Paul Fosh Auctions is number one in the charts in Wales for the tenth year in succession.
The Newport based auction house has achieved this unprecedented achievement in the national auction league by selling the most properties at the highest combined value in 2014.
The leading property business has maintained its dominance in this intensely competitive industry in Wales and also notched up a strong position in the UK rankings.
Paul Fosh Auctions sold 357 properties out of 463 lots offered in the 12 months to December 2014 with a total sales value of £20,822,700 at its eight auctions.
The reputable annual auction sales chart, a highly regarded guide within the industry, is compiled by UK industry experts the Essential Information Group (EIG) and published in association with industry ‘Bible’ Estates Gazette.
Seel & Co, of Cardiff, came second in the rankings with 201 lots sold from 230 offered for a total of £16,800,050 at its seven auctions and John Francis, of Carmarthen, came third with 161 sales from 186 lots offered, totalling £13,609,200, at its 10 auctions.
The EIG chart shows that the total number of sales at auction in Wales in 2014 was 1,326 from 1,744 lots offered returning a combined value of £106,755,554 at 136 auctions held.
Paul Fosh Auctions Managing Director Paul Fosh said: “The past 12 months were tough however I am thrilled with the excellent results our team have delivered, for the range of clients that we serve, over that period.
“The entire Paul Fosh Auctions team worked tirelessly first to get the stock into the catalogue and then to do their very best to get these lots sold at auction. Paul Fosh Auctions sold almost a quarter of all the properties in Wales sold at auction during 2014 which is something about which we can and do feel proud.
“Auctions are becoming increasingly popular among a range of buyers from speculators to investors and also, increasingly, first time buyers. A better knowledge about buying at auction has also been kindled by increased exposure on TV.”
Mr Fosh said the continued economic uncertainty means that it is as important as ever that a property placed at auction is priced correctly for it to achieve a sale.