Number of bidders up 70% at second Allsop online auction

The second Allsop online auction took place yesterday with a success rate of 80% recorded.

In total 51 out of the 64 properties sold at a total sales value of €6.5 million.

There were 349 registered bidders, who each placed a €5,000 deposit per property in order to bid online, an increase of 70% on the March auction. A total of 1,477 bids were made throughout the day – an increase of 80% on the last online auction.

Throughout the day bidding for properties was brisk with multiple bidders for the majority of the lots, which led to frequent time extensions and last minute bidding.  An example of this can be seen in a bidding war that lasted precisely 2 hours and 48 minutes where we witnessed an apartment block in Doughiska, Co Galway clock up a record 169 bids.

With 10 registered bidders chasing the property, bidding for the building containing 6 two-bedroom apartments opened at €300,000 at 8.02am. The sale closed at 10.48am with a final bid of €561,000. The unique bidding extension system resulted in the timer being extended a whopping 97 times, allowing an additional €129,000 in bids.

Dublin property highlights include Lot 19 – a four bedroom terraced house in Rialto which sold for €280,000; Lot 2 – a two bedroom apartment in Donnybrook which sold for €250,000; Lot 32 – an end of terrace two bedroom house in Smithfield which sold for €223,000; and competitive bidding for a fourth floor one bedroom apartment in Christchurch which sold for €161,000 after 33 bids.

Louth and Meath property sales were robust and highlights include Lot 43 – 2 x two bedroom terraced houses and a one bedroom apartment which sold for €187,000 following 64 bids from 8 bidders; Lot 9  – a detached three bedroom house in Stamullen sold after 55 bids for €187,000; and Lot 25 – a detached four bedroom house in Enfield which sold for €192,000 after 51 bids.

Commenting afterwards, Allsop’s Director of Auctions Robert Hoban said: “We are delighted with the extraordinary level of engagement by bidders. There was a 70% increase in the number of registered bidders taking part compared to our first online auction.

“Successful and unsuccessful buyers alike were unanimous in their welcoming of a painless and stress-free environment to purchase property.”

Find the full results here.

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