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Erinaceous Auction - London, Manchester, Birmingham ( And 3 At Brook Court, Nottingham! )


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Murky stuff - so presumably if you are the only bidder you can be stuffed by the auctioneer?

Yup. That's why you should always go to an auction with 2 friends - one next to you to sit on your head and stop you bidding on rubbish; the other to be positioned near the auctioneer facing the room so s/he can indicate to you whether there are actually any other bidders.

If it doesn't go to reserve you can always cut a deal at the end of the auction while the vendor is still reeling from the shock of No Sale.

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Yup. That's why you should always go to an auction with 2 friends - one next to you to sit on your head and stop you bidding on rubbish; the other to be positioned near the auctioneer facing the room so s/he can indicate to you whether there are actually any other bidders.

If it doesn't go to reserve you can always cut a deal at the end of the auction while the vendor is still reeling from the shock of No Sale.

lol.

I really hope the shock of 'No Sale' is wearing off for HBOS by now!!!!!!!! pmsl

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Keep an eye on the Nottingham properties up next, previous sold prices:

03 Nov 2006 - 1 Apartment Brook Court, Player Street, Nottingham, City Of Nottingham NG7 5PP

Flat (New build)

Leasehold £125,000

18 Aug 2006 - 21 Apartment Brook Court, Player Street, Nottingham, City Of Nottingham NG7 5PP

Flat (New build)

Leasehold £125,000

08 Aug 2006 - 7 Apartment Brook Court, Player Street, Nottingham, City Of Nottingham NG7 5PP

Flat (New build)

Leasehold £139,000

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21 Apartment sold for £60k

7 Apartment sold for £65k

1 Apartment sold for £55k

Ouch.

Please take note. Some may think they got a bargain today, when in reality they are attempting to catch a falling knife and will end up spilling blood. These prices are still 50% higher than they will be going for in two years, and when it is all done and dusted you will be looking at no more than 10K each.

Even then you will be begging for a buyer - this is only the start.

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21 Apartment sold for £60k

7 Apartment sold for £65k

1 Apartment sold for £55k

Ouch.

That's £10k 'lost' by the new owner of Flat 7 in around 3 -4 minutes!

( Unless Flat 1 ( £55k ) is not strictly comparable to Flat 7 ( £65k ) - More work needed or different size / location within block )

Edit: I see it has suffered some fire damage

Edited by M21er
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Keep an eye on the Nottingham properties up next, previous sold prices:

03 Nov 2006 - 1 Apartment Brook Court, Player Street, Nottingham, City Of Nottingham NG7 5PP

Flat (New build)

Leasehold £125,000

18 Aug 2006 - 21 Apartment Brook Court, Player Street, Nottingham, City Of Nottingham NG7 5PP

Flat (New build)

Leasehold £125,000

08 Aug 2006 - 7 Apartment Brook Court, Player Street, Nottingham, City Of Nottingham NG7 5PP

Flat (New build)

Leasehold £139,000

Nice to see newbuilds bought in the last 3 years keeping to the plan and going for half price.

Buy one Get one free!!!

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This is carnage!

How much did they say property prices went up by today?

6000% wasn't it? :P

0.9% on a monthly basis.

I may be wrong, and I often am, but I think the LR figures exclude auction sales. Which frankly takes all the fun out of waiting for the figures to be released.........

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Lot 15, redhill surry - sold 16/08/2004 - £215,00

Sold today at £181,000 :P

4 years on - their investment has resulted in a LOSS of over £30K

Lot 17 - no bids, couldn't even interest the wall in this one.

Walls have fears.

Lot 30 sold £80,000

Last sold 13/01/2006 £210,000 -- ****** me thats gotta hurt :lol:

Lot 37 sold for £113,500

Last sold May 06 for £194,000

Edit for link

Lot 37 just went for 113500!

last sold:

8/05/2006 £194,000 Flat L Yes Map Block C, 36 Apartment, Pollard Street, Manchester, Greater Manchester, M4 7A

Ouch, thats gotta hurt - another early retirement plan up in flames!

Almost HALVED their money in just under 2 years - pwofit fwom pwoperty.

Keep an eye on the Nottingham properties up next, previous sold prices:

03 Nov 2006 - 1 Apartment Brook Court, Player Street, Nottingham, City Of Nottingham NG7 5PP

Flat (New build)

Leasehold £125,000

18 Aug 2006 - 21 Apartment Brook Court, Player Street, Nottingham, City Of Nottingham NG7 5PP

Flat (New build)

Leasehold £125,000

08 Aug 2006 - 7 Apartment Brook Court, Player Street, Nottingham, City Of Nottingham NG7 5PP

Flat (New build)

Leasehold £139,000

21 Apartment sold for £60k

7 Apartment sold for £65k

1 Apartment sold for £55k

Ouch.

Nottingham - Robin Hood indeed, values HALVED.

Please take note. Some may think they got a bargain today, when in reality they are attempting to catch a falling knife and will end up spilling blood. These prices are still 50% higher than they will be going for in two years, and when it is all done and dusted you will be looking at no more than 10K each.

Even then you will be begging for a buyer - this is only the start.

Who knows, but if these auctions are anything to go by, things outside London in some parts are already desperate.

Here it is;

http://www.eigroup.co.uk/ImageLib/LotPhoto...20080228/43.pdf

I note that in the description it states, 'NB: Please take a torch when viewing'

Presumably that is to burn it to the ground.

:lol:

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I may be wrong, and I often am, but I think the LR figures exclude auction sales. Which frankly takes all the fun out of waiting for the figures to be released.........

Every property must be registered at the Land Registry to be transferred into the new buyer's name. The only exception I can see are some part exchange firms who hold the property with a restriction and then sell the property using a Power of Attorney and blank Transfer signed by the seller. This is to avoid stamp duty. All auction properties must go through the Land Registry.

Hope this helps

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Hi

More evidence today of the state of the housing market across the country.

Erinaceous Auction 12pm Start - No registration required

Today's Order of Sale - 48 lots

There are 3 flats ( Lots 41, 42 and 43 ) in today's auction from Brook Court, Nottingham

Lot 41 - Apartment 21, Brook Court, Nottingham Guide Price £55k

21 Brook Court: Last Sold Price £125k August 2006

M21er

It looks like all three appartments in the block which were for sale, went for less that half the price bought in 2006.

Was this the year they were built.

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Brook Court is a complete basket case. In addition to the 3 sold today, there are another couple of repos on the Barnard Marcus auction for mid March. The area is desperate and this block even more so: I suspect the fact that one of today's was fire damaged has something to do with the number of repos! It's not too far from where I'm sitting but I would never fancy going there, it's pretty rough. To be honest I'm astonished they sold at all.

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