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Barnard Marcus Auction 25 July

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Watching the live feed from the Barnard Marcus Auction in London today

 

First 11 Lots (these are in London) - results are 2 Sold prior, 3 sold at Auction and 6 Unsold (due to reserve)

 

Details here

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

 

Live feed here

https://liveauctions.eigroup.co.uk/auction/show/25618

 

 

So not going so well...

Is anyone there and can provide an idea of how busy it is??

 

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It doesn't seem too bad properties that are selling are going above guide price. Not the carnage one might have expected dissapointing. Still it's difficult to make a judgement from so few datapoints (18 lots so far I have seen). Having said that some of these bidders don't always seem to understand the process with some not showing their bidder number.

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That said one just went unsold (lot 20) 3 floor mid terrace in fulham (posh part) just went unsold at 980K apparently a long way from sellers expectations. WTF 980k for a mid terrace and they thought this is too low!

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4 minutes ago, NorthernMonkey said:

Hah... Lot 19 was blatantly off the wall then surprisingly "not quite there".

I think you could be right!

Next 11 lots...

1 withdrawn

3 Sold

7 Unsold

 

Plenty of comments from the Auctioneer to the last bidder(s) to "come see us after to see if you can close the gap"

 

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Absolute car crash thus far, afraid I have little knowledge of London area's but lots and lots of "Quite a way away from what they want for that"

Still alot of expectations to be managed down there then.

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Some of these cheaper properties are going for stupid money. It seems those properties or sheds at the cheaper end of the spectrum are selling for silly money 40k for a shed with barely any access guide price of 10k. She didn't even know the process at the end of the bidding.

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Next 11 lots.

Lots 23-33

 

1 withdrawn

3 Sold (includes 2 Commecial and 1 Freehold lease)

6 unsold (inc1 no bid and 1 Commercial))

 

(Lot 32 not showing)

 

Edited by Bankside

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53 minutes ago, Bankside said:

Watching the live feed from the Barnard Marcus Auction in London today

 

First 11 Lots (these are in London) - results are 2 Sold prior, 3 sold at Auction and 6 Unsold (due to reserve)

 

Details here

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

 

Live feed here

https://liveauctions.eigroup.co.uk/auction/show/25618

 

 

So not going so well...

Is anyone there and can provide an idea of how busy it is??

 

am going down in a little bit.

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Lots 46 - 56

 

Sold 4 (includes 2 land and 1 garages)

Sold Prior 1

Withdrawn 1

Unsold 6 (includes 1 land)

 

Includes Lots 51, 51A and 51B

 

(also includes lot 56 - 39 St James St, Tunbridge Wells unsold at £760K)

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Large house in T Wells currently split into 4 flats.  The auctioneer was talking up with various comparisons if returned to a single house putting it well over a Million.  Bidding started at £700k and rose (stuttered) to £760k then that was not at the reserve as it turns out. 

The auctioneer did let slip this was part of a portfolio, well that guy is in trouble then because things are only getting worse for him and he should take what he can sooner rather than later in my opinion.

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8 hours ago, GreenDevil said:
9 hours ago, crazypabs said:

Not sure if anyone else noticed, there was a BM auction today and from the looks of the results it was a disaster for them!

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

Looks like they need another auction lol

Wow - even the "cheap" stuff in the NE that "savvy" Southern investors would have "snapped up" in the past didn't sell. Sea change compared to previous years.

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Housing Association (I assume from Google search) putting Bradford terrace houses in the auction - unsold.

Don't know what that tells us, just not seen that before. They would presumably have contractors set up for doing any necessary refurbishment even if it was extensive. Got to be more cost effective than new-build.

 

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3 hours ago, dpg50000 said:

Wow - even the "cheap" stuff in the NE that "savvy" Southern investors would have "snapped up" in the past didn't sell. Sea change compared to previous years.

 

Apartment 1, 136 Standishgate, Wigan, Lancashire, WN1 1ER Available at £20,000

 

 

Apartment 1, 136, Standishgate, Wigan, Greater Manchester WN1 1ER
£79,000 Detached, Leasehold, Residential 18 Apr 2008  
£275,000 Detached, Freehold, Residential 02 Jun 2005  

 

 

Crikey! That's got to be some sort of record.

 

https://www.rightmove.co.uk/house-prices/detail.html?country=england&locationIdentifier=POSTCODE^3800340&searchLocation=WN1+1ER&referrer=landingPage

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4 hours ago, Steppenpig said:

Crikey! That's got to be some sort of record.

 

I've seen this flat around auctions before. Believe the freeholder wants to do a massive scheme of works that will cost a fortune and, even at £20k, is not worth the cost and expense for a basement flat in Wigan. 

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