Auctions stage a comeback

AUCTIONS are coming back into fashion – and they're not all mass auctions like those held in the past six months by Allsop/Space. This house at 32 Knocknacree Park in Dalkey, Co Dublin, for example, will be sold by estate agents North's at auction on September 23rd. It has an AMV of €625,000.

It's being sold at auction because the owners are serious about selling, says agent Nick Crawford, and it's a way of getting real cash buyers bidding against each other. The four-bed is being sold by the family who bought it 43 years ago – it was built in 1968, when its modern design was cutting edge.

Now, with a bit of tweaking, you could call that retro. It’s in good condition, says Crawford – and it has sweeping sea views of Dublin Bay.

Wicklow agent Gordon Lennoxis also bringing a house to auction, this one with an AMV of just €140,000. Letterbeg in Blacklion, Greystones, Co Wicklow is a wardship sale.

The detached 1920s three-bed bungalow in need of complete modernisation will be auctioned on September 21st. It’s on view for the next three Saturdays from 2pm-4pm.

As well as single auctions such as these, there are mass auctions – such as the one Allsop/Spaceplans to hold on September 23rd – and group auctions coming up. Gunne's will auction two properties on September 22nd, one on Waterloo Road, the other in Sutton, Co Dublin. It has another five properties it will auction on October 20th.

Gunne'shad two successful group auctions this summer. It's really a sign of getting back to normal, says director Marian McQuillan.

People are selling at auction for different reasons than they did in the boom – the Gunne auction properties are largely a mix of executor sales and sales by investors. And there are buyers – some are investors, says McQuillan, others owner-occupiers.

Other agencies planning auctions are Savills, which is going ahead with its group auction, says Ronan O'Driscoll.It's not revealing any details yet but "it's all systems go," he says for an auction in the autumn.

Knight Frankhas postponed a big group auction it was planning but intends to go ahead with a number of auctions, probably in late September or October, says Robert Ganly.