Bidders from Australia and the US take part in auction of 60 properties
Bidders from as far afield as Australia and the United States were among those chasing properties at an O’Donnellan & Joyce auction last week at which more than €6 million worth of sales were recorded.
Auctioneer Colm O’Donnellan said that around 60 properties were sold over two-and-a-half hours last Friday, many of which sold for in excess of their AMVs (Advised Minimum Values).
He said there were a large number of phone bidders from across the globe taking part in the bidding, especially in Australia and the US.
“This has been a growing trend at the auctions recently with the number of Irish living abroad looking to move home or invest in something long term.
“Internet bidding is the latest method of buying property at auction but there are very few auctioneers that combine internet bidding with a live property auction. While online auctioneers such as BidX1 are selling large quantities of properties through their online platform, they are not achieving the prices that a live property auction commands and we pride ourselves in achieving the best possible price for the vendor, while offering a professional and transparent service to purchasers,” said Mr O’Donnellan.
Among the properties which went under the hammer was 32 Henry Street, Galway. Described as a ‘hidden gem’, this three-bed mid-terraced house sold for €415,000, which was €80,000 over its AMV.
For more, read this week’s Connacht Tribune.