mowlem

Barnard Marcus auction results (rampers look away now)

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2 hours ago, moonriver said:

Zoopla looks a bit redundant there.

Yes greedy vendors do seem to be the order of the day, but if they don't sell at auction, what do they intend to do next?

Wait for prices to go up?

Or just go back to auction again. as someone is bound to offer more next time? :wacko:

No they usually keep hold of it as they arent in any rush to sell as rates are on the floor at 0.0001%

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On 26/07/2017 at 9:05 AM, Bankside said:

Interestingly Barnard Marcus are claiming 61% were sold. I'm not sure what calculation method was used however it's still significantly lower than previous auctions.

 

Tuesday, 25 July 2017 200    61%    £20,506,500
Tuesday, 20 June 2017 212 69% £28,889,350
Tuesday, 16 May 2017 218 73% £25,716,500
Monday, 10 April 2017 200 74% £29,129,700
Monday, 13 March 2017 198 75% £21,043,250

 

(Second column is lots offered)

 

Updating Bankside's post with today's result

Monday, 11 September 2017  152  64%  £23,053,300

Tuesday, 25 July 2017 200    61%    £20,506,500
Tuesday, 20 June 2017 212 69% £28,889,350
Tuesday, 16 May 2017 218 73% £25,716,500
Monday, 10 April 2017 200 74% £29,129,700
Monday, 13 March 2017 198 75% £21,043,250

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mowlem   

Auction house London has had a bad day. 60% success rate in their auction yesterday, with  by my reckoning less than half the properties in the London area selling on the day.

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On 11/09/2017 at 6:29 PM, Si1 said:

The last two, or the last three overall, including this one? And how often are they?

I thnk BM auctions are usually monthly (not August because of summer hols I guess).

As you can see on later posts, BM auctions for Juny, July and Sept have shifted less than 70%.

And now today Mowlem has pointed out auction house London only had 60% success yesterday.

 

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nimby   

What you are missing on unsold percentages is the fact that if no interest is shown in a property prior to auction it is normally withdrawn from the sale. I accept that not many properties were withdrawn from the Barnard Marcus Auction.

However if you look at Auctionhouse London loads were withdrawn. If they had been included in the not sold figures the percentage sold would have been far lower!

 

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OK, t'would seem that what we have been seeing at these auctions for the past 6 months is now going mainstream!

http://www.dailymail.co.uk/news/article-4889336/Buy-let-empire-EIGHTEEN-homes-rake-74-000.html

 

I like the comment from "Lovin it":- "Oh please auction properties always double at the final hammer if not triple, let's see what it goes for before the return is considered viable!!"

You're a bit behind the times there "Lovin it"!

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mowlem   

Andrews and Robertson 19th September 65% success rate, which includes a fair few lots of ground rents being bought, which IMHO skews the results making them look better than they actually were.

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On 16/09/2017 at 12:28 PM, Roman Roady said:

OK, t'would seem that what we have been seeing at these auctions for the past 6 months is now going mainstream!

http://www.dailymail.co.uk/news/article-4889336/Buy-let-empire-EIGHTEEN-homes-rake-74-000.html

 

I like the comment from "Lovin it":- "Oh please auction properties always double at the final hammer if not triple, let's see what it goes for before the return is considered viable!!"

You're a bit behind the times there "Lovin it"!

Why would you sell anythng that

" rake in £74,000 a year in rent is put up for sale in the North East for just £590,000"

 

When you get 0.f**all % from the banks ?

 

:lol: 
 

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MrXxx   

`The seller has put the portfolio together and let them out so the hard work has already been done!`....ermm, I think the hard work is just about to begin...trying to get your rent and then serving eviction notices!.....makes me laugh, the director of Savilles says its the best opportunity that he has seen for ten years yet he is prepared to let it pass him by...what a generous fellow he is...there you go HPCers, they aren't all bad!

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