Huge numbers watch the west’s first live streamed auction
Alan Maxwell, James Heaslip, and Fergal Leonard.
Last Friday saw progressive Galway city estate agents Property Partners Maxwell Heaslip & Leonard make a little piece of history by becoming the first auctioneers in the west of Ireland to screen an auction live over the Internet. Pioneers in the west of Ireland property market, the city-based firm is always looking for ways to improve its business and enhance the service it provides to its clients.
The live streaming of Friday’s auction attracted huge numbers in Ireland and the UK and was viewed as far afield as Australia, Dubai, Canada, South Africa, and the US. Online viewers were able to witness an engaging event live from a packed auction room, with five of the nine lots brought to the market selling for well in excess of their respective guide prices. After some negotiations, a further two lots were sold directly afterwards, with the remaining two lots still under negotiation.
The auction opened with the sale of No 12 Bun Caise in Rahoon, which was offered to the market with a guide price of €140,000. Bidding opened at €130,000 and it soon took off until the final bid of €157,000 was reached and the property, having exceeded its reserve, was deemed to be sold, to the delight of both the vendor and the purchaser.
The second lot offered to the floor was an incomplete detached house at Farravaun, Monivea, and after some tentative bids the property was withdrawn under offer at €75,000. Negotiations continued following the auction and the sale of the property was agreed and contracts signed immediately after the auction.
Lot number three saw a block of four apartments in Cuan Glas in Rahoon, which had been guiding an AMV of €300,000, withdrawn at €270,000. Negotiations are ongoing with this particular lot.
The fourth lot offered under the hammer was a farmhouse on four acres in Tonabrocky, which had generated huge interest in the weeks prior to the auction. Guiding an attractive AMV of €120,000, bidders were initially slow to show their hand, however following the opening bid of €90,000 the price rose steadily, with a number of bidders involved in a period of intense and rapid bidding until the gavel final fell at €165,000, much to the delight of the successful buyers.
Four more lots in Tonabrocky were offered to the room and all sold well in excess of their guide prices, with the exception of one lot adjacent to Rahoon/Newcastle GAA Club, which was sold directly after the auction, at a figure also higher than the expected guide price.
The ninth and final lot of the day was c3.67 acres of development land on the Mountain Road in Moycullen. Despite this being an excellently located site, coming to market with full planning permission, the lot failed to secure a buyer and was withdrawn from the auction floor at €110,000. Negotiations to secure the sale are, again, ongoing.
Fergal Leonard MIPAV MCEI, who co-ordinated the spring auction, was delighted with the outcome. “We like to think we are leading the way in the Galway market to provide our clients with the complete property service,” he said. “Anything we can do to bring our business to the next level, we will do it. The live-streaming of Friday’s auction was just another small initiative which we used to enhance our business. We take great satisfaction in knowing that we were the first to provide this service, but at the end of the day, if we don’t get the desired results, then it’s all in vain.
“Our team is one of the best in the business and we take a lot of pride in what we do,” Mr Leonard added. “A huge amount of preparation goes into every auction we host and we intend to keep improving our service in line with the ever evolving property market.”
Property Partners Maxwell Heaslip & Leonard will hold its next round of auctions on May 10 and already has some outstanding lots included. It is also promising national exposure for many of the properties and is looking to add further properties to its listings for those interested in selling for the best price, with a unrivalled service.
To discuss selling your property with one of Galway’s leading property experts, contact Property Partners Maxwell Heaslip and Leonard at 091 565261.