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Looking to sell your property fast but not sure who to trust? Complete our contact form
Critical Analysis:
When you’re selling your property, it’s of vital importance to know who you’re working with.
In here, you’ll find everything you need to know about Venmore Auctions and whether you should trust them to sell your property quickly.
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Auction houses such as Venmore Auctions offer a quick and easy way to sell your property. This sits somewhere between selling at full price with an estate agent, which can take six months or more, and selling to a fast cash buyer, which will be quicker than an auction sale, but may get you a lower price.
Auctions will charge commission, plus you will also have to pay legal fees for the preparation of documents both prior to the listing and following the sale. There is no commission or legal fees to pay on a quick cash home sale.
Auctions can generate a higher selling price for your property if there is competitive interest, however there are no guarantees. You may not sell at all if there is no bid matching your reserve price and you may have to withdraw your property or postpone the sale. This can delay your sale until the next auction or beyond. A cash home buyer may not give you as much as you could get at an auction, but your sale will be swift and guaranteed.
Company
Established in
1849
Members of RICS
Not shown
Members of Propertymark
Not shown
Trading standards approved?
Yes
Members of TPO
Yes
Registered with ICO
Yes
How often are auctions held
Every 6-8 weeks
Online auctions
Yes
Fees
2%+VAT (min £1,800 inc VAT) £300 + VAT entry fee
Complaints procedure
Yes
Customer service
4.9 / 5
Google rating
4.9 / 5 (43 reviews)
Venmore Auctions is Liverpool’s oldest and only remaining auction house. The deal with residential and commercial property in Liverpool, Southport and on The Wirral. They are part of the Venmore Group which also includes long established local estate agents.
4.9 / 5
(source: Companies House)
Venmore Auctions is part of the Venmore Group on Merseyside, which comprises three local estate agencies in Liverpool, Southport and on The Wirral. They boast over 170 years’ of experience in the local property market with unrivalled local knowledge and expertise.
Venmore Auctions deal with a wide range of vacant and tenanted residential and commercial properties, investment sales, portfolios, land and ground rents, including repossessed homes and commercial properties. They hold auctions every six to eight weeks, with approximately seven main auctions per year.
They have premises just outside Liverpool city centre, but most auctions are now held online so you can bid from home, from the office or even on holiday.
Venmore Auctions are local experts and know the Merseyside area well. They have extensive experience, with 170 years of history, yet they have embraced modern technology, with online auctions and virtual viewings of major properties. They also use the main property portals to promote their auction properties, with listings on Rightmove and OnTheMarket.
As part of a the wider Venmore Group, they are able to offer sellers a number of options, including estate agency sales and lettings as well as a full range of auction services. They are Liverpool’s oldest and only remaining property auction house, and as such have a strong reputation in the city.
However, Venmore Auctions are only a local company, and as such will only be of interest to buyers and sellers in and around Liverpool. Unlike some auction houses, they do not have a national reach or national exposure, although their online auctions can be accessed from anywhere in the world.
The Venmore Auctions website does not show the logo for Propertymark or any of the organisations, such as the National Association of Valuers and Auctioneers (NAVA) that make up the Propertymark brand.
By using a Propertymark Protected member you are guaranteed to be consulting with a professional who will give you up-to-date advice and guidance. Propertymark regulates members’ activity according to a code of conduct and rules, with disciplinary action for instances of non-compliance.
NAVA Propertymark members adopt RICS’ Common Auctions Conditions for auctions of real estate in England and Wales. These are designed to set a consistent practice for auctions across the industry.
However, they may be NAVA and Propertymark members, but simply not list this on their website.
Yes, Venmore Auctions are members of the Property Ombudsman – a government-approved trade body that protects property sellers. This means that they have also agreed to also work to TPO’s strict code of practice.
Because Venmore Auctions are members of the TPO, customers are able to raise complaints with TPO when they have been unable to find resolution directly with the auction house. TPO offers neutral, independent adjudication on disputes via a complaints enquiry telephone number 01722 333306 or by completing a form online on the TOP website.
Venmore Auctions do not state that they are regulated by the Royal Institute of Chartered Surveyors, however they may simply not have featured this on their website.
Under RICS rules, auctioneers selling real estate (incorporating Common Auction Conditions) must ensure that clients are provided with terms of engagement that are fair and clear. These should meet all legal requirements and relevant codes of practice including reference to complaints-handling procedures and, where it exists, an appropriate redress scheme.
Venmore Auctions do offer clients clear terms and instructions and do have a complaints scheme.
