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The World’s Greatest Auctioneers: Gary Murphy

Gary Murphy: The Pinnacle of Modern Residential Property Auctioneering

In this eighth chapter of our series on the world’s greatest auctioneers, we delve into the extraordinary career of Gary Murphy, widely regarded as the greatest residential property auctioneer of modern times. With his brilliant legal and contract mind, Gary has revolutionized the industry and set new standards for excellence. Gary Murphy’s contributions to the auctioneering world are unparalleled.

Property for sale by Auction A bald man with glasses smiles at the camera. He is wearing a blue and white striped shirt. The background is blurry and appears to be an office setting. Presented by World of Auctions
Gary smiles at the camera. He is wearing a blue and white striped shirt. The background is blurry and appears to be an office setting.

Early Career and Rise to Prominence

Gary Murphy began his illustrious career by joining his family’s auctioneering firm, Hillyers, and retrained as a chartered surveyor.

A Legacy of Auctioneering Excellence

Gary Murphy’s story is not just one of personal achievement, but of a family legacy spanning three generations and over 100 years of auctioneering brilliance. This rich heritage has undoubtedly shaped Gary’s approach to the profession, combining time-honoured traditions with innovative thinking.

He later founded the residential auction department at Allsop, in the late 80’s when asked to act for many famous high street names such as Halifax Bank. During Gary’s Steller time at Allsop he was a partner since 1991. Under his leadership, the department grew to become the largest residential auction house in the UK, selling up to 2,000 lots each year valued at around £450 million.

 

Achievements at Allsop

During his tenure at Allsop, Gary Murphy achieved remarkable milestones. In 2015, Allsop sold over £458 million in residential stock at auction, which was a 9% increase from the previous year.

The firm also saw a significant rise in lots from private sellers, increasing to just over 25% in 2015 compared to 15.5% in 2014. These achievements underscore Murphy’s ability to adapt and thrive in a competitive market.

 

Property for sale by Auction A man in a suit speaks into a microphone, holding a pen in one hand and gesturing with it. He stands behind a podium, with another person in a suit visible in the background. The setting appears to be a formal event or meeting. Presented by World of Auctions
Property for sale by Auction Gary in a suit speaks into a microphone, holding a pen in one hand and gesturing with it. He stands behind a podium, with another person in a suit visible in the background. The setting is a former Allsop Auction. Photo Presented by World of Auctions

What Sets Gary Apart

Gary Murphy’s unique blend of legal acumen, market insight, and auctioneering prowess sets him apart in the industry. His ability to navigate complex property transactions with often difficult groups of bidders!! While maintaining the excitement and energy of the auction room is unparalleled.

One of Gary’s most remarkable qualities is his adaptability. In an ever-changing market, he has consistently demonstrated the ability to adjust his auctioneering style, speed, and tempo to suit modern times. This flexibility has allowed him to remain at the forefront of the industry, even as technology and buyer preferences have evolved.

Professional Achievements and Innovations

Professional achievements are numerous and impressive:

1, Qualified in Law (LLB)

2. Partner at Allsop since 1991
3. Pioneered simultaneous online bidding for traditional ballroom auctions in 1999
4. Led Allsop to sell over £458 million in residential stock at auction in 2015, a 9% year-on-year increase
5. Increased private seller lots from 15.5% to over 25% between 2014 and 2015
6. Appointed as Director of Savills’ expanding auctions business in 2023

Gary’s innovative spirit has been a driving force in modernizing the auction industry.

By introducing online bidding alongside traditional methods, he expanded access to potential buyers and harnessed competition on a national and global scale.

Transition to Savills

In 2023, Gary Murphy joined Savills as one of its Auction Directors to assist with its hunger to continue expanding auctions business.

This move came after a record-breaking year for Savills Auctions in 2022, where they raised over £455 million, a 30% increase from the previous year. Murphy’s appointment reflected Savills’ commitment to enhancing client service and market share.

Property for sale by Auction A man in a suit and tie stands behind a podium adorned with the Savills logo, holding a gavel in one hand while gesturing with the other. He is speaking in front of a grey wall with two framed ocean-themed paintings and yellow Savills branded panels. Presented by World of Auctions
Property for sale by Auction Gary in a suit and tie stands behind a podium adorned with the Savills logo, holding a gavel in one hand while gesturing with the other. He is speaking in front of a grey wall with two framed ocean-themed paintings and yellow Savills branded panels. Photo Presented for the article by World of Auctions

Innovations in Auctioneering

As lead Auctioneer Gary has been at the forefront of innovations in the auctioneering industry. Allsop was the first property auction house to introduce simultaneous online bidding for traditional ballroom auctions in 1999. This innovation allowed buyers to bid in the room, by proxy, over the phone, or online, thereby increasing access to potential buyers and harnessing competition nationally and globally.

Gary remains a strong advocate for blending traditional and modern auction methods. As his friend, we can say first hand that He believes in preserving the art of the auctioneer while embracing the convenience of online bidding. This forward-thinking approach is exemplified in the Savills method of live-stream auctioneering, which offers the best of both worlds.

The Future of Auctions

Murphy has always been a proponent of blending traditional and modern auction methods. The Covid pandemic accelerated the shift from ballroom to online auctions, but Murphy believes that the physical auction room will continue to play a part as long as the strongest prices are achieved under the hammer.

Conclusion

Gary Murphy’s career is a testament to his expertise, innovation, and leadership in the auctioneering world. From his early days at Hillyers to his transformative role at Allsop and now at Savills,

Murphy has consistently pushed the boundaries of what is possible in property auctions. His ability to adapt to changing market conditions and embrace new technologies ensures that he remains at the pinnacle of his profession.

Gary Murphy’s legacy is not just in the numbers but in the trust and respect he has garnered from clients and colleagues alike. As we look to the future of property auctions, Murphy’s influence will undoubtedly continue to shape the industry for years to come.

This concludes today’s chapter on Gary Murphy, the brilliant legal and contract mind who has earned his place as the greatest residential property auctioneer of modern times. Stay tuned for the next chapter in our series on the world’s greatest auctioneers.

 

 

– Link to previous chapters in the “World’s Greatest Auctioneers” series world-ranking-list-for-auctioneers-richard-auterac-the-worlds-most-knowledgeable-and-successful-commercial-property-auctioneer-a-living-legend/
– Link to articles about online auction innovations – https://worldofauctions.co.uk/uk-property-auction-market-2024-guide-buyers-investors/
– Link to pages about property valuation and market analysis – /services/free-valuations-market-appraisals/