What is an Unconditional In Room Auction?

Unconditional Auction (sometimes called a traditional auction) is where a collection of properties are offered for sale in an auction room with contracts being exchanged to the highest bidder on the fall of the gavel. The auctions team bring together all entries into a catalogue, actively promote the properties, host open house viewings where possible, get legal packs created and made available, and cultivate interest from as many buyers as possible. Competitive bidding in the room will usually see the property sell at a price above the seller’s reserve.