Barnard Marcus Auctions

Barnard Marcus Auctions
  • Average Customer Reviews

    Barnard Marcus Auctions Reviews

    Based on 126 Reviews

  • Number of Properties Offered

    2,775

    12 Month's Data

  • Number of Properties Sold

    1,796

    12 Month's Data

  • Average Percentage of Lots Sold

    65%

    12 Month's Data

  • Average Price "Sold at Auction"

    £113,213

    12 Month's Data

  • Auction Seller
    Fees

    2.5% + VAT

    Above Average

Contents

About Barnard Marcus Auctions

With strong ties to its wider estate agency network, Barnard Marcus Auctions is a property auctioneer established in 1979, typically running 10 live events per year.

Barnard Marcus Auctions are multi-channel and offer bidders the opportunity to bid in-room, online, live stream, by phone or proxy.

The auction house has sold 1,796 properties in the past 12 months, raising just over £314 million in sales.

Where and What Type of Properties Do Barnard Marcus Auctions Sell?

Barnard Marcus Auctions operates across England, Wales and Scotland.

The auctioneer principally operates in the residential auctions space and their stock is advertised on their website.  Many of Barnard Marcus Auctions comes in the form of referrals via its large estate agency network.

It is also possible to occasionally access residential development and commercial-to-residential conversion projects, although it’s difficult to quantify how many of such lots Barnard Marcus sells every year.

Barnard Marcus Auctions Operate in England, Wales & Scotland

Barnard Marcus Auctions Operates Across England, Wales & Scotland

Barnard Marcus Auctions Predominantly Sell Residential Property Although it Does Assist with Commercial Auction Sales

The Auctioneer Predominantly Sells Residential Property
Barnard Marcus Auctions Operates Across England, Wales & Scotland and Predominantly Sells Residential Property

Prices of Auction Properties Sold Through Barnard Marcus Auctions

Barnard Marcus Auctions sells properties that range from £700 for a small plot of land in Maidstone, Kent (CF40) to £1.73 million for a freehold unbroken block of flats Biscester, Oxfordshire (ME17).

The average price of Barnard Marcus Auctions properties is £113,213.  With the UK national average house price standing at £289,707, it would be fair to say that they generally cater to the lower-range section of the market. The auctioneer also sells a notable number of properties (16.53%) under the 2nd property stamp duty threshold (£40,000).

Property Auction Tip

Using data from the UK’s top 50 auctioneers, the national average sales price was £149,062 for residential property auction sales over the last 12 months.

Below is a table of the spread of Barnard Marcus sold auction property prices:

Allsop’s Auction Sale Price Range Share of Total Auction Sales
Under £40,000 16.53%
£40,000 – £100,000 23.85%
£100,000 – £200,000 29.40%
£200,000 – £300,000 15.11%
£300,000 – £400,000 6.49%
£400,000 – £500,000 3.19%
£500,000 and over 5.31%

Allsop Residential Auctions – Key Facts

Barnard Marcus Auctions – Key Facts

How Successful is Barnard Marcus Auctions at Selling Properties?

Barnard Marcus Auctions has sold 1,796 of the 2,775 – or 65% – of the residential property lots listed in the past 12 months.

This puts them in position number 5 out of the top 50 auction houses in the UK.  They are also number 5 in terms of the amount of money raised in property sales at auction. In terms of the percentage of lots sold, they are positioned number 32.

Property Auction Tip

Having a higher percentage of lots sold is usually a sign that the auctioneer has the relevant expertise in pricing auction properties realistically. It also means that the auction house has well-run operational practices – including legal – to be able to progress sales efficiently within the required timeframes.

Barnard Marcus Auctions Market Share

Property Auctions News tracks sales data and base market share on the number of properties sold relative to other UK auctioneers.

Barnard Marcus Auctions currently has a 6.45% share of the market (of the UK’s top 50 auctioneers) – or 1,796 of the 27,836 properties sold at auction

Property Auction Tip

It’s also worth talking to smaller and often more “nimble” auctioneers who often benefit from offering a personalised service.

