The UK’s largest auction house has dropped plans for live-streamed auctions in favour of online-only sales after the government announced an unprecedented lockdown on movement in response to the Covid-19 crisis.
Allsop said its March residential and commercial sales would now be online-only in light of the latest government advice surrounding Covid-19 and in order to further protect its staff, a small number of whom would have had to travel into its central London office.
The firm had initially planned to live stream its auctioneers offering more than 400 lots from its offices and provide sufficient staff to facilitate phone, proxy and online bids.
To ensure buyers and vendors have the time needed to adapt to an online-only auction and to ensure the smooth running of the online auctions on the day, the commercial auction will now be held on Tuesday 31 March, a day later than originally scheduled.
The residential auction will be now be held across two days, on 2-3 April (previously 31 March). This is due to the nature of online-only auctions and the large size of the residential catalogue.
Richard Adamson, partner and auctioneer at Allsop, said: “Circumstances and restrictions around Covid-19 are fast-moving and we felt it was only right and responsible that our March auctions, previously planned to be live streamed, should be online-only. The welfare of our staff, a small number whose presence would have been required, is at the forefront of this decision and they remain our highest priority.
“We have a tried and tested online-only auction platform already in place and a small delay to the auction timings will provide our vendors and bidders with the time needed to adapt to this arrangement.”
Allsop has already sold a number of lots prior to auction despite the current turmoil.
“Over the last week, vendors have been buoyed by the sale of assets prior to our March auctions – a total of over £10m across both our residential and commercial teams to date,” Adamson said. “Despite the extraordinary circumstances, there is clear demand for strong investment opportunities and an approach that enables business to be conducted in a safe and responsible way.
“We thank all of our staff, clients and buyers for their continued co-operation.”
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