auctions

Found 25 blog entries about auctions.

Here we were just saying last month that "[a]uctions are fun. Auctions are interesting."

710 Manhattan Beach Boulevard Manhattan Beach CAThere was one coming up for a condo at 710 MB Blvd.(3br/3ba, 1675 sqft.). On Saturday, they were going to auction it off. (See "Auctions Aren't Always Distress Calls.")

But no.

Because the "luxury auction" was much more in the discretion of the seller. By setting what they thought to be a low "come-on" start price of $1.475M, they planned to draw a bunch of offers and sell for more.

Now the whole gambit is postponed.

Instead of sorting through bids on Saturday, they cut the price $100K to $1.375M and extended the time for the "auction" to take place.

Now it will be Oct. 22. Probably.

Are buyers feeling the need to rush?

They're not really doing…

Auctions are fun. Auctions are interesting.

710 Manhattan Beach Boulevard Manhattan Beach CAThere's now one coming up for a condo at 710 MB Blvd. (3br/3ba, 1675 sqft.), but it's not what it first appears. This auction is also different.

The listing's come-on start price of $1.475M is intended as an irresistible low bid, a screaming deal that helps form a line at the front door.

So, should buyers rush to get in that line? Or wait? Or what?

Frankly, it's confusing. 

This "luxury auction" is more of a gambit intended to drive buyers wild than it is a more "typical" auction.

You might wait till the October 8 auction date, or you might try to make a deal sooner. They're not committed to going all the way to October. The company running the auction swears that most properties offered this…

It's like yesterday... just 2 weeks ago.

512 Pacific Avenue Manhattan Beach CAThe Hill Section lot sale at 512 Pacific came to market determined not to waste one minute. And there was no time wasted.

The starting price for this 11,400 sqft. plot was $4.599M, a "come hither" price if there ever was one. (In our blog post, we called the number "a clarion call that echoed across the Manhattan Beach landscape.")

Multiple offers came immediately, the price shot up, and the sale has now closed. My, that was all quick.

Closed price: $5.500M on Tuesday.

Now, what does that say about the neighbor, 500 Pacific, now in its 5th month on the market, priced 14% higher today at $6.280M?

[UPDATE: 500 Pacific closed in March for $5.700M.]

As we said in that prior post, "the lots are the…

The masses gathered, $5,000 cashiers' checks in hand. 

2701 Oak Avenue Manhattan Beach CA2701 Oak (2bd/1ba, 900 sqft.), a corner lot on the "right" side of Oak, needed a new owner. All the hopefuls came ready to play.

The jokey $799K start price was there merely in place to fulfill a requirement that an MLS-listed property have some kind of pricetag on it.

The auction, however, set the market level: $1,340,000.

That's reasonably in line with an extremely recent comp: A lot sale at 1405 Oak, listed for $1.249M, drew multiple offers and closed last week for $1.300M.

And 1405 Oak lacked the corner location and boasted only 4200 sqft. of land, 280 sqft. less than 2701 Oak. Clearly 2701 was worth more.

Next stop for 2701 Oak: A court confirmation process. This could result in…

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