Venmore Auctions (as BFL Auctions Ltd) has been registered with the Information Commissioners’ Office since 2009.
The Information Commissioner’s Office (ICO) is the UK’s independent regulatory body set up to uphold information rights. The ICO also governs all forms of data collection and advertising intelligence. The ICO has a Free Online Checker where you can verify whether a company is registered with them or not.
The Venmore Auctions website has both a privacy policy and a cookie policy. This suggests that the company is GDPR compliant and takes its data collection and storage responsibilities seriously according to established codes of practice.
As with most websites, you need to be aware that using the site will result in cookies being placed on your device. These will include cookies that are geared towards advertising. The Venmore Auctions cookie policy states that ‘these types of cookies are used to deliver adverts which will be more relevant to you and your interests’.
To avoid unwanted advertising, you should always be very careful about what information your disclose and what cookie policies you agree to. Never simply click your acceptance of a cookie policy just to get faster access to the website. You should always read any cookie / data use agreements carefully to be clear about your options.
Venmore Auctions have been trading in Liverpool since 1849 and are Liverpool’s oldest auction house. This kind of longevity speaks volumes about how they do business and how they treat their customers.
We use the ‘over/under 5 years trading time’ as a rule of thumb to gauge whether a company is an established entity with a lot of experience under their belt, or just a newly founded business that may not have the expertise or reputation you can rely on. Venmore Auctions have far exceeded this benchmark and have proved that generations of Merseyside property owners have trusted them, and therefore so can you.
Venmore Auctions hold around seven property sales online every year, with auctions held every six to eight weeks. Auctions are held online, with bidders able to take part online from anywhere in the world. You are not able to attend most auctions in person.
To place a bid, you need to have registered in advance and provide compulsory information such as proof of identity and your source of funds, in order to comply with money laundering regulations.
While auctions are held online, Venmore Auctions still follow the rules of the traditional auction method, with bidders placing bids competitively at the time until the virtual hammer comes down. The sale is then binding with winning bidders obliged to exchange contracts and pay a 10% deposit immediately and complete the sale within 28 days.
Venmore Auctions charge a seller’s fee of 2% + VAT. This is lower than the standard 2.5% + VAT often found in the auction sector, however, their minimum charge of £1,800+ VAT is slightly higher than the average of £1,500+VAT.
Sellers also have to pay a non-refundable deposit of £300+VAT upfront to enter an auction, and this will not be returned if the property is withdrawn or goes unsold. This is also below the standard fee charged by many auction houses.in the auction sector. There is an additional contract documentation fee of £100 + VAT payable on exchange of contracts.
Naturally, the fees will vary depending on a number of factors, including the type of property, the property value etc. Prospective sellers are advised to contact the auction house directly for an up to date quote on your property or properties.
Looking at their most recent auctions (at the time of writing) Venmore Auctions success rate varies quite considerably. Their July auction had 56 properties, of which 20 sold, with just 9 sold at auction (sale rate 35%). Their May auction had 44 properties of which 26 sold, with just 6 at auction (sale rate 59%).
The number of properties that sold prior to auction illustrates the advantage of using an auction house linked to an estate agency chain, as properties are not solely reliant on the auction itself.
Not all properties sell, even with the best auctioneers. Venmore Auctions’s average success rate still leaves as many as two in three homes unsold, and with six to eight weeks until the next auction, this can cause a significant delay in selling your home. This is where a quick cash sale can prove more dependable than the vagaries of an auction, even though an auction may deliver a higher price.
We didn’t find anything that raises suspicion during our thorough research of Venmore Auctions. Our investigators sifted through all of the data and legal records of Venmore Auctions and BFL Auctions Ltd, and everything was clean.
However, we’ll redact this paragraph at the first glimpse of dodgy practices.
We never stop researching and our unbending commitment to excellence doesn’t waver. This paragraph is only valid up until the ‘Last Updated’ date of this review, which can be found at the top of this page.
As far as we are aware, Venmore haven’t received any additional awards or prizes.
There’s nothing more we could add.
To assess the overall user experience (UX) of VenmoreAuctions.co.uk we first analysed their website for ease of use and intuitiveness.
The Venmore Auctions website is simple and straightforward and provides information about the company as well as useful guides to the auction process from both a buyer’s and a seller’s perspective. The site also lists previous auctions so sellers can see the success rate and the prices that previous properties have sold for.
The site has a clear call to action with a click through button for customers wanting to sell, along with a local telephone number. There is also an online chat function that will answer any immediate questions or queries.
