It was another very successful auction for clients of Colleran auctioneers last week with all but one property selling and one for €75,000 over its guide price. It was certainly a case of quality over quantity with the auction of four properties attracting so many buyers that it was standing room only at the back of the auction room in the Victoria Hotel.
First to sell was No 7B Laurel Park, a first floor two bedroom apartment at the entrance to Laurel Park within walking distance of the hospital and NUIG. Bidding was slow to open, but Don Colleran persisted until he got an opening offer of €165,000. Bidding then quickly increased to €175,000 at which stage he delayed dropping the gavel as solicitor Clodagh Gallagher, who was bidding for a buyer, had to leave the room for a minute in order to re-establish phone contact with her client. The property was eventually sold to the opening bidder at a price of €175,000.
The second property to sell was No 258 Laurel Park a three bedroom detached bungalow tucked away in a small cul-de-sac at the top of Laurel Park overlooking the city.
It was the last sale of the afternoon that generated most excitement and a lot of bidding. Described by Don Colleran as something very special which was certainly reflected in the bidding, No 9 Sáilín beside the g Hotel was a bright rooftop penthouse apartment with stunning views across Lough Atalia and the Clare Hills.
Again, as with the other properties, bidding was slow to open and although there were a number of buyers present many were reluctant to be the first to bid. Eventually a man sitting at the back of the room opened the bidding at €290,000. Some 20 bids later among five buyers it appeared to most in the packed auction room that the property was going to sell to the opening bidder for €355,000. However, Don Colleran's auction experience delayed him dropping the gavel for a minute on his third and final call when suddenly a young man standing at the back of the room entered the bidding for the first time with a bid of €356,000. Bidding continued until eventually No 9 Sáilín was sold to the opening bidder for €365,000, an incredible €75,000 over the advised minimum value.
After the auction Don Colleran said his clients were understandably very happy with the outcome, and his auction highlighted the demand he has for city centre properties in established residential areas, something Colleran auctioneers has always specialised in.
Don Colleran is currently offering a free sales valuation to anyone thinking of selling by private treaty or auction and he has two places still available for properties in his July auction.
If you are thinking of selling contact Don Colleran in confidence at Colleran auctioneers, phone 091 562293 or see www.collerans.com