How much less to to gain if you sell at auction?

[Helpmesellmysoul]

Out of curiosity, if you were looking to sell your home and went for auctioning how much less would you expect to get? Researching online but big variation on percentages.

Hoping to sell soon, wondering if auctioning would be a better route then via standard estate agents. Hoping to see if any similar experiences?

Well it can be a bit random can't it - depends on who turns up on the day, how much competition there is.

Maybe a better question to ask would be how many auction properties actually beat the reserve and sell (the reserve being the minimum price anyone is willing to accept). Beating the reserve to me indicates a success for the seller as they sold the house at the minimum they were willing to accept. The more they beat the reserve, the more success the seller has.

The advantage of auction is generally that you get a quick sale (provided you are willing to set an appropriate reserve). The disadvantage is at least at the moment you are probably only going to get clued up people bidding who are looking for a bargain. But that is probably true of the conventional market too - the stupid money is fast exiting.

I don't think auction is the route to get the best price for a property if you are a seller. But it is the route to get a guaranteed minimum price you are happy with in a short timescale (provided, again, that the reserve is set appropriately).

At least 30% normally.

I would market it cheaply first, say 5 to 10% under the lowest agents valuation. If your lucky that might be enough to get you two or more competing buyers. At auction it could be anywhere from 10% to 30% less. More likely toward the 30% as previous poster remarked.