The site also provides video tours of properties in their upcoming auctions, giving prospective buyers a look inside.
We calculated their First Response Time (FTR) by messaging them at approximately 10 AM on a non-holiday weekday (on a Monday to be exact) and used a stopwatch to estimate how long it took them to respond.
Venmore Auctions responded in 1 minutes 45 seconds.
Which is much faster than the industry average. And a fast FRT is something we consider highly important, especially in this sector.
A faster response time suggests that the auction house is better equipped to deal with customer queries.
And if they’re better equipped to deal with customer queries, then it means they’re investing their resources where it matters the most.
We also asked if they offer some sort of ‘Client Satisfaction Guarantee’, and if yes, what would that guarantee consist of.
Venmore Auctions don’t offer a Client Satisfaction Guarantee but with 170 years behind them, they must be keeping their customers happy enough!
Most reputable companies will have a formal complaints procedure on their website, where clients can express any disagreements, issues or just plain dissatisfaction with the overall service.
Venmore Auctions does have a published complaints procedure on their website. This details how to make a complaint, who to contact and the timescale in which you can expect a reply.
The complaints procedure has two levels of investigation, including a review by senior staff. If this still does not resolve your complaint to your full satisfaction, you can refer the matter to the Property Ombudsman, since Venmore Auctions is a member. The Property Ombudsman service provides independent and neutral mitigation with binding resolutions.
A legitimate auction house that does what it promises shouldn’t have a problem letting you speak to their past customers.
Of course they need to have the permission of the individual involved and provide some kind of proof that it is a genuine past client of theirs.
We strongly encourage all our readers to ask to speak to a past client.
In this section, we’ll discuss what the public thinks of Venmore Auctions and what online reviews the company has received.
Keep in mind that online reviews can be easily faked. The company in charge might hire fake review writers to write positive reviews. Or on the other hand, their competitors might hire fake review writers to write negative reviews and tarnish the said company’s reputation.
Also, social media followers can be artificially inflated.
That’s why we deem this section as purely anecdotal.
This is an excellent google rating from a significant number of customers and reflects a very satisfied and well served customer base.
We didn’t find anything suspicious with Venmore Auctions’ social media or online presence, nor with their customer reviews.
We also didn’t find anything suspicious with their domain rating and backlink profile nor their unique monthly search traffic.
We didn’t find anything suspicious with Venmore Auctions’ social media or online presence, nor with their customer reviews.
We also didn’t find anything suspicious with their domain rating and backlink profile nor their unique monthly search traffic.
Venmore Auctions is one of the oldest auction houses in the country. They specialise in the Merseyside area and while they serve this well, they will be of little use to anyone outside of this area.
They hold seven auctions per year, all online, however, bidders can get inside the properties via video tours, which are a handy modern addition from such an established traditional firm.
Venmore Auctions fees are slightly lower than average, although the minimum is slightly higher. Their success rate is at or just below the average for the sector, although they do have the benefit of estate agents as part of the group, and this helps many properties to sell pre-auction.
Venmore Auctions do not state that they are members of any of the five founder organisations of Propertymark, however, they are members of the Property Ombudsman. That said, it is reasonable to assume that such a well-established company would be Propertymark members in some way. They are registered with the ICO and they have a published complaints procedure.
On balance, Venmore Auctions offer the reassurance of a well-established local name, with a reasonable success rate and high Google rating, although they only serve a limited area.
We will be continuously updating this review as we do with all of our other content. If Venmore Auctions decide to alter, amend or modify something, then we’ll make sure to adjust our critique and score accordingly.
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Venmore Auctions is just one of the many fast home-buying companies in the UK.
In order to make sure you choose the right one, it’s best if you compare them all.
Look at their strengths & weaknesses, their pros & cons and make an informed decision.
It’s essential to know you’re in safe hands, that’s why we’re here to help.
Use our company comparison table to find a reliable and trustworthy service, and decide whether expediting the sale of your property is the right thing for you.
This review is being constantly screened by our investigator team and will be corrected in line with the emergence of new evidence.
If a company contacts us with a genuine and verifiable piece of information which supports their cause, then we’ll immediately redact the review and point to the new information.
On the other hand, if we discover that a company which we’ve previously praised for a certain industry trait, starts to dabble in dodgy practices, we’ll also redact the review immediately.
We’ll point to our new findings and we’ll adjust the table metrics and scores accordingly.
For this reason, make sure to take notice of the ‘last updated’ date at the top of this page.
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