Watch This Live Auction Now (started 10.30am)

Sisyphus

Is there anyway we can see an overall summing up of the auction? It looked like more didn't sell than did. If they are repos, I presume they have to come back to auction again later
perhaps with a lower reserve price otherwise the auction house will get peeeved at wasting their time. Or do the sellers still have to pay a fee if unsold?

Optimist

Sisyphus wrote: »

Is there anyway we can see an overall summing up of the auction? It looked like more didn't sell than did. If they are repos, I presume they have to come back to auction again later
perhaps with a lower reserve price otherwise the auction house will get peeeved at wasting their time. Or do the sellers still have to pay a fee if unsold?

Depends on the contract you sign but you would usually have to pay for advertising costs etc even if unsold if sold expect to pay somewhere in the region of 2.5% of the sale price

Ivan_Konstantinov

missed the auction,when is next one?

ianmr65

Trollfever wrote: »

This is my favourite auction quote:

Stolen from Merryn Somerset Webb, 29/01/08.
On the plus side you’ll have the interesting experience of finding out what it is really worth. An auction is the purest possible way of finding out the right price for something. There’s no PR, no careful marketing, no estate agent lies or manipulations, no ‘staging’ and no waiting for the ‘right buyer.’ There’s just a man with a hammer and a room full of potential bidders. And the price one of them eventually pays? That’s the market price – the right price for that house given the prevailing market conditions. I wonder if the Battersea penthouse would get £5m if it went to auction

Yes nearly true, if you don't count pottenial shillers, cartelling, and 'telephone' bids.

silvercar

Sisyphus wrote: »

Is there anyway we can see an overall summing up of the auction? It looked like more didn't sell than did. If they are repos, I presume they have to come back to auction again later
perhaps with a lower reserve price otherwise the auction house will get peeeved at wasting their time. Or do the sellers still have to pay a fee if unsold?

often a deal can be done after the auction.

Someone posted on here trying to sell their house. In the end it went to auction and failed to reach the reserve by 5k. They sold it a week later to someone who had bid at auction and subsequently raised their offer.

BettiePage

PasturesNew wrote: »

ooh yes, windmill. My friend lived in a windmill in the early 1970s, I've since found it online from when it was sold off.

Anyway, lot 65.... http://www.eigroup.co.uk/onlineauctions/lotpub.asp?a=10597&l=494181

Doesn't appear on first look to have been sold since April 2000 (when Land Registry records started being made public)

Sold at £150k
Bargain, everybody loves a windmill!

http://www.rightmove.co.uk/viewdetails-17202346.rsp?pa_n=1&tr_t=buy

This is literally at the end of my road. Despite being featured on Central news it is still for sale. Only been a few months though. It's ideal for a fab view of Cosford airshow as it looks down on the runway. I just stand in the fields at the side of the windmill to watch it.

Trollfever

Folks interested in auctions can find more info here:

Latest Issue of RAPID looks at New Build Flats sold at auction, distressed sales and AST yields. (27/03/2008)



The third issue of RAPID (Residential Auction Property Investment Data) a bi-annual publication published by Allsop and the Essential Information Group (EIG) has been released and analyses data from the past 5 years. It looks at New Build flats sold at auction, distressed sales, Assured Shorthold Tenancy (AST) yields, the types of property sold at auction, and the outlook for residential auctions for the next six months.

http://www.allsop.co.uk/articledetail2.aspx?nid=213

PasturesNew

Elsworth, Cambridgeshire.
This is a very small rural hamlet about 10 miles north of Cambridge.

This webpage was of my friend's mill for sale (friend when I was 12, not seen her for 35 years). I went there once for tea.

The whole lot was in 4 lots: The mill; mill cottage; 8 acres of pasture; 8 acres of pasture.

The mill itself sold for £500k in Oct 2006, but it was on the market quite some time as these potential buyers were mulling it over in 2005.

http://www.madideas.org/elsworth-mill-2005/
CB23 4LJ

The mill cottage sold in October 2005 for £245k
CB23 4LL

Those prices were in a desirable area in a rising market, so maybe everybody loves a mill, but nobody really wants the work.

silvercar

They have now listed the prices achieved and the reserves for unsold items.

Interesting that many of the unsold lots were bid upto just a few thousand below the reserve.

Link here:

http://www.barnardmarcusauctions.co.uk/

and navigate through "current auction" on LHS to "17 April".

SouthCoast

Only 62% sold compared with 75% in Feb.

Mortgage lenders need to get real with their reserves.

And for windmill fans I have this @ £795k:

http://www.rightmove.co.uk/viewdetails-16035526.rsp?pa_n=1&tr_t=buy