North East estate agent Pattinson is introducing a unique online auction service to cater for rapidly increasing demand for this type of property sale in challenging market conditions.

Reflecting the popularity of online auctions, the simple to use new service at www.pattinsonauctions.co.uk adds a powerful additional element to the company’s existing auction service. Pattinson, which has successfully offered auction services for 15 years, is currently ranked in 9th place in the National Property Auction Index and is the only North East company to feature in the top 25.

Justin Anim, managing director, says: “We’re very experienced in delivering auction services and this is an opportunity for us to extend our offer to benefit more vendors than ever before.

“Our auctions at Kingston Park Rugby Club in Newcastle are attracting record numbers of entries as vendors seek a fast sale with a guaranteed reserve price. Significantly, there are also far greater ‘ordinary’ residential properties entered into auction, marking a real acceptance of this type of sale for vendors who simply have to sell.

“We’ve considered an online auction offer for some time and, with the popularity of our established auction service and the acceptance of websites such as Ebay, the time is right to add another solution for vendors.

”This exciting new service compliments our regular monthly auctions rather than replacing them. It has already proved popular since its launch, opening up our auctions to more national and international bidders.

“As a company, we lead the way with new technology, services and tools to help both our vendors and buyers and we believe we’re the first company to offer this kind of online and offline combination property auction anywhere in the country.”

Pattinson’s new online auction is secure, simple to use and works in a similar way to other online auction websites. The website is available for everyone to see including all previous bids and to place a bid users simply register their details online anytime day or night.

Bidders are kept informed automatically via text and email alerts and given an opportunity to increase their bid before the auction closes.