Friday July 23 turned out to be the hottest day of the year with more than 40 properties going under the auction hammer in the O’Donnellan & Joyce digital auction room. Colm O’Donnellan took to the podium at his live stream property auction, which was viewed live by more than 8,000 people. Speaking through smartphones, tablets, and computers in homes and offices across Ireland and indeed abroad, O’Donnellan outlined how the live stream auction works, demonstrating that the company has the technology, the manpower, and the determination to survive the current challenges of this long-lasting pandemic and continue to deliver on its promise to buyers and sellers of property both locally and nationally.
The O’Donnellan & Joyce July property auction last Friday was highly successful with more than 30 properties sold on the drop of the hammer during the auction, and additional sales after some post auction negotiation. With the help of virtual tours and video walkthroughs, many people are purchasing homes without even physically viewing them. While physical property viewings have returned with the most recent easing of the restrictions, for those living and working abroad, the virtual viewing and live stream auction provide a platform like no other which enables these people to purchase their future homes without even leaving their current abode.
Having more than 200 pre-registered bidders signalled to the team that there is still a great deal of money available in the marketplace and demand is strong for homes in Galway city and county, and all along the western seaboard from Donegal down as far as Kerry. With the shortage of new homes coming on stream, the O’Donnellan & Joyce auction provides an ideal platform to achieve a great sale price for your home while offering a fair and transparent method for purchasers to rely on. Commencing at 12 noon last Friday, bidders viewed the auction from the comfort of their own homes and offices, while bidding by telephone, proxy, and internet.
Colm O’Donnellan kicked off with Lot 1, a former Garda station in Hollymount, Ballinrobe Co Mayo. The property was presented in modest condition but would ultimately benefit from a full renovation. The auctioneer accepted more than 40 bids from a total of 28 bidders. The lot commenced at the AMV of €40,000 but quickly rose in increments of €5,000 to over €130,000. The final sale price was €138,000.
Lot 2, a former office building in Westport, which commenced at the reserve price of €150,000 attracted great attention from the market with many inquiries from people looking to pre-register to bid. After intense bidding with more than 50 bids from multiple interested bidders the sale concluded at a price of €395,000.
Lot 3 was a former Garda station in Ballyglass, Claremorris. Offering enormous potential, the property attracted many bidders with bidding commencing at €30,000 and selling for €92,000. This is a great example of a near derelict building that offers great potential and is hugely sought after.
Lot 4, a site situated at the entrance of Ireland West Airport Knock, Co Mayo, generated a lot of interest from potential bidders with an enticing guiding price of €20,000, and after more than 10 bids on the day, the site went under the hammer for €55,000.
Lot 5 in Gleann Dara on Bishop O’Donnell Road near Galway city centre was a semidetached property with four bedrooms. The property attracted great attention from the market with many inquiries and bidders pre-registering to purchase the lot. The house comes with a private rear garden and off-street parking which were illustrated through the virtual tour and are ‘must haves’ for any prospective buyers. Bidding on this lot commenced at the AMV of €220,000 and quickly concluded at a sale price of €230,000.
Lot 6, No 42 Bridge Street in Loughrea, offered an excellent investment opportunity for someone looking to acquire a large mixed-use premises in a central location in Loughrea. Guiding at €120,000, the property attracted good interest and quickly concluded at a sale price of €188,000. There were 15 registered bidders and interest from both local and national buyers.
Lots 9 and 10 were both five bed residences located in Galway and Mayo which were brought to the market by the O’Donnellan & Joyce team, with lot 9 in Loughrea being sold for €75,000 and lot 10 in Ballycastle going under the hammer for €135,000. Varying in price and style, the auction catalogue often includes properties that are suitable for every budget and requirement. From four bed semidetached homes in Roscommon to characterful terraced homes in Donegal, O’Donnellan & Joyce has sold them all in both this auction and past catalogues.
Lot 11 was a unit located in Briarhill Business Park and was destined for a high sales figure given the great location of the premises. The bidders battled it out for more than 15 minutes with bidding commencing at the reserve of €300,000, and after an intense duel the bidding eventually concluding at €510,000. From a guide price of €300,000, this property is a prime example of the level of interest and final sale price that can be achieved by selling by public auction.
There were many other sales on the day that exceeded the expectations of both the vendors and the auction team. The White House in Kerry, a four bedroom residence, sold for €185,000 - €35,000 above the reserve price - and is sure to become the home of the buyer's dreams. Another detached residence situated in Clontusket, Ballinasloe, also sold for €8,000 over its reserve price with the property going under the hammer at €48,000. There were a number of interested parties also bidding for 1 and 1A Old Ballygaddy Road in Tuam, with the residence sub-divided into two self-contained one bedroom units. The bidding commenced at €50,000 and concluded at €90,000 with bids coming in from both internet and telephone bidders. Many sites also met or exceeded the reserve price, with a development site in Caltra, Ballinasloe, going under the hammer for €85,000 as well as a site in Kilcar, Co Donegal, exceeding the reserve price by €15,000 and selling for €35,000.
After the auction, Colm O'Donnellan added: “The willingness of the market to pay for a property in this state is a sign that there is money available and people are willing to buy. Our next auction is on September 17 and if you have a property that you are considering selling, give us a call and we promise to maximise your return.”
The O’Donnellan & Joyce live stream property auctions have become the top property auctions of 2021 as Colm O’Donnellan and his 15-strong team offer cutting edge performances to their national and indeed international audiences.
With an 85 per cent average success rate for 2021 to date, the company is soaring in terms of stock sold, sale prices achieved, and revenue generated for vendors. This was the fourth of seven live stream auctions of 2021, and the next one takes place on Friday September 17 – a date to put in your diary.
If you are thinking of selling your property, O’Donnellan & Joyce offers free ‘thinking of selling’ property valuations. To avail of the offer, all you have to do is simply call or email the auction team and a member of staff will arrange to carry out a valuation of your property.