Terraced home with two bedrooms that was put up for sale for just £1 attracts more than 1,000 bids in an online auction -before finally selling for £21,000
- The house, in Roath, Cardiff, is spacious but in need of refurbishment
- The house gained 1,048 bids, a record for an online property auction
- Auctioneer Seel and Co had never held an auction online before the lockdown
More than 1,000 bids were made in a lockdown online auction when a house went up for sale for just £1 – and most would-be buyers had never even seen it.
The house sparked the bidding war online for the two-bedroom house up for sale at a lockdown knockdown price.
It was the first time the auction house had ever held bids fully only online after being unable to open its doors – and it brought the house down with demand.
The two-bedroom terraced home sits in Roath, Cardiff, and is a leasehold property with 25 years left on the lease.
The exterior of the house in Roath, Cardiff that has broken online records for bids
More than 1,000 bids were made in a lockdown online auction when a house in Roath, Cardiff went up for sale for just £1 – and most would-be buyers had never even seen it
Spacious rooms can be found inside the bay-fronted home but buyers would need to carry out renovations.
Seel and Co, a century-old auctioneer, said the home eventually sold for more than £21,000 – more than expected.
Auctioneer Huw Edwards said: ‘It was an unusual lot in itself as it is a leasehold interest which is relatively short, which is why the guide price was so low.
‘When we realised that the bids were mounting we were very surprised and pleased for our client.
‘We then realised that in fact we had more than 1,048 bids on that one lot and have been told that this is a record for an online property auction, which was even better news.
‘This was a new experience for us at Seel and Co, after more than 100 years in the auction business going online was a step into the unknown, but one that has really paid off.’
The lot description of the record breaking house which attracted 1,048 bids
The house sparked the bidding war online for the two-bedroom house up for sale at a low price
‘All of the lots sold well in excess of their guide price and we had lots of bidders register, some of whom had never bought at an auction before.
‘It was great that this format attracted a different buying audience.’
Seel and Co are one of the oldest independent chartered surveyors, block management, lettings and auction houses in the UK.