22 Oct 2012 1:01 PM:
I attended the auction of the 50 Spanish Village properties on Saturday at the Thalasia Hotel in San Pedro del Pinatar, of the 1500 people that registered during the build up to the event there were only approximately 40 registered and qualified bidders.
About 80 people turned up on the day (therefore at least 50% who had come out of curiosity) with about another 4 or 5 people opting to bid on line, the on line bidding system malfunctioned and the on line bidders were contacted by telephone!
Of the 50 properties up for grabs at exceedingly low prices only 13 secured bids, each of which were sold ‘subject to owners approval’ as the bid had not reached the ‘private reserve price’ over the next 5 days the bank will be in contact with the successful bidders to negotiate their offers, accept, refuse or place a counter offer
Most of the ‘winning’ bids were within 20% of the starting bid! For example the 2 bed apartments started at 60.000 Euro and the top ’winning’ bid was 73.000 Euro ‘subject’ to acceptance by the seller!
The run up to the event was cover by a Spanish TV crew from Antena 3, one of the National Channels here in Spain and there has been a lot of publicity in the media, both local, national and International for the event!
The feed back from the people that I have spoken to this morning is that the event was a resounding ‘flop’!
To see now if any of the bidders get to buy the property they wanted at the price they offered!
This message was last edited by Sponge Bob on 22/10/2012.
Community thread:
Auction
--------------------------------------