market your asset.