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Auctions get a great reaction

publication date: Jul 23, 2009
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NuclearColliers CRE used their Evolvin HomePort system to power a real-time on-line auction for the disposal of three sites, and an adjoining site, on behalf of the Nuclear Decommissioning Authority (NDA), including lots at Wylfa, Oldbury and Bradwell nuclear facilities, resulting in a total transaction value of £465 million.

Colliers CRE’s auctions department was appointed by the NDA to set up and manage the online auction, who in turn used Evolvin as their technology partner. The auction ended with the binding ‘fall of the auctioneers hammer’ once a period of 24 hours had elapsed without a bid on any of the lots.

Simon Rigall, Head of Auctions at Colliers CRE said “I believe this is the first time that an auction of this type and magnitude has been staged and it may provide a blueprint for the future in dealing with this type of high value but complex asset.” Sean Downey, Development Manager at Colliers CRE IT department said, “We were given a very short time scale to deliver a system that met the needs of the NDA. Our ability to deliver in time was only possible due to our existing use of the Evolvin HomePort system, their expertise at building secure transactional solutions - and a big team effort."