Battle of the bids at the Great North Property Auction

Warren Lewis
29th September 2014

The Great North Property Auction, hosted by iam-sold once again delivered a great result at the latest event on the 16th September.

Over 250 people attended at the Ramside Hall Hotel in County Durham and provided a busy and exciting atmosphere for an evening of bidding battles for the properties available.

Over the last two years, the Great North Property auction has consistently sold over 80% of lots available through the Modern Method of Auction and the most recent auction was no exception, selling a brilliant 84% of properties, totalling almost £3 million.
One property sparked a considerable amount of interest for its rare and unusual starting bid of just £1 with no reserve price. East View Terrace in Shildon, County Durham was listed through the Great North Property Auction and iam-sold’s partner agent, Robinsons.

As the property was sold through the Modern Method of Auction, the property received more viewings and enquiries as well as maximum exposure and marketing. At the live event, the 3 bedroom, end terrace had an opening bid of £500 and had a back and forth battle of the bids across the auction room. The property finally sold to a very delighted buyer for £31,000, in turn making the vendor equally pleased.

The Modern Method of Auction proved very successful for this property, maximising its value and providing the vendor and buyer with fixed dates to sell and move.

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