barnard marcus - the next bloodbath.

jamescredmond

OK. sorry for the 'bloodbath' hype but this word was used to describe the scene at BM's last auction, along with 'carnage'.

the next foray begins on 13/10 (a.m.)

the large no. of withdrawn lots last time around was put down (by some) to vendors 'testing the market' along with a few dreamers raising the bar too high.

It'll be interesting to see who bids how-much-for-what, and who still clings to the belief that the price of their properties remains uneffected.

Ma77hew

Hi, I might be misunderstanding the meaning of this post, are you saying houses aren't selling at auction?

If so I would have to disagree, I went to an auction a couple of weeks ago and it was rammed, loads of houses were selling, and I would say every house was being bid on even if a few didn't reach their reserve.

Maybe its the auctioneer rather than the market or vendors? The one I went to was Allsop.

jamescredmond

all houses will be bid on, but the interesting thing about BM's last auction was that 24% (IIRC) failed to reach reserve. at the time, this was called 'unprecedented'.

the valuers at allsop might be more in tune.

fatpig_2

This should be televised. It would make great viewing.
Far better than the biased Home under the Hammer propaganda currently been shown on BBC1

Ma77hew

jamescredmond wrote: »

all houses will be bid on, but the interesting thing about BM's last auction was that 24% (IIRC) failed to reach reserve. at the time, this was called 'unprecedented'.

the valuers at allsop might be more in tune.

Ah I see thanks for clarifying.

Personally not that surprised, I would imagine any repossessions are going without reserves which is probably lowering the auction value for anyone selling privately, hence the disconnect with reserves.

BARGAINHUNTER!

I went to an auction at York racecourse last month. Most of the houses were bid on, but many failed to reach their reserve. The few that did sell, some of them went for surprisingly high prices! I find auctions a good indication of what is happeneing with the market right now, no waiting a month to find out how much prices have fallen by. What happens at the auction is that people bid the amount they are prepared to pay, although I still think that some get carried away. Details of what prices things went for are here http://www.yorkshirepropertyauctions.co.uk/previous_auctions.php, along with details of the next auction in December (catalogue out end October)

johanne

There was a property in this auction which sold prior... is there any way to find out what it sold for??

HankMcSpank

BARGAINHUNTER! wrote: »

I went to an auction at York racecourse last month. Most of the houses were bid on, but many failed to reach their reserve.

I went to that auction & slapped in a bid or two. Admittedly, I'm a bit wet behind the ears ....I came away with a horse. (that said, it's bedding in nicely with the one I'm already married to)

sabretoothtigger

Isnt the value eventually on a land register

GDB2222

Barnard Marcus are showing 73% sold, although quite a lot of those were sold prior.

johanne

sabretoothtigger wrote: »

Isnt the value eventually on a land register

yeah. but to be honest i was hoping to find out in next few days.

Just it belonged to my fiance and were wondering roughly just how much negative equity weve got to pay off! Know we'll hear off the mortgage company eventually but we were hoping to know asap to start putting some kind of plan into motion!:rolleyes: