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Auction an ever-popular option with great results during October!

2019-10-14

Auction an ever-popular option with great results during October!

The appetite of investors was firmly in evidence at the latest auctions held by All Wales Auction on the 8th October in the Village Hotel, Cardiff and on the 10th October in the Menai Science Park, Anglesey, where many lots sold for well over their guide price.

The auctions were both very well attended and saw entries from all across Wales selling at the fall of the gavel; including properties from Anglesey and Conwy in the North to Cardiff, Bonymaen and Swansea in the South. Bidding was fast on the nights resulting in 86% of lots selling at the auctions, raising almost £2.5million.

Developed by South Wales estate agency Peter Alan in partnership with North Wales based estate agent Williams and Goodwin, All Wales Auction is designed to offer an alternative platform for buyers and sellers who may not want to go down the traditional selling route of private treaty. Auction is a fantastic option for those with unusual properties, those who may require a quick sale or those with properties that require complete renovation.

One of the most successful lots was a two bedroom mid terrace property on Fitzroy Street in Cathays, Cardiff, which was guided at £75,000. The property was in need of a total renovation with many areas of the property being unsafe to enter, but even so it raised great interest with possible purchasers. Bidding was strong during the auction, which led to the property selling for £139,000, greatly outperforming the guide and delighting the sellers.

Another highlight during the auction was a plot of agricultural land in Waunfawr, Caernarfon which sold for £22,000 an acre.

Diane Fairchild, South Wales Auction Manager, commented, “I am thrilled with the success of our October auctions, there was strong bidding from buyers which resulted in a number of very good prices being reached for our vendors. With our combination of realistic guide prices, intense property marketing and our award winning, highly experienced auctioneer Melfyn Williams, we believe that the best possible price is always achieved.”

All Wales Auction is now taking entries for its final auctions of the year on 3rd and 5th December. Previous years have shown that this is often a particularly strong auction for property sale and the team are keen to speak to property owners who wish to sell by Christmas.

For more information about All Wales Auction, contact