Property auction
Savills Auction Guide: A Seller’s Deep Dive
Selling through a national auction house works on the traditional method: your property is entered into a catalogue with a guide price and reserve, marketed for a few weeks, and on the day the fall of the hammer creates a binding contract with completion usually in ~28 days. You pay entry and commission fees, and the price is not guaranteed. Verify current terms directly with the auction house.
What is your property worth?
Get genuine offers from checked & vetted buyers.
- Bindingat the hammer
- Reservethe real minimum
- 7-28 dayscash, guaranteed
How traditional auction works
You set a reserve, the lot is catalogued and marketed, and bidding happens live (or live-streamed). The highest bid above reserve wins and is legally committed at the hammer, completing in about 28 days.
Fees, reserves and certainty
Expect entry/marketing fees and commission, and accept that if the reserve is not met the lot does not sell. Auction suits unusual, tenanted or quick-completion properties where the binding sale is the appeal.
The faster, fee-free option
Auction is binding but not instant end-to-end, and fees apply. A cash sale is fee-free, the figure is fixed up front, and completion is 7–28 days. Compare before committing to a catalogue date.
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Written & reviewed by Lisa Hayes, Founder
Lisa Hayes is the founder of Ready Steady Sell and an independent UK home-selling expert with over a decade helping homeowners weigh cash house buyers, property investors and the wider fast house-sale industry — without pressure or hidden fees. Every guide is reviewed for accuracy under our editorial standards.
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Frequently asked questions
Straight answers, no sales talk
How long does it take to sell at auction?
About 28 days to complete after the hammer falls, but preparing the legal pack and waiting for the right sale date adds weeks — so end-to-end it can be slower than a cash buyer.
What fees do you pay to sell at auction?
Typically entry/marketing fees plus commission, and the reserve may not be met. Confirm current figures directly with the auction house.