Purplebricks quietly sneaks into the online auction sector

There's a new player in the online real estate auction sector and it's surprisingly enough, Purplebricks

Purplebricks has recently partnered with two online auction providers, including an online company. To launch off this partnership, eight properties are to have their online sales closed in the same day, with the other online auctions due to close as soon as the day after.

The deal with the Go To Group follows that with Auction House, which sells in traditional ‘real’ venues.

Historically online, Purplebricks' property that has gone to the auction sales room which was advertised with a buyer’s premium of £2,200.

Most recently, a property currently listed on Purplebricks Online Auctions, is expected to attract a non-refundable buyer’s premium of £4,800 plus £354, a total of £5,154.

This is in addition to the final price, and takes the property off the market while the buyer has 56 days in which to complete.

Like the January 2018 deal with Auction House, the new tie-up has not been formally announced or publicised, although Purplebricks has confirmed it.

A spokesperson for Purplebricks stated: “Offering an online auction service adds further value and choice for our customers and we see it as a great addition to our complete estate agency service.”

Roger Lake, founder at Auction House, said: “The working arrangement whereby Auction House sells room auction lots for Purplebricks’ clients is still in place and functioning well.

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