[darwin]

Anyone going to the REDC auction today? Would love to know how it goes.

link - auctiontoday.co.uk

[6538]

Think so.

[tccambs]

How did it go?

[Billy local Investor]

First impressions were these american auctioneers really know how to sell.

Greg Spiro who runs the show gave a brilliant speech and really sold the concept.

As an investor I had my eye on 5 properties they all were sold for a lot more than I would have expected to pay at Roy Pugh, eddisons, allspop or bernard marcus.

All listed properties were sold.

5 assets were relisted and all sold again for at least the original price.

Average bid price was £99,500.00 & 10% buyers premium.

Overall an interesting evening however I think I will stick to the UK auction houses as the prices seem more reasonable.

I just hope REDC have not kick started the market as I was quite happy building up my portfolio buying cheap auction assets until tonight.

[renterbob]

Billy local Investor, on Apr 1 2009, 11:55 PM, said:

First impressions were these american auctioneers really know how to sell.

Greg Spiro who runs the show gave a brilliant speech and really sold the concept.

As an investor I had my eye on 5 properties they all were sold for a lot more than I would have expected to pay at Roy Pugh, eddisons, allspop or bernard marcus.

All listed properties were sold.

5 assets were relisted and all sold again for at least the original price.

Average bid price was £99,500.00 & 10% buyers premium.

Overall an interesting evening however I think I will stick to the UK auction houses as the prices seem more reasonable.

I just hope REDC have not kick started the market as I was quite happy building up my portfolio buying cheap auction assets until tonight.

So, out of the hundred or so for sale, only a handful sold, and ALL of the ones you were gonna buy, Billy, just happened, erm, to be in the few that sold?

[tccambs]

renterbob, on Apr 2 2009, 07:28 AM, said:

So, out of the hundred or so for sale, only a handful sold, and ALL of the ones you were gonna buy, Billy, just happened, erm, to be in the few that sold?

He actually says that ALL listed properties sold.

Compare that to 6538's list and I think there's some disparity.

Nice first post

[joe90]

If anyone is going to the Birmingham REDC auction tonight can they let me know how much lot 187 goes for. I have heard that they are not going to publish the auction results so would be very grateful to know how Lot 187 goes.

Cheers,

Joe.

[rich-accountant]

joe90, on Apr 2 2009, 12:44 PM, said:

If anyone is going to the Birmingham REDC auction tonight can they let me know how much lot 187 goes for. I have heard that they are not going to publish the auction results so would be very grateful to know how Lot 187 goes.

Cheers,

Joe.

Hello,

I went to the auction on Thurs, and was able to get one of the properties that actually sold under the hammer.
The OH wrote the prices down, so when I find the catelogue I will try to put some up.

I can confirm that:
- under 10 properties sold under the hammer
- about 30 properties were sold provisionally - didnt make reserve but would ask question to seller
- remaining 30-40 did not sell, bidding was closed, no info taked from highest bidder

[rich-accountant]

joe90, on Apr 2 2009, 12:44 PM, said:

If anyone is going to the Birmingham REDC auction tonight can they let me know how much lot 187 goes for. I have heard that they are not going to publish the auction results so would be very grateful to know how Lot 187 goes.

Cheers,

Joe.

I believe that it provisionally sold for £100k - so hammer didnt actually go down, but the question will be asked to seller. Hope that helps