BidX1 Acquisitions Limited has acquired Essex-based Dedman Gray Auctions Limited, an established regional auction house. The move brings together Dedman Gray’s regional expertise with BidX1’s digital auction platform to expand its reach across the UK.
BidX1, founded in Dublin in 2011, operates digital property auctions in the UK, Ireland, Cyprus, and South Africa and has facilitated more than £4 billion in sales. The platform enables buyers to bid for properties online in real time.
Dedman Gray, founded by Michael Gray in 2008, conducts regular sales of residential, commercial, and land assets across Essex, Suffolk, and Kent.
Gray said: “Joining forces with BidX1 is a natural next step for Dedman Gray. Our focus has always been on delivering excellent outcomes for our clients throughout the East Anglia region for all sectors of the property market.”
“Our team remains in place and our clients can expect the same personal, high-level service now with even greater reach and capability,” he added.
The acquisition aims to combine Dedman Gray’s local market knowledge with BidX1’s technology-led approach to increase efficiency and buyer access.
BidX1 also works with a range of agency partners, including Foxtons, with whom it has sold more than 1,000 properties worth over £480m in the past five years.
Jonathan Fenn, CEO of BidX1, said: “Their [Dedman Gray] unrivalled local reputation and strong client relationships in East Anglia make them an ideal partner as we continue to scale our presence across the UK market.
“By combining their regional know-how with BidX1’s technology-driven auction platform, we will create greater value, improved transparency and more choice for both existing and new vendors and buyers.
“This acquisition highlights our commitment to ensuring traditional auction expertise works in modern-day property trading.”
Read the orginal article: https://propertyindustryeye.com/bidx1-acquires-essex-based-auction-house/
