Auctioneer, John Pye, has announced a 24% increase in turnover from 2016 to 2017, making the last 12 months its most successful to date.
The UK nationwide business increased its number of sites, salerooms and bidders, continuing its stellar upwards trajectory as it marks its 50th Anniversary in 2018.
Figures released by John Pye – which has auction hubs across England, Scotland and Wales – show that from the end of 2016 to the end of 2017, the auction house has increased its number of online bidders by 16%, with sales up £25%. Turnover for its trading year, finishing July 31st 2017, was recorded at £13.2m, up 35.2% year-on-year, having been £9.8m a year prior.
Growth has been generated across all elements of the business, including the number of online auctions which have grown from 640 to over 900 for a calendar year. To accommodate that growth the firm has increased its UK sites by five and created 15 more salerooms.
Managing Director Adam Pye, said: “Since 2011 we have experienced significant growth, and expansion, previously unseen in the UK or European auction sector, but the 2016-2017 period has really shown unprecedented growth and this is down to the sheer dedication and hard work of our team.
“In the last 13 months we acquired, refurbished and opened not just our biggest site but also Europe’s biggest general auction facility; a 316,000 sq ft premises near Port Talbot in South Wales – a site covering almost six football pitches under one roof. A significant milestone for us.
“John Pye will continue with its expansion and innovation plans across the business including an ambitious five-year growth plan for the South Wales site, further investment into our Marchington hub, now featuring our flagship vehicle auction showrooms.
“We are looking at substantial forecasted growth at our Scottish site in Bo’ness and London showroom in Mayfair, both in their second year of trading. I’d like to thank our committed team, loyal and supportive clients and our growing customer base, as well as the communities we work in. Already 2018 is shaping up to be another very busy year.”
The Auction House has seen further growth with staff numbers continuing to swell year on year; at the end of 2016 the John Pye team totalled 213 which grew to an all-time high of 340 at the end of 2017 – a growth of nearly 60%.
Over the last 12 months the company has also been recognised by its industry peers for its success and was crowned ‘Asset Valuer/ Auctioneer of the Year’ at the UK Turnaround, Restructuring and Insolvency (TRI) Awards 2017 – creating history by winning the award three years in a row – and was recognised as highly commended in the Amazon Growing Business Awards in the ‘Digital Business of the Year’ category.
This year marks another milestone year for John Pye as it celebrates its 50th year of business; the firm will be marking this achievement with a number of business development announcements to further bolster its client and customer service offerings, hosting celebration events and giving back to the communities in which it trades. The firm recently announced it will be supporting and mentoring one Midlands-based business each month throughout the year.