PURCHASE OPENS UP INTERNET FOR AUCTIONEERS [Newcastle Journal (England)]
(Newcastle Journal (England) Via Acquire Media NewsEdge) A LEADING auctioneering group is set to reach more customers than ever after buying an historic auction firm specialising in online sales.
Cattle and combines have led the way for the H&H Group, an unquoted plc with more than 1,000 shareholders and a heritage which can be traced back more than 140 years.
Now the Carlisle-based firm - which values and sells machinery, vehicles and stock by auction on behalf of liquidators, administrators and bailiffs across the North - intends to extend its services after announcing the purchase of Newcastle-based auctioneers, James Sutherland & Co Ltd.
While it may be one of the oldest firms of auctioneers in the North East, James Sutherland is one of the most forward-thinking, as it specialises in online sale, technological advancements which H&H now plan to tap into and extend its marketing methods employed by this progressive company.
The sale was completed yesterday, for an undisclosed sum, adding to the H&H Group portfolio of companies and establishing it as one of the foremost auctioneering businesses in the North of England and the South of Scotland.
Showing extraordinary vision and growth, even in difficult market conditions, the H&H portfolio includes auctioneering, chartered surveying, estate agency, insurance, financial services and printing.
Brian Richardson, chief executive of H&H, which now employs 180 people and has a turnover of Pounds 18, believes this latest purchase fits in well with the existing auction businesses. He said: "James Sutherland & Co has developed its business to embrace modern technology.
"They have a very strong online presence and are involved in internet auctions - this is one specific area we are looking to develop in the future.
"We also see great potential to extend the customer base across to the west of the country. At present we have a presence on the web, on Facebook, Twitter, and also at our major auctions we are screening videos online, but our customers can't bid online.
"People can phone bids but most will physically come here. Some people, however, know what they want to bid for and can do that online so this acquisition opens up lots of opportunities. It fits with our strategy of growing our businesses."
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