Property Auction News South West Wales
Auction House Launches in Pembrokeshire
FBM’s first sale under the Auction House colours took place on Wednesday 20th May. Over 150 people crammed into the Plas Hyfryd Hotel in Narberth creating a buzz and air of excitement for the 10 lots being offered.
The auction got off to a flying start with Lot 1, The Former Garage in Lower Frog Street, Tenby selling for £134,000 - £44,000 above the higher end of the reserve. Croft Cottage in Whitland failed to sell and is available at a guide price of £70,000 - £100,000. 44 Main Street, Pembroke sold post-auction at £26,000. 33 St. James Street sold at £92,500. Lot 6 – 5 Oaklands, Milford Haven was shown at a guide of £50,000 - £60,000 and sold below guide at £47,000. Lot 7 the Plot at Maes y Celyn in Llandissilio sold for an amazing figure of £38,000. Lot 8 – Talbot House guided at £70,000 - £85,000 sold for £76,000 on behalf of Help the Aged. 66 Portfield, Haverfordwest sold for £92,000. Lot 10, a plot at Pennar failed to sell and is available at a guide price of £55,000 - £65,000.
The crowd-pleaser was saved to last – Lot 11 was 6 Captain’s Walk, a tri-level house in need of renovation and improvements with spectacular views over Saundersoot harbour and surrounding bay. When offering the property at a guide price £170,000 - £190,000 and over 100 people turned up over the 5 open days. Exciting and fast bidding saw the property finally sell at a figure of £274,000 – 50% above the upper end of the guide price.
The benefits of buying and selling at auction are becoming better understood by those active in the property market. The medium of television has increased awareness with popular programmes such as “Under the Hammer”.
FBM’s Partner, Dominic Subbiani, who is heading up Auction House South West Wales said “We now feel that the time is right to expand our expertise in the property market into auctioneering. In the current market the advantage of selling or buying by auction are clear. They give the opportunity for a quick sale, peace of mind that the sale is legally binding once the hammer falls and also in many cases is the best atmosphere to get the best price”.
“This venture is very much client lead. The demand is there and we are best placed to deliver this service because we have the knowledge and customer base to do it. We are delighted to be linked up with Auction House which is a nationwide brand to give us the edge to appeal to customers and investors all over the country”.
Dominic continued “We are delighted with the results of our first auction selling 80% of lots entered. This is well above the national average. We are now seeking instructions for our next auction which is scheduled for 8th September. We also plan a further auction to take place at the end of November. All of our auctions will take place at the Plas Hyfryd Hotel in Narberth”.
Highly concentrated marketing
We are the only agent in Pembrokeshire who advertise all of our properties in full colour. We take a full centre spread in the Western Telegraph weekly and a full colour page in the Tenby Observer Bi-weekly to ensure that your property is presented to its best.
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When selling your home the key task for your estate agent is to tell as many people about your property, as quickly as possible.
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