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Company Profile
Direct Auctions is the first property Auction House to become successful in Spain. Based in Puerto Banus, Marbella, the company offers a variety of properties for open auction from Malaga to Gibraltar. The objective of the company was to offer a direct alternative to buying and selling property – an alternative where service and professionalism would ensure clients on both sides would benefit from the lowest sales fees in Spain and with the knowledge that all properties are pre-conveyed. The properties range from plots of land with licenses to build, old farm houses for reforming, brand new apartments close to completion, resale properties, townhouses and commercial units to top end luxury villas. The main consideration is the price is keen and often properties have savings of around 50% of open market valuations
Direct Auctions was formally launched in March 2003 with the first auction June 23rd 2003. The auction opened with an attendance of over 400 people, interested parties, bidders and the cameras from BBC’s Homes under the Hammer. There was a sale on the day and from then the company has become firmly established holding monthly live auctions and currently selling over 50% of each catalogue.
Direct Auctions have conducted over 40 auctions in Marbella and overseas at various property shows, each one has been well attended. Several properties sell before auction, where prospective buyers view and make an offer which is accepted by the seller. Some lots sell on the day of the auction and there are always sales after the auction as some sellers reduce their prices further to encourage a swift sale. As a current average, 45 to 50% of each catalogue has been sold before the next auction.
In January 2006 Direct Auctions conducted their first overseas auction at Olympia, London at the Viva Espana show – the first time this has ever been attempted, and was a resounding success. Out of 17 well priced and varied Lots offered, 7 were sold over the 3 day event. The turn out at each Auction was superb and the local TV and press were in attendance to film the big event. After the auction a further 2 properties were sold from the catalogue, and the publicity generated a huge amount of interest, with offers of more well priced properties to sell. Four late entry lots were added to the remainder of the Viva Espana catalogue for the following Direct Auctions Marbella Auction, where three were sold on the day, including one to a gentleman bidding on line from Bulgaria!
Direct Auctions stepped up their auction campaign by bringing international auctions to London on the 21st of April for the Invest in Property Show at Earls Court as one of the main events of the show. At this show Direct Auctions auctioned off 14 out of the 18 lots and offered Lots for sale from various european countries.
April also saw the launch of a licensee based in Torre del Mar. Mainly Dutch speaking (as well as english and spanish) Christoph serves the area from Benalmadena to Nerja. Christoph also took the auctions to an overseas show in Holland where although nothing sold on the day, the idea was well recieved by the locals and the press.
Throughout May, Direct Auctions conducted auctions in Dublin and in Marbella. The first Dublin auction was held at Jury's Hotel and again was a resounding success with over 2 million euros worth of property being sold under the hammer. Certainly the Irish loved the idea and with Direct Auctions offering properties with a unique money back guarantee, buyers were totally satisfied. Then followed the last auction of the srping in Marbella, a smaller turnout but a couple of sales were made from the catalogue.
After a well deserved quiet summer, Direct Auctions attended no less than 11 overseas shows and own autions, from London Earls Court, Olympia through to Birmingham and Dublin as well as the local Marbella auctions. Huge publicity was generated as well as properties being offered for auction and sales. The last auction was in Marbella in November.
The start of 2007 saw a change for Direct Auctions, mainly due to the well documented problems of the local town hall and many illegal properties. It was decided not to hold auctions but to continue selling as normal. Also banks clamped down on their criteria so until there was a little more settlement in the situation, the live auctions were suspended.
However, when a call came from the makers of the Trevor McDonald Tonight Show, Direct Auctions was only too pleased to help the crew see the real issues, prospects and future view of the Costa del Sol and also hold an auction for filming. The auction was hald 10 days after the initial call with approximately 30 people in attendance.
From the publicity generated, one property sold before auction, with another three selling afterwards, one to people in the room who viewed after auction, and thwo to people who had browsed the website but could not view the properties or attend the auction on the day.
Despite criticism about the supposed bias of the show, Direct Auctions felt it was a clear and honest indication of how the market was going and definately of how it has become as we enter the latter stages of 2007. Our next auction is to be held in Marbella in September with further ones in October and November. Check here for future auction dates.
Contact us for further information on buying, selling or any other subject.
We can now offer mortgages in Spain, Portugal, Morocco, Cape Verde and Bulgaria. Contact us for further information
We look forward to hearing from you
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