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 Property Week 04/08/2006
Liverpool-based auction house extends operations with new blood. LIVERPOOL-BASED SUTON KERSH Auctions is to extend its fast-growing operation to London.
James Kersh, managing director of the four-year-old auction house, has joined up with former freelance auctioneer Andrew Binstock to manage its London operation.
Binstock, who began his career in the residential agency team at Allsop, has invested 50% of the equity required to set up Kersh's first auction office outside of Liverpool. The new joint venture will be called Sutton Kersh Binstock.
Binstock has already found premises in Stanmore, north London, and is hatching plans to hold the partnership's debut London auction in February 2007.
Kersh singled out the 31-year-old Binstock as a possible figurehead for his firm's attack on the home counties auction market after observing him on the restrum at several Sutton Kersh events.
Kersh said he was impressed by the way Binstock related to northern-based auction-goers, who 'rarely appreciate big London personalities'.
'London accents typically don't go down too well up north,' said Kersh. 'Rightly or wrongly, many clients feel that southern auctioneers attract London-based investors who push up prices for local auction-goers'.
As well as mounting the rostrum for Sutton Kersh Binstock, Binstock has said he will lead the firm's pitches for instructions until he can recruit a small auction team later this year.
Despite the recent dips in form suffered by several of the UK's elite auction houses, Binstock is confident that the London auction circuit can accommodate another firm. Like Sutton Kersh, Binstock says the new firm intends to compile catalogues that contain a blend of UK commercial and residential assets from both the development and investment sectors.
Binstock added: 'Sutton Kersh has done remarkably well in the auction markets of Liverpool and the north-west, and so it makes sense that they have a go at expanding operations down south. As well as strong branding, they have a sophisticated infrastructure and distribution network in place.
'Hopefully the expansion will win us more southern-based clients keen to purchase northern property assets, as well as give our existing clients greater exposure to properties located throughout more southern regions of the UK.'
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