Those interested in Ireland’s ever growing property auction market should check out ‘The Auction House’ on RTÉ Two tonight at 9.30pm.
Part of the Reality Bites series, the hour long programme is a fly on the wall documentary following auction company Merlin – renowned for their car auctions – as they set up and run their first property auction.
Having enjoyed dominance in the car auction market for several years, Merlin decides to turn their hand at selling property.
The show follows group MD Dave Byrne and new property director Lisa Geoghegan in the eight weeks leading up to their first property auction.
Their first auction took place in the Burlington Hotel in November and featured 10 lots – one of which was withdrawn prior to the event – from five counties including Dublin, Carlow, Clare, Longford and Tipperary.
Just two lots sold at the event with a handful more selling afterwards.
The major success story of the day was the sale of Lot 9 – The Abbey Tavern in Abbey Street, Cahir, Co Tipperary – for €495,000 to a phone bidder. That exceeded the reserve of €425,000 for the public house and four residential apartments by €70,000.
With another event planned for March 20th, find out how Merlin fared and what their hopes are for future events by tuning into RTÉ Two tonight at 9.30pm.