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Auction Passion?

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We watch prices and auctions and have just watched in amazement as a one bedroom flat guided at 35k went prior to auction for 120k. At the same time two bedroom flats in the same building (very nice place) are on the market for 84k and a studio flat for 45k. Previously we saw a house badly in need of a complete renovation go for more than three times the guide price. Most of the properties go for close to guide price or don't go at all but there are a few of these very strange anomalies. Can anyone offer explanations?

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We watch prices and auctions and have just watched in amazement as a one bedroom flat guided at 35k went prior to auction for 120k. At the same time two bedroom flats in the same building (very nice place) are on the market for 84k and a studio flat for 45k. Previously we saw a house badly in need of a complete renovation go for more than three times the guide price. Most of the properties go for close to guide price or don't go at all but there are a few of these very strange anomalies. Can anyone offer explanations?

Money laundering.

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We watch prices and auctions and have just watched in amazement as a one bedroom flat guided at 35k went prior to auction for 120k. At the same time two bedroom flats in the same building (very nice place) are on the market for 84k and a studio flat for 45k. Previously we saw a house badly in need of a complete renovation go for more than three times the guide price. Most of the properties go for close to guide price or don't go at all but there are a few of these very strange anomalies. Can anyone offer explanations?

No bidders results in bids off the wall to try to create some excitement and a feeling of an urge to bid to avoid missing out.

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We watch prices and auctions and have just watched in amazement as a one bedroom flat guided at 35k went prior to auction for 120k. At the same time two bedroom flats in the same building (very nice place) are on the market for 84k and a studio flat for 45k. Previously we saw a house badly in need of a complete renovation go for more than three times the guide price. Most of the properties go for close to guide price or don't go at all but there are a few of these very strange anomalies. Can anyone offer explanations?

hi there thanks for this

as i've been saying to everyone who will listen the market has changed in recent months. cheeky bids (well realistic bids ie 20-25% off peak) were seriously considered at the start of the year but now laughed out of hand

qe/zero rates/rise in stock markets has reduced pressure on people to sell at distressed prices/increased confidence/inflation expectations and so people are not selling unless they get a decent price

we've had to pay a lot lot lot more than we were hoping to

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hi there thanks for this

as i've been saying to everyone who will listen the market has changed in recent months. cheeky bids (well realistic bids ie 20-25% off peak) were seriously considered at the start of the year but now laughed out of hand

qe/zero rates/rise in stock markets has reduced pressure on people to sell at distressed prices/increased confidence/inflation expectations and so people are not selling unless they get a decent price

we've had to pay a lot lot lot more than we were hoping to

nah. wait for 6 mnths. bull trap.

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