28 February 2023
By Elaine Murphy
A dilapidated home in need of major refurbishment after being damaged by fire, sold for €44,000 above its guide price following an online bidding war.
Bids for Number 48 Gardener’s Walk in Cobh, Co Cork, started at the advised minimum value (AMV) of €150,000 when the virtual hammer was raised on the property portal, youbid.ie.
Less than 90 minutes later, however, the price had soared to €194,000 as six bidders battled for the keys to the four-bedroom property.
In one flurry of activity, the price rocketed by €15,000 in less than 10 minutes as the prospective buyers desperately tried to outbid one another.
But the house was sold 59 seconds later when ‘bidder number 5’ lodged the successful bid.
The house, which had been smoke damaged, was one of several youbid.ie auction properties which all sold on the day.
Youbid Associate Director, Brigid Downes, said 92% of the residences listed in the February 16 sale were snapped up almost immediately.
“We had a variety of properties on offer at our latest auction, from homes in prime rural locations to fixer-uppers, to commercial premises, and there was great deal of interest,” she said.
A three-bedroom, dormer fixer-upper, also sold for well above its AMV following a similar bidding war between two prospective buyers on youbid.ie.
The property in the townland of Lissahane, near Listowel, Co Kerry, had originally been listed at €66,000 when the sale opened just after 11am.
But in less than 10 minutes, the bidding had reached €76,000 before the hammer fell on the winning bid of €85,000 two minutes later.
“The benefit of an online auction is that you don’t have to attend the sale in person and can watch how the bidding unfolds over the internet before deciding if you want to make an offer,” Ms Downes said.
Youbid’s next online auction tales place on March 23.
All lots are listed on the platform.
Documentation and brochures are available by registering on youbid.ie or by calling Brigid on 01-5676979. Email: email@example.com for more details.