Very briefly, it was a very different Allsop Space experience today. Following protests that got somewhat out of hand at the last auction in The Shelbourne, today’s auction was moved to the RDS, Ballsbridge. This turned out to be a great location; very accessible, efficient entry points, smooth registration process and surprisingly pleasant venue – almost plush! There were a few protestors outside but thanks to a rigorous registration in advance and system of booking every attendee in, no protestors gained entry to the auction. Just prior to the first lot, one gentleman did jump to his feet to make a comment about the legality of a sale but his point was weakened severely by the Solicitor he brought along but who remained outside as he refused to pay the registration fee ‘on principle’. ‘Principle’ was a word thrown around by a few of the protestors outside (there were less than 10/15) – in fact, one lady we spoke with told of her outrage about having three properties repossessed by her lender. When asked what went wrong, she blamed the bank for advancing €2 million of credit to her to buy property. Now, I have genuine sympathy for struggling home-owners and mortgage-holders who have had to give up their family homes, but who in the name of God has sympathy for a lady so deluded that she sees no personal responsibility in borrowing €2 million euro? In any event, Allsop Space prior to commencement of the auction reaffirmed their commitment not to sell family homes that have been repossessed without the bank entering into agreements first with the mortgage-holder. This move is thanks to David Hall and the Mortgage-Holders Association, who were represented at today’s auction.
The results briefly (spreadsheet to follow – someone’s getting a slap on the wrist tomorrow!) as as follows:
- Total on the day sales – €10, 719,616
- Total lots sold on the day – 86
- Lots sold prior to auction – 8
- Lots failing to sell – 12
- Overall impressions, not the best quality stock, low reserve prices and high sales achieved