Winning bids on Gold Cup day

Holding a property auction on Cheltenham Gold Cup day was a brave move but, although there were depleted numbers of people in the room, prices were strong and often frenetic and only one lot did not sell.

Winning bids on Gold Cup day

Auctioneer Mark Lewis was encouraged by the number of proxy bids that had been received prior to the auction “We had a lot of people who were distracted by the horse racing and also some who were on holiday so the pre bidding forms were a convenient way for them to leave bids hoping that they would be successful. We even had a telephone bidder in Canada who stopped skiing to make his bid over the phone!

The prices were very good especially against the backdrop of the shenanigans in Westminster and all but one lot was sold.

Notable prices:

  • Bragg Croft Marston Magna: This is a detached stone house set in about one acre which sold for £435,000, 16% above guide and the buyer also bought a contiguous 5 acre paddock for £75,000.
  • Corner Cottage Stour Provost was being marketed for the first time in 68 years and created great interest. The hammer fell at £235,000,  20% above guide.
  • A detached cottage at Ilton near Ilminster sold for £185,000, 15% above guide.
  • A restaurant in the centre of Wincanton sold for £100,000.

The most interest, however, was reserved for a house in Salisbury. It had become quite scruffy but we had a deluge of interest from buy to let investors and first time buyers. After quick bidding the lot was sold to a buyer on the telephone for £161,000 61% above guide.

Symonds & Sampson have two auctions in April.  On 11 April they have properties in Devon, Charmouth and Chard and on 26 April they will be in Sherborne for lots in Dorset, Somerset, Wiltshire and Lyme Regis.

Entries are being taken for the May auctions. More details from Mark Lewis 01258 473766

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