Commercial auctioneer John Pye Auctions, supporting retailers, manufacturers, distributors with its reverse logistics and providing a sustainable exit route to over 750,000 end consumers nationwide, has announced the opening of its latest facility.
With over 2,500 online auctions held annually, John Pye Auctions process circa 350,000 items weekly, across their network. With the latest facility just opened in Cradley Heath, Birmingham, this adds to its sites across England, Wales, Scotland and Spain.
The West Midlands site, at 350,000sqft, is its largest auction sales space in Europe, meaning they can accommodate more client stock, increase their number of weekly auctions and the central location contributes to their commitment to carbon reduction and sustainability by lowering transportation emissions.
This is all part of an ongoing expansion strategy, supported by a strong performance in the last financial year, which concluded on 31 July 2023. The business achieved a record-breaking year, with auction receipts totalling £119m and turnover reaching £45m — a 36% increase from the previous year.
In addition to the financial growth, new bidder registrations were also up 90% year on year. The results came off the back of John Pye being appointed by administrators to manage the sale of stock on behalf of several high-profile insolvencies, including homeware and furniture designers MADE.COM, cyclist equipment firm, Moore Large & Co and high street furniture retailer, The Sofa Workshop.
The MADE.COM instruction, in particular, demonstrated the company’s scalability and capabilities, involving the transfer of 150,000 items across 9,000 product lines using 800, 40-foot trailers. The final returns for this massive undertaking were an impressive 128% of the cost price, highlighting John Pye Auctions’ efficiency and expertise.
At the other end of the scale, every week they process overstocks and returns for numerous home furnishings manufacturers, distributors, and retailers. Providing them with optimum returns, improved cashflow and releasing valuable storage space.
They have a team of experienced Account Managers that offer a free valuation of goods, based on the large volume of previous sales data. The fully managed process provided has no hidden fees or upfront costs, and includes auction processing and listing, marketing, delivery to the winning bidder and swift payment to the client.
For a free appraisal of your stock exit requirements and to see how John Pye can tailor solutions to meet your specific needs, contact their Business Development team at business.development@johnpye.co.uk
