Knight Frank is launching an auction business after running a pilot in July this year. 

The global property firm is planning a further seven property sales, with the next one scheduled for October 22 followed by dates in December and February 2021. 

It will be auctioning residential property from across its new homes, London and country house businesses.

The trial auction in July, featured eight lots with an average value of £910,000. 

Knight Frank’s entry into the auctions sector was prompted by lockdown restrictions preventing estate agents from viewing and valuing properties.

It says that auctions will allow clients to sell their properties faster during this heightened period of uncertainty.

Initially its auctions will focus on residential property, but commercial lots are likely to be offered in the future. 

Knight Frank head of UK residential Tim Hyatt says: “We are dedicated to offering our clients the best possible service. 

“In order to provide a comprehensive experience for our customers, we have made the decision to progress with a series of auctions following a successful trial of the platform earlier in the year. 

“We are constantly looking at how we can evolve our business in order to best cater for the current demand and market conditions. 

“Our auctions facility is the latest in a series of innovations from Knight Frank that aim to better inform and service our diverse range of clients.

“I am delighted with the industry leading team we have put in place, recruiting Richard Watson to head up the initiative.” 

Knight Frank has appointed Richard Watson as head of auctions.

Watson was formerly head of UK residential auctions at BidX1 and spent 17 years at Allsop, most recently as a partner in its residential auctions division.