Auction House Leeds has turned to online social networking to boost sales in the downturn.
In what is believed to be a first. the firm will offer instant results and live information via Facebook.
Director David Pank said the service would make property auction information quickly accessible to investors and buyers.
He said: “We are using Facebook in advance of an auction to alert prospective buyers to new lots or changes to property prices or availability.
“During the auction we are using smartphone technology to instantly message the outcome of every lot. If one doesn’t sell in the room we can then release its reserve price via Facebook to interested buyers. They can make on offer on the property at the reserve price.”
The service will be used for Auction House Leeds’ next auction on 30 June.
estelle.maxwell@estatesgazette.com
