Blog Post

Properties that were sold at auction later sold private treaty

Publish Date: 17 July 2024

By Jade Shrubsole

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Further reading

The 'Guide Price' and the 'Reserve Price' are critical concepts to understand when buying at auction,

The Two Main Types of Property Auction

Properties at auction can often be great deals for several reasons. For instance, buyers can purchase properties that need upgrading at lower prices, allowing them to refurbish these properties to higher standards.

Additionally, experienced traders may buy auction properties and quickly resell them on the private treaty market. By leveraging their knowledge of marketing strategies and area trends, they can generate a profit without making any physical improvements to the property. Some traders may even buy properties without viewing them first!

Using EIG as an auction buying tool allows you to learn area trends and review the history of specific properties and streets. This capability makes EIG essential for many traders and property developers in their buying process. Here are some proven examples: 

Property: 75 Whellock Road, Chiswick, London, W4 1DY

• Auction Price: £946,000 (June 2022)
• Private Treaty Sale Price: £1,590,000 (December 2023)
• Uplift: £644,000
• Details: Purchased at auction, this house was then upgraded throughout and extended adding a 4^th bedroom.

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Property: 23 Meadow Lane, Edenbridge, TN8 6HT

• Auction Price: £486,000 (Feb 2022)
• Private Treaty Sale Price: £770,000 (April 2023)
• Uplift: £274,000
• Details: Purchased at auction, this house was mid-way through refurbishment when sold, later sold completed and fully modernised.

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After:

Property: 25 Llanfair Road, Cardiff, CF11 9PZ

• Auction Price: £325,500 (June 2022)
• Private Treaty Sale Price: £490,000 (December 2023)
• Uplift: £164,500
• Details: Purchased at auction, this house was then modernised throughout, and the garden landscaped to a modern design before being sold via private treaty.

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After:

Property: 26 Arden Grove, Stockton-on-Tees, TS19 7AU

• Auction Price: £150,000 (June 2022)
• Private Treaty Sale Price: £239,000 (July 2023)
• Uplift: £89,000
• Details: Purchased at auction, this house was then upgraded throughout, and later sold.

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After:

Property: 14 Lychgate Court, Oldham, OL4 5PY

• Auction Price: £81,000 (Feb 2023)
• Private Treaty Sale Price: £92,000 (July 2023)
• Uplift: £11,000
• Details: Purchased at auction, this house was cleared and sold 5 months later.

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After: 

Property: 13 Alexandra Terrace, Wheatley Hill, Durham, DH6 3JW

• Auction Price: £25,000 (March 2022)
• Private Treaty Sale Price: £45,000 (Aug 2023)
• Uplift: £20,000
• Details: Purchased at auction, this house was then upgraded throughout, and later sold.

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