Inside the Auction: A conversation with Andy Thompson, Director at Eddisons auction division.

Auctions are fast paced and full of opportunity. But what’s it like behind the scenes?

We sat down with Andy Thompson, Director at Eddisons auction division, to talk about his experiences in the auction world, the changes and emerging trends shaping the future of auctions, and his tips for first-time auction buyers.

Andy also shared some exciting news about an event that Eddisons are hosting at Together’s Cheadle headquarters on 25^th September 2025.

Meet Andy

Q. Hi Andy. How did you get into the auction world?

“I started out in an estate agency when I was 18, and there was an auction division in the office above ours. About six months in, the director of the auctions came in and asked if I’d be interested in joining their team.

I started from the bottom, literally counting paperclips, and making cups of tea. But that gave me a broad understanding of the business. I always seemed to be in the right meetings, hearing the right conversations, even if I was just being asked to make a brew.

That kind of start gives you a real appreciation for every part of the auction process. You understand both the buyer and seller sides and how it all fits together.”

Q. What keeps you excited about auctions on a day-to-day basis?

“It’s the opportunities, the people, and the freedom. Auctions still only make up about 3% of the overall property market, so there’s a lot of room to grow. I’ve been doing this for 20 years, and I’m still passionate about it. There’s a challenge ahead, and that keeps me motivated.

But if I’m honest, I just love doing deals. Whether it’s a single property, a big portfolio, or a commercial partnership, I really enjoy the energy you get from making things happen.”

Q. What’s the most unusual property you’ve sold at auction?

"We’ve sold windmills, houseboats, nuclear bunkers, and even a chimney in Derbyshire that someone bought for their wife on Valentine’s Day! Some properties are just fun, and you never know how they’ll perform on the day."

The upcoming event

Q. What’s happening at the auction event on 25^th September?

“Every month, we host a large national two-day auction, and this month, part of it will be live-streamed from Together’s HQ. It’ll be the backdrop to a wider networking event throughout the day.

Back in the days of the traditional auction room, the auction room was our shop window. Landlords and sellers would come along, see a slick, professional operation, and feel confident listing their property with us. With everything online now, it's harder to recreate that feel and experience. This event is a chance to demonstrate who we are and what we do.

It’s also a great opportunity to reconnect with some familiar faces and personally meet a new generation of investors who’ve never attended a physical auction before. Hopefully, it’ll be educational for them.”

Q: What kind of buyers are you expecting at the event?

“At the event, it’ll be a mix of experienced traders and developers, alongside newer investors.

In the old days, we had the bidding room and the legal room. The legal room was full of regulars doing deals, networking, and building relationships, including with specialist auction lenders such as Together. We’re hoping to recreate that vibe at the networking event, mixing old faces with new energy.”

Advice for first-time auction buyers

Q: What’s the one thing a first-time auction buyer should do before auction day?

“Know what you’re buying and what you’re going to do with it. You make or break the deal at the purchase stage. Stay disciplined and stick to your budget.

And yes, it’s a cliché, but read the legal pack. Or better yet, get a solicitor to check it. Look out for additional costs and understand your total outlay.”

Q: How important is it to have finance lined up before bidding?

It’s absolutely crucial. When the hammer goes down, you’ve exchanged contracts. You need your finance, solicitor, and renovation team ready to go. That’s why specialist lenders like Together are so valuable. They understand the auction process and move quickly.

Q: What’s the most common misconception about auctions?

That we only sell problem properties. That’s not true. Auctions are about speed and security. If you need a quick, dependable sale, it’s the best route in my opinion, even if you sacrifice a bit on price.

The changing auction market

Q: How has the auction business changed over the course of your career?

“The biggest change has been the shift to digital and online auctions.

The “Homes Under the Hammer” effect made auctions more mainstream and new technology started a gradual move to online auctions. Then COVID just accelerated everything. We already had the tech in place to stream auctions and work remotely, so when lockdown hit, we didn’t need to furlough staff. We just ran with it and never looked back.

Now, we have over a million unique visitors to our website every month. The data, the reach, the efficiency - it’s all improved. So, while I love the energy of the room, the online model gives us better results and more transparency.”

Q: What types of properties are you seeing more of in auctions now?

“We’re seeing more mixed-use properties such as shops with residential units above, for example. Councils are offloading stock, and we’ve had some big multi-million pound commercial sales recently. These deals help revitalise communities and bring life back to high streets.”

Q: What’s next for the auction industry in terms of tech?

“AI is going to be huge. It’ll help with valuations, compliance, and even scanning legal packs. But auctions are still about people. I believe that the future is a hybrid of tech-driven efficiency with human relationships at the core.”

Thanks to Andy and the team at Eddisons auction division for sharing their insights and helping us lift the lid on the fast-paced world of property auctions. Interested in their auctions? Check out Eddisons’ upcoming dates and view all the properties currently announced for the auction on their website.

If you have any questions about auction finance, you can contact Together’s expert auction team on 0161 933 7155.