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Are auctions really the place to bag a bargain

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Comments

  • PD1
    PD1 Posts: 119 Forumite
    Drea wrote: »
    Quite the opposite, they are usually full of people who are interested in only one thing and are VERY concerned about how high the price will go.

    There are only a couple of people who go and think 'what the heck' and may buy something.

    Well,what's abundantly clear is that the buyers of the previously mentioned haunted house must have been one of the latter. Also what's very clear is that people loose sight of what's realistic as soon as a bidding war starts - for that reason I wouldn't waste my time at an auction.
    Most people are working too hard to make really decent money:eek:


  • Drea
    Drea Posts: 9,892 Forumite
    PD1 wrote: »
    Well,what's abundantly clear is that the buyers of the previously mentioned haunted house must have been one of the latter. Also what's very clear is that people loose sight of what's realistic as soon as a bidding war starts - for that reason I wouldn't waste my time at an auction.

    Not true, don't believe all you see on TV :p

    As it gets to someones budget they do stop and think for a minute before agreeing to a bid, , it isn't always hands in the air!

    As for the 'haunted house', someone would have seen it as a 'do it up' building potential. Which is worth a LOT of money ;)
    Just because you made a mistake doesn't mean you are a mistake.
  • PD1
    PD1 Posts: 119 Forumite
    Drea wrote: »
    Not true, don't believe all you see on TV :p

    As it gets to someones budget they do stop and think for a minute before agreeing to a bid, , it isn't always hands in the air!

    As for the 'haunted house', someone would have seen it as a 'do it up' building potential. Which is worth a LOT of money ;)

    Can we forget about TV for a moment, not everyone watches it all day.

    A bidding war is an occurance which can take place at any auction(ebay, property auctions etc), evidence of which can be seen post auction and doesn't have to be seen on your TV to prove it.

    I think its safe to say the buyer of the said house was an idiot.
    Most people are working too hard to make really decent money:eek:


  • Drea
    Drea Posts: 9,892 Forumite
    PD1 wrote: »
    Can we forget about TV for a moment, not everyone watches it all day.

    A bidding war is an occurance which can take place at any auction(ebay, property auctions etc), evidence of which can be seen post auction and doesn't have to be seen on your TV to prove it.

    I think its safe to say the buyer of the said house was an idiot.

    I think we will have to agree to disagree. And for the record, I have never watched any auctions on TV at all. But it seems to be where most people get their 'info' from.
    Just because you made a mistake doesn't mean you are a mistake.
  • PD1
    PD1 Posts: 119 Forumite
    Drea wrote: »
    I think we will have to agree to disagree. And for the record, I have never watched any auctions on TV at all. But it seems to be where most people get their 'info' from.

    I agree totally, far too many people are influenced by what they see on TV, thats why the auction houses are full of fools who think they know how to make money out of developing property - these are the idiots pushing the prices up
    Most people are working too hard to make really decent money:eek:


  • Drea
    Drea Posts: 9,892 Forumite
    PD1 wrote: »
    I agree totally, far too many people are influenced by what they see on TV, thats why the auction houses are full of fools who think they know how to make money out of developing property - these are the idiots pushing the prices up

    But really, auctions aren't full of those people at all...

    Most people that go to an auction are there because the land next to theirs is for sale, or a shop next to theirs.

    As for residential, well, like I said earlier, it isn't really selling at all unless it is suitable for developing.
    Just because you made a mistake doesn't mean you are a mistake.
  • PD1
    PD1 Posts: 119 Forumite
    Drea wrote: »
    But really, auctions aren't full of those people at all...

    Most people that go to an auction are there because the land next to theirs is for sale, or a shop next to theirs.

    As for residential, well, like I said earlier, it isn't really selling at all unless it is suitable for developing.

    There is some truth in what you say. I've been watching results at Allsops for about a year now and particulary property in my area, and I've consistantly seen houses go for over their realistic value, never mind the guide price. This I find odd, hence my believe the buyers are ill-informed fools.
    Most people are working too hard to make really decent money:eek:


  • Drea
    Drea Posts: 9,892 Forumite
    PD1 wrote: »
    There is some truth in what you say. I've been watching results at Allsops for about a year now and particulary property in my area, and I've consistantly seen houses go for over their realistic value, never mind the guide price. This I find odd, hence my believe the buyers are ill-informed fools.

    I work for a property auction company you see ;)
    Just because you made a mistake doesn't mean you are a mistake.
  • elkay115
    elkay115 Posts: 6,581 Forumite
    Drea wrote: »
    I work for a property auction company you see ;)

    I was wondering when you were going to put him out of his misery and tell him. :D
  • PD1
    PD1 Posts: 119 Forumite
    Drea wrote: »
    I work for a property auction company you see ;)



    Don't worry, I knew you had a hidden agenda

    So, now you've admitted your position, you surely must agree that there is a certain percentage in your auction room that don't know what they are doing.
    Most people are working too hard to make really decent money:eek:


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