Barnard Marcus Auctions Customer Reviews

Barnard Marcus Auctions is reviewed across a number of online platforms including TrustPilot, Google Review and GetAgent and has an average review score of 3.53 (out of 5).

IamSold on Trustpilot Barnard Marcus Auctions Gets an Average 2.7 Star Rating on Trustpilot

Trustpilot’s Barnard Marcus Reviews currently shows a 2.7 rating, classifying them as “Poor”. One of the one-star reviews claims they had a “horrendous experience”. On the other hand, a reviewer gave them five stars, stating they had a “great experience buying our home.”

Savills Auction on Google Reviews Barnard Marcus Auctions Gets an Average 3 Star Rating on Google My Business Reviews

Google My Business’ Barnard Marcus Auctions Reviews currently shows a 3 rating with clients disappointed in their experience with the auctioneer with one review stating “Not to trust them”. There are, however, multiple 4 and 5 star reviews by both sellers and buyers with one stating they are “Professional and offer great communication”.

Allsop Residential Auctions on Get Agent Barnard Marcus Auctions Gets An Average 4.6 Rating on Get Agent

Get Agent’s Barnard Marcus Reviews currently shows a 4.6 rating with one of the reviewers being “extremely disappointed” with the service they received. However, many of the reviewers gave Barnard Marcus 5 stars on the platform with one remarking on the “excellent service” they received.

Reviews of auctioneers must be viewed with caution as these are personal experiences and can be influenced by unrealistic expectations. It’s always verifying the accuracy of the review and researching the track record of the auctioneers.

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Property Auction Fees

Barnard Marcus Auction Fees

Barnard Marcus Auctions charges the following to market and sell a residential property:

Auction Seller Commission

Barnard Marcus Auctions will charge a fee of 2.5% + VAT of the auction sale price directly by the seller, usually upon successful completion. Note that there is a minimum fee of £2,000 + VAT.

Auction Seller Entry Fee

There will be an additional fee of £395 + VAT to add the property at auction, charged to the seller. This charge typically covers marketing material (photographs, the floorplan, producing the EPC) alongside other administrative costs incurred by Barnard Marcus Auctions. Note that this will be charged regardless of whether the property sells or not (although, in most cases, you will not need to pay the fee should you decide to relist if the sale is unsuccessful).

Auction Buyer Deposit Requirements

Buyers pay a deposit of 10% to Barnard Marcus Auctions’ Client Account at the fall of the hammer (an effective exchange of contract). The funds will be immediately transferred to the seller solicitor’s client account until the point of completion.

Auction Buyer Administration Fee

Barnard Marcus charges buyers a minimum administration fee of £1,500 + VAT, which covers the necessary paperwork for the sale to be completed.  This fee will be higher for more expensive properties (in London, for example) or complex transactions.

Auction Legal Pack and Conveyancing Fees

There are legal fees that both parties must pay, which are independent of the auction house.

It’s generally always recommended for a solicitor (conveyancer) to prepare an auction legal pack. This is because the buyer will effectively be committing to purchase the property at the fall of the hammer and would therefore need as much background information as possible.

The legal pack will typically contain: Title Register (Deeds), Title Plan, conveyancing searches (buyers may choose to take out specific indemnity insurance policies), latest Energy Performance Certificate (EPC), Terms + Conditions of sale, Special Conditions of Sale, completed Law Society Forms (TA6, TA10, TA7, LPE1, LPE2), Leasehold Management Pack, Tenancy Related Information.

As a seller, you may choose to pass these on to the buyer, which will be written into the Special Conditions of the auction contract. Bear in mind, depending on how “in demand” the auction property is, this may result in bidders offering lower to factor in the extra costs.

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Frequently Asked Questions (Property Auctions)

Frequently Asked Questions About
Barnard Marcus Auctions

How often are Barnard Marcus Auctions events run?

Barnard Marcus Auctions runs residential auctions every 4-6 weeks, but they may increase the frequency if there is surplus stock that needs to be sold.

What type of auction is it?

As one of the well-established industry operators, Barnard Marcus Auctions mainly operates traditional or unconditional auctions.

This means there is a marketing and viewing period before the auction, and when the online gavel falls, contracts are immediately exchanged. At this point, the buyer typically pays 10% of the auction property’s sales price alongside a buyer’s premium (although Barnard Marcus calls it an administration fee).

The buyer then has 28 days to complete the sale or else face financial penalties (stipulated in the auction terms + conditions).

At the seller’s request, the period between the fall of the hammer (exchange of contracts) and completion can be extended – typically to 42 days (or 6 weeks).

Does Barnard Marcus offer modern method auctions?

In addition to traditional 28-day unconditional sales, Barnard Marcus does offer modern method auctions.

Broadly described as a mix between estate agency (private treaty) sales and 28-day auctions, buyers still pay the non-refundable administrative fee at the fall of the hammer.  However, the exchange of contracts only occurs after 28 days with a further 28 days to complete on the sale (i.e. 56 days in total once the bid is won).  Sellers often choose this route as, with buyers having more time to organise finances, offers tend to be higher.

How is the property valued by Barnard Marcus Auctions

A member of the Barnard Marcus Auctions team will carry out a desktop valuation of the property and will often speak with the referring estate agency partner. They may also use an independent valuer from the Royal Institute of Chartered Surveyors if the transaction is complex.  The cost is usually incurred by the seller.

It’s worth noting that Barnard Marcus Auctions comparatively low success rate would suggest that they over price property stock.  It’s therefore worth doing your own research (which is easier than ever these days).

How long are Barnard Marcus bidding windows?

Depending on the level of interest for a given property, Barnard Marcus Auctions will open up the bidding on a set day or time period. Most of their auctions are live-streamed and bidders can also participate online, live stream, by phone or proxy.

How does Barnard Marcus Auctions market the property?

Barnard Marcus Auctions market properties using a mix of strategies and processes to encourage strong bidding activity on the auction day or timeframe.

Property Auction Tip

Regardless of whether you’re buying or selling at auction, remember to take the time to understand how everything works from start to finish to avoid any misunderstandings.

Upon signing up, the auctioneer works with the seller to organise high-quality photos, floorplan, an energy performance certificate (where necessary). Barnard Marcus Auctions will then prepare the listing in line with the relevant guidance – this will include the terms + conditions (typically in line with RICS Common Auction Conditions) and detailed information regarding the property and the auctioneer’s full contact details.

In addition to Barnard Marcus Auctions’ own website, the listing will be fed through to the major property portals including Rightmove, Zoopla and On the Market. Given the auctioneer’s experience, they can make use of a “black book” of investors (and their specific criteria) as well as use social media and email campaigns to reach potential buyers.

They use traditional and “offline” methods for the auction which may include auction sale boards, brochures and local marketing through their estate agency partners.

Do Barnard Marcus Auctions hold viewings of their properties?

Barnard Marcus Auctions hold open houses/ viewings with registered buyers before the auction. These are held 3 to 4 weeks before the auction begins.  Viewings are usually managed by Barnard Marcus’ network of estate agents.

Will I have any extra tax obligations when buying through Barnard Marcus Auctions?

Remember also that the premium will be added to your gross stamp duty calculation as it’s deemed as being the total cost of the property.

What happens if the property doesn’t sell with Barnard Marcus Auctions?

If the property fails to sell at auction, Barnard Marcus Auctions will often agree to extend the contract or enter the lot at the next auction for no additional cost.

Property Auction Tip

Sellers should always review feedback to find out why it didn’t sell on residential auction. It might be the case the reserve was too high or insufficient interest. It’s worth reviewing the price and type of auction.

What type of auction properties does Barnard Marcus Auctions sell?

Barnard Marcus Auctions runs monthly property auctions and offers non-conditional and conditional online auctions.

Barnard Marcus Auctions

Lists of upcoming auction events from the auction house: