Written by: Toby Limbrick | 16 May 2024

Shock Prices! When Auction Results Blow Minds

Our May auction was certainly a thrill ride! There were some fantastic results for both sellers and buyers, including a somewhat shocking result on a freehold site of 5 x lock-up garages in Guildford, Surrey. We’ve witnessed our fair share of astonishing auction results in our time, but this particular sale left us all picking our jaws up from the floor…

Nestled in Guildford, Surrey, the lot was a freehold site comprising 5 x lock-up garages, 2 parking bays and additional land equivalent to 0.046 acres to the rear. What made this lot truly special was its potential for further residential development, subject to planning. Its prime location, just east of Guildford town centre and a stone’s throw away from Guildford Station, only added to its appeal. With an already impressive annual income of £6,324, we were confident in its performance on the big day, but we still couldn’t have predicted what was to come…

Lot 7 – 5 x lock-up garages | Guildford, Surrey

Come auction day, there were an impressive 23 eager bidders registered, so we were already excited to see how this would play out. The bidding kicked off at £95,000 and over the exhilarating two hours, it wracked up a staggering 74 bids in total. It came down to the final 2 bidders battling it out, but in the end the winning hammer price was a jaw-dropping £210,500 – that’s an enormous 122% price increase from the starting bid!

While we anticipated that this lot would yield good results from the offset, the outcome surpassed our expectations, and we were delighted for the sellers who achieved such a stellar result. It just goes to show that you can never underestimate the power of the auctioneer’s gavel. These extraordinary results prove that you can achieve astounding success at auction and surpass all expectations – including ours!

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