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Am I missing something? Where did the £3 million come from? Looks more like £2.1 to me, but lets not get caught up in actual figures.

Total doesn't include the two which were pre-sold.

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Total doesn't include the two which were pre-sold.

Yes of course, the 05 acre site (with lapsed planning) in Crumlin with a reserve of £5K and the 2 blocks of flats with a reserve of £250K. They must have sold for £900K to increase the figure.

http://www.propertynews.com/Property/Crumlin/ECSECS25720/Lot-19-250m-South-of-10-Grange-Road/

http://www.propertynews.com/Property/Greenisland/ECSECS25701/Lot-10-20-Flats-at-1-2-Knocksallagh-Green/

Or BTW have the marketing guys working overtime and the final results were nowhere near £3 million.

Edited by 2buyornot2buy

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As first posted by CCJ in the Developer in Trouble thread, the Osborne King 8th March auction catalogue has been published :

http://www.osborneking.com/siteFiles/resources/auction%20pdf/catalogue%20mar%2012.pdf

Just 18 lots this time with a total minimum reserve of £916,500.

Usual mix of sites, 'development opportunities' and residential, with the most substantial lot being a 3 acre site in Dungiven with planning for 14 houses - min reserve £100k.

6 residential properties in total, all in Co Armagh :

Modern 3b det , (tenanted £4870pa), Craigavon, min reserve £65,000

Modern 3b mid terr, (tenanted £4900pa), Laurelvale, min reserve £49,000

Modern 3b semi, (vacant), Tandragee, min reserve £55,000

Modern 3b mid terr, (tenanted £5196pa), Laurelvale, min reserve £49,000

Ex Council 2b mid terr, (vacant), Portadown, min reserve £30,000

Modern 2b semi, (vacant), Portadown, min reserve £57,500

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A few NI lots at yesterdays Allsop auction in London.

http://www.auction.co.uk/residential/pastResults.asp?A=761

Lot 139 Flat 6, North Square, Carrick, modern 2b flat, sold for £55,000

Lot 209 31 Upper Newtownards Rd, Belfast, derelict 4b detached, sold for £28,000

Lot 252 25 Francis St, Ballymena, 2b terrace (tenanted), sold for £39,500

Lot 281 3 Carn Green, Newtownabbey, 3b mid terr (ex council), £36,500

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Copied from media articles thread.

Bargain properties still hard to shift

http://www.newsletter.co.uk/news/local/bargain_properties_still_hard_to_shift_1_3545982

ALMOST three-quarters of the properties on offer failed to make their bargain basement price reserves at an auction in Belfast last night

The CPS auctions are of similar ilk to Wilsons and gibsons. I was at a cos auction before where the auctioneer said that the fall of the hammer is not legally binding,and the purpose of the auction was to match a buyer with a seller soma price can be agreed after auction. Pointless

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Latest Osborne King auction was this morning and the results are now on their site : http://www.osborneking.com/auction.asp

The least successful of the 3 auctions to date, 16 lots were available on the day, but just 10 were sold. Total sale price for the 10 was £644,000, 33% above the minimum reserves.

For the first time at either the OK or BTW auctions, residential properties failed to sell

The residential lots were :

Modern 3b det , (tenanted £4870pa), Craigavon, min reserve £65,000. Unsold

Modern 3b mid terr, (tenanted £4900pa), Laurelvale, min reserve £49,000 . Sold for £63,000

Modern 3b semi, (vacant), Tandragee, min reserve £55,000. Sold for £62,000

Modern 3b mid terr, (tenanted £5196pa), Laurelvale, min reserve £49,000. Sold for £61,000

Ex Council 2b mid terr, (vacant), Portadown, min reserve £30,000. Sold for £41,000

Modern 2b semi, (vacant), Portadown, min reserve £57,500. Unsold

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Tyrone police station snapped up £100,000 at auction

http://www.belfasttelegraph.co.uk/news/local-national/northern-ireland/tyrone-police-station-snapped-up-100000-at-auction-16128822.html

Whether it was for a first time family home or a long-term investment, two modern neighbouring three-bedroom houses in Craigavon each went for just over £60,000 — a staggering two-thirds below their original estimated values of between £150,000 and £170,000.

Plots of land fared less well, with several failing to reach their reserve prices.

Head of Osborne King's auction team, Mark Carron, said, on the whole, he was happy with the day’s work done.

“Overall I'm reasonably happy,” he explained

“Generally we are pretty satisfied in terms of sales.

“We’re in the mid-60s in terms of percentages sold,” he added.

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Apparently there are quite a few properties from NI on the mustbesold auction on Friday 16th March. Thread will be on main board

http://www.housepricecrash.co.uk/forum/index.php?showtopic=176433

'Must be Sold' didn't really live up to its name.

7 lots from NI. 1 withdrawn, 1 sold prior, 3 unsold and just 2 sold on the day.

Lot 10. Site Adjacent to 99 Ballybogy Road, Ballymoney, County Antrim, BT53 6NX ( Guide Price £4,000 )

Site with lapsed planning permission for a 4b detached. Foundations in place.

Sold for £26,500

Lot 47

27 Churchfields, Rasharkin, County Antrim, BT44 8TP ( Guide Price £45,000 )

Modern 3 bedroom mid terrace. In need of cosmetic improvements

Sold for £51,000 (capital value £87,500. Seems to have been on the market for £69,950)

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The 2 NI properties in todays Allsop auction in London were both sold :

http://www.auction.co.uk/residential/LotDetails.asp?A=762&MP=125&ID=762000213&S=L&O=A

Lot 209

164 Queen Street, Ballymena. 2 bedroom mid terrace

Guide price £30,000+

Sold for £30,000

http://www.auction.co.uk/residential/LotDetails.asp?A=762&MP=125&ID=762000252&S=L&O=A

Lot 248

253 Donegal Road, Belfast. 3 bedroom mid terrace

Guide price £20,000-£25,000

Sold for £43,000

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I see there are 8 NI properties in the Mustbesold auction on 30th April

http://www.propertynews.com/search/193399097/

This auction should be live on the main board.

This one could be interesting

http://www.propertynews.com/Property/Craigavon/PNC585766/30-Drumnascamph-Road/193411779/

rateable value £210,000 on with an agent at the moment for £164,950 with lovely tell tail signs of being a repossession.

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I see there are 8 NI properties in the Mustbesold auction on 30th April

http://www.propertynews.com/search/193399097/

This auction should be live on the main board.

Sorry for being such a noob but do these auction houses tend to go for much more than the guide price or is there anywhere I could find it out?

Like the Ballynagarve road house on the link

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

lot 169 .51 Bridge Road, Warrenpoint, Newry, County Down, BT34 3QX

this ones up for aucton tomorrow in london, along with few others in antrim

Edited by bearsrus

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That could be it as its an offer of 170k. Let's wait a couple of months and see how the sale goes. Personally the market for countryside McMansions has a very long way to go even ignoring current petrol prices

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I often wonder how much the guide price is used to draw people in. Judging by some of the results in the live auctions thread on the main board - houses are going unsold well over the guide price so there must be a secret reserve price.

BRG seem to be the main culprits of this. They must just survive on the entry fees alone, because they don't seem to get much income from selling many lots

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