Back To Normality?

With everything slowly returning to normal, here at LRA we have seen a shift in how things used to operate pre-Covid, to what I would like to call a "digital revolution". Changes in habits across the board are apparent, as Auction Houses throughout the world had to adapt in order for their businesses to flourish. It was a scary time for all of us with feelings of much uncertainty. Luckily for the Auction Industry, the pandemic did not greatly affect Lots Road and its continued custom.

The cross over from having weekly physical auctions to online-only auctions saw us churning out successful digital sales on a weekly basis. We noticed that our clients felt more obliged to participate in our auctions knowing they could bid to their heart's content from the comfort of their own home. Not only were our clients buying more but we also had more consignments and an evergrowing Global interest.

The World’s digital pivot during the last 12 months has not only reflected the need to ‘go virtual’ due to the pandemic but is giving rise to an exceptional new form of art (NFTs) which has also fuelled more interest in modern art pieces here at Lots Road Auctions. It makes sense with the move into the digital world people are seeking to find and own physical copies of art in a bid to secure the "real deal" before everything goes digital. We have also noticed that contemporary furniture and lighting are extremely popular at the moment.

Despite the sheer increase in digital/online sales in 2020 - 2021 the average value of lots sold online more than doubled this year, as collectors/buyers alike bid online at increasingly higher price points/estimates. However, buyers still crave the live theatrical and social aspects of auctions, and the Auction houses benefit from the energy and competition they drive!

Our next Interiors auction will be taking place at the usual time this coming Sunday (16/5/21). We hope you will join us! For everything Lot's Road, keep referring to our website and social media channels. All can be found on our main webpage.

- Joshua Wright

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