Letchworth Motor Auctions has closed its doors unexpectantly. Holding two weekly car auctions and regular classic car auctions, the closure will be a loss for buyers and sellers throughout the area.
We have been told that the Independent auction house became no longer viable due to a rent increase. Based in Jubilee Trading Estate, Letchworth, the auction house was long established and well known in industry circles.
Staff were given just 3 days notice of the closure, which was obviously a big shock to not only the staff, but also to vendors and purchasers from the auction that would have used it weekly.
The auction sold trade in vehicles from various main dealerships, company entries, general trade entries, private entries and bailiff seized vehicles in their general weekly auctions. Their classic car auctions attracted buyers and sellers from all over the country, attracting a lot of media attention when they took place.
We have been told that dealers have been left out of pocket as bidding deposits of £250 have not been returned. There are no reports of anyone not being paid for vehicles sold, but this will be dealt with by the liquidator.
The closure of the business wasn’t announced on their website or facebook page, but we have been informed that the auction was closed on 31st July 2024, and a liquidator was appointed. Their website and facebook page are no longer available.
It is sad to see an independent auction house like this closing. Simon Morgan was the Managing director of Letchworth Motor Auctions since August 2012. He was well respected in the industry and the driving force of the previous successful auction house.
We all hope that this isn’t the start of the small independent closures due to rising costs and a reduced volume of vehicles going to public auction.
