Merlins second multi-lot property auction took place yesterday at the Radisson Blu hotel with a crowd of approximately 60 bidders, mainly cash buyers. The auction had a slow start but Merlin’s own seasoned, in-house auctioneer, David Kehoe soon picked up the pace.

There were 21 lots listed with one, a townhouse in Laytown, County Meath, withdrawn prior to auction. Of the 20 remaining, five sold on the day, four of which exceeded the AMVs, with a further four under offer immediately after the auction.

The auction had a dramatic twist when the final lot, a five-bedroom detached house in Castlepollard, Co Westmeath was called. A bidder from the front row, Ms Orla Mulvey, stood before the room of bidders and addressed the crowd. She was clearly nervous and emotional; her hands shock as she read from her notes. Ms Mulvey advised intending bidders that the house was originally built by her brother on her father’s land and access to the property, together with the water supply, was via her father’s land. She made it clear that any buyer would be buying the house without access to the property or to water! However, this was not done is a threatening way, Ms Mulvey was most dignified when she announced that she would be bidding herself and that she simply wanted other bidders to be aware of this.

There were two other bidders in the room competing for the property. Bidding started at €50,000 and soon reached and exceeded the AMV of €70,000. The first bidder bowed out early, after being seeking confirmation from the auction that the property was being offered with vacant possession. While vacant possession refers to the property being empty, it also infers that the there will be no struggle with the existing owners. While the auctioneer confirmed vacant possession, it was clear from Ms Mulveys early interjection that they were most certainly ‘issues’ with this house. A second bidder continued to bid against Ms Mulvey and Ms Mulvey took the unusual step of turning around from her seat in the front row to face the competing bidder, instead of facing the rostrum and directing bids to the auctioneer. Despite emotions running high, she maintained eye contact with the other bidder until, at €75,000, he ceased bidding and Ms Mulvey successful secured the property for the sum of €76,000, on behalf of her family. The room erupted into spontaneous applause and there was a palpable sense of goodwill in the room for the family.

Merlins will host their next property auction on 25th July 2012.

Click to download the full results in pdf from the auction

 

Click to download the full results in pdf from the auction

 

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