Savills Auctions -- Auction House Guide

Overview

Savills Auctions brings over two decades of property auction experience to buyers seeking opportunities across the UK market. Operating from their Margaret Street headquarters in London's West End, they've carved out a particularly strong reputation in two key areas: repossessed properties and land sales. This focus makes them an especially valuable resource for investors looking to acquire distressed assets or development opportunities at competitive prices.

What sets Savills Auctions apart from many traditional auction houses is their commitment to remote bidding only. Rather than hosting packed auction rooms, they've streamlined their process to accommodate online bidding, telephone participation, and advance proxy bids. This approach has proven particularly effective for their specialist areas, as repossession sales and land transactions often attract investors from across the country who appreciate the flexibility of remote participation.

With auctions taking place multiple times each month, Savills Auctions maintains a consistent flow of opportunities across residential, commercial, development, and land categories. Their established presence in the market, combined with their specialisation in repossessions, positions them well for investors seeking properties with potential upside or developers looking for land parcels that larger auction houses might overlook.

Key Facts

• Location: 33 Margaret Street, London, W1G 0JD
• Auction Frequency: Multiple times per month
• Property Types: Residential, Commercial, Development, Land
• Bidding Format: Remote only - online, telephone, or proxy bids
• Registration: Online registration required
• Specialities: Repossessions, Land
• Experience: Over 20 years in property auctions
• Buyer's Premium: Check current schedule on their website

How to Register

Registering with Savills Auctions follows their streamlined online approach. You'll need to complete their online registration process before you can participate in any auction. This typically involves providing identification documents, proof of address, and demonstrating your ability to complete a purchase.

Given their focus on repossessions and land sales, Savills Auctions will likely require evidence of funds or mortgage arrangements, particularly for higher-value lots. The remote-only format means they place extra emphasis on verifying bidder credentials in advance, as there's no opportunity for face-to-face verification on auction day.

Once registered, you'll have access to bid online through their platform, arrange telephone bidding for specific lots, or submit proxy bids with your maximum amounts in advance. Each method requires registration completion before the auction begins, so don't leave this to the last minute.

What to Expect

Savills Auctions' remote-only format creates a different dynamic from traditional auction rooms. Without the theatre of a packed salesroom, bidding tends to be more measured, though competition for quality lots remains fierce. Their specialisation in repossessions means you'll often find properties with compelling backstories – former family homes, commercial premises that couldn't service their mortgages, or development sites where previous plans fell through.

The land element of their portfolio deserves particular attention. While many auction houses treat land as an afterthought, Savills Auctions' expertise in this area means they often present opportunities that others miss. These might include small development plots in established areas, agricultural land with potential for change of use, or surplus institutional land that's been overlooked by the market.

With auctions running multiple times monthly, lot sizes vary considerably. Some sales focus heavily on their repossession speciality, while others might emphasise land opportunities or mixed portfolios. The remote format means bidding can continue at a steady pace without the natural breaks that occur in traditional auction rooms.

What is Savills Auctions's buyer's premium?

Savills Auctions charges a buyer's premium on successful purchases, though the exact rate isn't specified in their basic information. Most UK auction houses charge between 1.2% and 3.5% plus VAT, with the rate often varying based on lot value or property type. Given their specialisation in repossessions and land, their premium structure may reflect the additional work involved in marketing distressed assets. Check their current auction particulars or contact them directly for specific premium rates, as these can vary between sales.

How do I register to bid at Savills Auctions?

Registration takes place entirely online through Savills Auctions' website. You'll need to provide standard identification documents, proof of address, and evidence of your ability to complete a purchase. Given their remote-only format, they place particular emphasis on verifying bidder credentials before auction day. The process typically takes a few working days, so register well in advance of any sale that interests you. Once registered, you can bid online, arrange telephone bidding, or submit proxy bids for future auctions.

What types of properties does Savills Auctions sell?

Savills Auctions handles a broad spectrum including residential, commercial, development opportunities, and land. However, their particular expertise lies in repossessions and land sales. The repossession element means you might find former family homes, commercial premises, or development sites where previous financing arrangements failed. Their land speciality covers everything from small development plots to larger agricultural parcels, often including opportunities for change of use that other auction houses might not pursue as aggressively.

Can I view properties before Savills Auctions sales?

Most auction houses, including Savills Auctions, arrange viewing appointments for their lots before sale day. Given their specialisation in repossessions, viewing arrangements can sometimes be more complex than with conventional sales, as properties may be vacant or require special access arrangements. Contact them directly to arrange viewings, and factor in extra time for due diligence, particularly with repossessed properties where full information might not be immediately available.

How often does Savills Auctions hold sales?

Savills Auctions conducts sales multiple times each month, providing regular opportunities for both buyers and sellers. This frequency, combined with their specialisation in repossessions and land, means they maintain a consistent pipeline of opportunities. The exact timing of sales varies, so check their website or register for their mailing list to stay informed about upcoming auctions that might suit your investment criteria.

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