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Over 150 people attended Stags latest collective property auction at Lanhydrock Golf Club, Bodmin on 21st May 2015. Six lots were on offer and after brisk bidding, all of them sold.
Auctioneers, David Robinson and Andrew Ranson conducted the sale, which generated total sales revenues of £871,000, which was 32% above the upper limit of the total of the guide price ranges.
Andrew Ranson comments “There were many very pleasant surprises for our vendor clients, who after setting realistic guide prices saw keen interest drive prices well beyond these. In one instance, a block of 40 acres of land at Davidstow, which had been guided at a realistic £5,000 per acre made £8,000 per acre, which is far more than a better block of land just down the road has recently made through another agent”.
Another smaller block of land at Lanivet made £50,000 after the vendor turned down offers prior to the auction, just in excess of £20,000.
Auctioneer, David Robinson says “These results reinforce our view that with the right advice and marketing, the auction sale method can achieve some outstanding results far in excess of what one would have anticipated by any other method. This is in addition to other auction advantages such as the transparency that trustees regularly appreciate and the achievement of an exchanged contract at the auction. We would obviously be delighted to talk to any potential vendors who would like advice on perhaps selling by auction”.
Auction results achieved were:
Midwood Farm, Callington | Guide: £225,000 - £250,000 | Sold for £272,000
St Columb Methodist Chapel | Guide: £15,000 - £20,000 | Sold for £37,000
Tredinnick Methodist Chapel | Guide: £20,000 - £30,000 | Sold for £56,000
Land at Davidstow | Guide: £200,000 - £225,000 | Sold for £320,000
Manor House, St Day | Guide: £90,000 - £110,00 | Sold for £136,000
Land at Lanivet | Guide: £15,000 - £25,000 | Sold for £50,000