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Wales Online
Wales Online
Lifestyle
Joanne Ridout

A Welsh property auction is forced to take place entirely online this week for the first time

The property auction industry is the latest area of business to be affected by the coronavirus outbreak in Wales with an imminent live auction now being online only.

Paul Fosh Auctions were due to conduct their regular sale on Thursday, March 19, at the Mercure Cardiff North Hotel.

However, with advice from the Government to limit large gatherings, the company have decided to conduct the auction completely online for the first time.

People will also be able to bid by telephone.

The company will also be offering a proxy service, where a member of the auction team will bid on behalf of a potential buyer.

A former depot building in Neath with a guide price of 220k is one of the auction lots (Paul Fosh Auctions / rightmove)
This five bed executive home in Bridgend with a guide price of £329k will be going under a virtual hammer (Paul Fosh Auctions / rightmove)

Paul Fosh, the owner of Paul Fosh Auctions, Newport, said: "We advise that if you were intending to attend the auction, please do not turn up to the hotel. We don't want anyone being put at any unnecessary risk.

"I will be conducting the online auction personally through a live stream.

"It will be just like our usual room auctions with the hammer falling in the usual way but with no-one in the room.

"This decision has been taken in light of the most recent government information regarding the virus and mass gatherings of people.

"The safety and well being of our clients are of paramount importance to us at all times."

Coronavirus: The latest news and advice

Paul Fosh continues: "Since the virus began spreading more rapidly over the last few weeks, we immediately put a contingency plan in place for this exact circumstance, so we're fully prepared and have all systems in place to ensure another successful sale."

The current catalogue of properties due to go under the hammer is already available on the company's website and all currently available lots will be included in the online auction.

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