Major family-owned auctioneer grows profit amid expansion

One of the UK’S largest auction houses – which has a presence in Scotland – has brought the hammer down on “significant” growth in turnover and profit in 2018.

Wilsons Auctions has seen its turnover increase by 15 per cent to £28.1 million while its operating profit was up by 6 per cent to £2.9m. The family-owned firm, which was formed in Northern Ireland in 1936 and has a site in Dalry, Ayrshire, now holds more than 2,000 auctions a year, selling everything from cars and vans, plant and machinery and property to general goods, as well as luxury items including planes, yachts, gold bars, supercars, designer goods and watches. This year it also expanded its offering to cryptocurrency.

It has signed new contracts with government agencies including local councils, police forces and Border Force, and boosted its fleet sales with vendors including Lookers and Arnold Clark.

Additionally, the firm has spentabout£5monupgrading its existing facilities, acquiring new sites and businesses. Group operations director Peter Johnston said the firm has seen major growth in recent years.

“Wilsons Auctions has taken time to strategically invest across its business as part of its growth strategy, with the expansion of departments, creation of jobs as well as the acquisition of new branches, which is reflected in this healthy financial growth.” 0 Peter Johnston highlights its ‘healthy’ financial growth