Light at the end of the tunnel...
Time to post an update and tell you how the auction went.
The early lots that we weren't interested in started selling at only a few thousand over the guide price. Our renovation opportunity, Craig Affie, was lot no.6, and by the time it came up for sale we were increasingly hopeful. We'd spent weeks researching what we could afford to spend, and had set a limit on our bidding 100k over the guide price. Not that we wanted to pay that much, but it gave us loads of confidence that we could secure it.
We played it cool, and with nobody bidding at the guide price the auctioneer took the starting price down till someone bit. Two bidders started taking the price up till it got to about 50k over the guide, they pulled out and a bidder standing almost right next to us joined in. With nobody bidding against him it looked like it could be his, so that's when we started. With the bids going up 5k at a time we were soon 10k below our limit. Two bids later we were at our limit and the other guy kept going. That was when major dissapointment kicked in and we had to pull out. Galling that the man with a bigger bag of cash got it for just 5k above our limit, but that's auctions for you.
After all the time, effort and emotion invested in Craig Affie it was very difficult to see it escape our grasp. However, there is a light at the end of tunnel as we've visited another property that could be a great opportunity for us. And the best bit is that it isn't being sold at auction...so watch this space for more details very soon...
The early lots that we weren't interested in started selling at only a few thousand over the guide price. Our renovation opportunity, Craig Affie, was lot no.6, and by the time it came up for sale we were increasingly hopeful. We'd spent weeks researching what we could afford to spend, and had set a limit on our bidding 100k over the guide price. Not that we wanted to pay that much, but it gave us loads of confidence that we could secure it.
We played it cool, and with nobody bidding at the guide price the auctioneer took the starting price down till someone bit. Two bidders started taking the price up till it got to about 50k over the guide, they pulled out and a bidder standing almost right next to us joined in. With nobody bidding against him it looked like it could be his, so that's when we started. With the bids going up 5k at a time we were soon 10k below our limit. Two bids later we were at our limit and the other guy kept going. That was when major dissapointment kicked in and we had to pull out. Galling that the man with a bigger bag of cash got it for just 5k above our limit, but that's auctions for you.
After all the time, effort and emotion invested in Craig Affie it was very difficult to see it escape our grasp. However, there is a light at the end of tunnel as we've visited another property that could be a great opportunity for us. And the best bit is that it isn't being sold at auction...so watch this space for more details very soon...
posted by sjknowles at 12:56 pm
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