Thursday, October 30, 2008

Welsh auction – 74 lots – 3 bids – no sales

The most embarrassing auction in the west

Seventy-four lots, 100 attendees... err... three bids, and no sales. Welsh estate agents Peter Alan have been blamed for overpricing the properties, but reports suggest that apartments that had at one time seen valuations of £200,000 were offered at £30,000; yet, still no takers.

Posted by ledhouse @ 04:19 PM (863 views)
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3 thoughts on “Welsh auction – 74 lots – 3 bids – no sales

  • hahahaha…..

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  • “Quite simply, the prices were too high; the market has fallen a lot further than the estate agents realise.”

    and anyone else with vested interest. Let’s face it, that is just about every property owner. It’s called ‘denial’. In the case of property,the cultivated belief in value is so high and so strong only the desperate will sell if they do not default. Most of the peoples’ perceived wealth was in their property.
    How materially poor we have all become. We may even become humble.

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  • planning4acrash says:

    We’ve tried here. The solution is to educate all about economics & bubbles to ensure you don’t participate. But, bubbles are government policy, so, government has an good reason to keep kids, in state schools, in the dark. Parents must take responsibility

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