33 Margaret Street, London, W1G 0JD 
Sells Residential and Commercial Property 
Operates Across England, Wales and Scotland 
Based on 1,790 Reviews
12 Month's Data
12 Month's Data
12 Month's Data
12 Month's Data
Above Average
Savills Auction is an experienced property auctioneer established in 1855, typically running 16 auctions annually.
Savills’ auctions are multi-channel and offer bidders the opportunity to bid online, over the telephone or proxy bids in advance.
The auction house has sold 3,548 properties in the past 12 months raising £1.134 billion in sales.
Savills Auction operates across England, Wales and Scotland (with a notable presence in London).
Savills Auction operates in the residential auctions space (which takes up 53.8% of their total sales) but also has a commercial property department (taking up the remaining 46.2% of total sales). The latter auction predominantly deals with the sale of garages, healthcare facilities, land, parking sites, pubs and residential development plots (both with and without planning consent).
Savills Auction stock (both residential and commercial) is advertised on their website.
Savills Auction sells properties that range from £500 for a plot of “ransom strip” land in Bedford (MK42) to £4.92 million for a sizeable Grade II listed building and car parking area in Uxbridge, Middlesex (UB10).
The average price of Savills residential auction properties is £238,321. With the UK’s national average house price standing at £289,707, it would be fair to say that they generally cater to the mid-range section of the market.
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 Savills Auction sold auction property prices:
| Savills Auction Sale Price Range | Share of Total Auction Sales |
|---|---|
| Under £100,000 | 24.80% |
| £100,000 – £200,000 | 26.07% |
| £200,000 – £400,000 | 28.23% |
| £400,000 – £600,000 | 10.71% |
| £600,000 – £800,000 | 4.18% |
| £800,000 – £1 million | 2.21% |
| £1 million and over | 3.62% |
Savills Auctions has sold 3,548 of the 4,842 – or 74% – of the residential property lots listed in the past 12 months.
This puts them in position number 1 out of the top 50 auction houses in the UK. They are number 1 in terms of the amount of money raised in property sales at auction. However, in terms, of successful sales (lots offered vs. sold) – Allsop Residential (at 88%) would take the lead.
Having a higher percentage of lots sold is usually a sign that the auctioneer has the relevant expertise in pricing auction properties. 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.
Property Auctions News track sales data and base market share on the number of properties sold relative to other UK auctioneers.
With 3548 sales in the last 12 months, Savills Residential Auctions currently has a 16.09% share of the market, putting them in 2nd position in terms of lots sold.
It’s worth also talking to smaller and often more “nimble” auctioneers who often benefit from offering a personalised service.
Savills Auction service is reviewed across a number of online platforms including TrustPilot, Google Review and GetAgent and has an average review score of 3.9 (out of 5).
Trustpilot Savills Auction Reviews currently shows a 4.2 rating, classifying them as “Great”. One reviewer described the auction house as “Highly unresponsive and frustrating. Extremely unprofessional.”. On the other hand, a 5-star reviewer said they received “Outstanding support, answering any questions, and ensuring everything progressed smoothly.”
Google My Business Savills Auctions Reviews currently shows a 3.6 rating with one client saying Savills “provide a poor service and don’t inform you of anything without a push”. There are, however, multiple 5 star reviews by both sellers and buyers who were impressed by the service received with one client saying “the process was straight forward and would recommend anyone to use Savills”
Reviews of auctioneers must be viewed with caution as these are personal experiences and due to certain expectations. It’s always verifying the accuracy of the review and researching the track record of the auctioneers.
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Savills Residential Auctions charges the following to market and sell residential and commercial property:
Savills Residential Auctions will charge a fee of 2.5% + VAT of the auction sale price directly by the seller, usually upon successful completion. This can alter depending on the value of the property and minimum fees of £1,250 + VAT apply.
There will be an additional fee of £500 + VAT to add the property at auction charged to the seller. This fee typically covers marketing material (photographs, the floorplan producing the EPC) alongside other administrative costs completed by Savills. Note that this will be charged regardless of whether the property sells or not (although you will not need to pay the fee should you decide to relist if the sale is unsuccessful).
Buyers pay a deposit of 10% to Savills Residential Auctions at the fall of the hammer. Note that this can vary in line with the type (i.e. commercial or residential), value of the property and the type of auction.
Savills charges £250 inc VAT for properties under £20,000 and £1,900 inc VAT for over £20,000. Special rates may apply for more expensive properties. These charges are usually paid by the buyer at the fall of the auction hammer and cover the necessary paperwork that will need to be completed for the sale.
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, terms + condition 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, it may result in bidders offering lower to factor in the costs.
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Savills runs residential auctions every 4 weeks, but they may increase the frequency if there is surplus stock that needs to be sold.
As one of the well-established industry operators, Savills Auction largely operates traditional or unconditional auctions.
This means that 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 will typically pay 10% of the auction property’s sales price alongside a buyer’s premium.
The buyer then has 28 days to complete on the sale or else face financial penalties (stipulated in the auction terms + conditions). Should there be extensive delays in completion, the buyer faces the serious risk of losing the entire deposit.
No, Savills Auction specialises in traditional 28-day unconditional sales. At the seller’s request, the period between the fall of the hammer (exchange of contracts) and completion may be extended to 42 days (6 weeks). This is more common for commercial, land and other more complex transactions.
Depending on the level of interest for a given property, Savills Auction will open up the bidding on a set day or time period. These days most of their auctions are live-streamed and bidders can also participate online, by phone or proxy.
Savills Residential Auctions market properties using a mix of strategies and processes to encourage strong bidding activity on auction day.
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, and an energy performance certificate (where necessary). Savills Auction 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 Savills Auction’s website, the listing will be fed through to the major property portals including Rightmove and Zoopla. Given the auctioneer’s experience, they can make use of a “black book” of investors (and their specific criteria), property traders / well-capitalised investors in addition to using social media and email campaigns to reach potential buyers.
Savills also uses traditional and “offline” methods for the auction which may include auction sale boards, brochures and local marketing through their estate agents partners.
Savills Residential Auction does hold open houses/ viewings before the residential auction with registered buyers and these are during a set period of 2-3 days/weeks before the auction begins.
A member of the Savills Residential Auctions will typically carry out a “desktop” valuation of the property. This may be accompanied by an independent valuation by a RICS professional (a cost the seller will incur).
Note that many auction referrals come from Savills’ own estate agency operations where a professional valuation would have already been conducted. Note that the prices would need to be adjusted to appeal to the auction buyer market.
An auction buyer’s premium is an additional fee the winning bidder must pay on top of the “hammer” price. It is typically a percentage of this figure (subject to a minimum) and serves as a commission for the auction house.
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.
If the property fails to sell at auction, in most cases, Savills Auctions will enter the lot at the next auction for no additional cost). Note that you are, nonetheless, released from the contract sale should you wish to explore other options.
There are a number of reasons why properties do not sell at auction but it usually comes down to the reserve price being too high, the property needing more work than the seller perceives, legal risks amongst others. It’s worth speaking to the auctioneer and getting as much feedback as possible to readjust your selling strategy.
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