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Archive for September 23rd, 2011

The Allsop Space auction in the Shelbourne hotel in Dublin concluded just before 3pm today. There were originally 74 properties set to come under the hammer. Seven were withdrawn and on the day, a further 11 didn’t sell because they didn’t reach their minimum reserves. At the end of the auction it was announced that lots 10 and 39 sold after the auction. The total of the prices achieved was €9,534,500 which compares with the maximum reserves for the sold properties of €7,046,500 and means that the average sold price was 35.3% over the maximum reserve.

Here are the flash results:

(Click to enlarge)

The auction was conducted by Gary Murphy who we know from the first two auctions. His colleague Chris Berryman took over for the last leg of the auction, so if Gary falls underneath a bus, we will at least have a familiar face to provide continuity at future auctions (by the way the next auction is scheduled for November 30th, 2011)

The first impression on here was that the auction was a success with an 83% sales rate (if you add the 2 properties that sold after auction that would bring to 58 the number of properties sold out of 67, or 87% success rate). Most of the unsold property came pretty close to the reserve with the exception of a property on Finglas Road which went unsold with a highest bid of €185,000 compared to a maximum reserve of €230,000.

This auction was a departure from the previous two in that there was apparently a considerable proportion of non-distressed property up for grabs.

There will be more detail analysis later and hopefully some comments from the Allsop Space auction team.

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