The changing face of auctions
▶ Manheim Auctions have closed five of their 19 auction sites across Britain. Wimbledon, Mansfield, Haydock, Gloucester and Bruntingthorpe have all now ceased to operate as auctions. BCA, too, are making big changes, with both Peterborough and Derby having closed since the end of July. BCA have, however, also opened a number of additional sites including a massive 120-acre facility in Corby.
The cause, of course, is the rise in online auctions; something that started during Covid but which BCA in particular found worked much better for them than running public auctions. As a result, BCA is now 100% online and almost certainly won’t run live auctions again. Manheim, however, are still offering live auctions at its remaining 14 sites alongside online bidding, though these are not open to the general public and only trade account holders can attend.
The bottom line is that with auctions being held online only, the type of site needed has changed. Really, all that’s now needed is parking space, basic offices and bay(s) for valeting, preparing test reports and photography. Stuff like payment offices, cafeterias and of course the rostrums and public seating areas are now history, and there’s no need for a massive customer car park either. There are also far fewer requirements and restrictions when it comes to location for business sites that don’t have to welcome hundreds of visitors several times a week.
Word on the street is that BCA Peterborough has closed at least in part due to a property developer making a hard-to-refuse offer to buy the site.
Some observers have also suggested that Peterborough has been underutilised for some years; late vehicle fleet sales went elsewhere some time ago, and although there were three auction halls on site, only one was used. Its surroundings have also changed significantly in the 40-odd years that it’s been operated. When started, it was in a relatively undeveloped area of fenland with clear space between it and the main town. But since then, a huge retail and industrial estate has grown up around it, and the site must surely have been worth many millions. And with online selling taking over from inperson, the auction really doesn’t need to be in such an expensive location.
Will this be the end of it? Sadly, I suspect not, though Manheim seem to have decided it’s best is to take a biggish hit now in the hope, presumably, that no more will be required. The closure of Bruntingthorpe certainly seems to fit the category of
‘big hit’ given that the site is just five years old and at its launch in 2017 was being trumpeted as their “multi-million next generation auction centre.”
With BCA though, I really can’t help but think that more disposal of sites many of us have known for decades is inevitable. As well as Corby, BCA has invested in new online facilities around numerous places across Britain. With new locations like Thurleigh, Kingsnorth and Crawley now appearing on the list of locations, it’s open to question what role places like BCA’S once-flagship Enfield (North London) site on Great Cambridge Road will play. It’s in an expensive location and, like Peterborough, must be worth a fortune as a development site, and there’s now no need for it to be in such an accessible place. BCA Paddock Wood in Kent is another site with a fairly big footprint which could probably and profitably be replaced by something larger yet cheaper elsewhere.
The next couple of years could be interesting...
“Stuff like payment offices, cafeterias and of course the rostrums and public seating areas are now history, and there’s no need for a massive customer car park either.”