- Two plots of land in Cornwall went up for auction at a guide price of £500 each
- However, the two parcels of land ended up fetching a whopping £47,000 in total
Two parcels of land in Cornwall with a guide price of just £500 each sold for a combined £47k at auction.
The plots both measure approximately 0.02 acres, with Cornwall Council initially instructing the sale of the plots in St Austell.
The land had been put up for auction with a guide price of £500 per plot – but once the hammer came down, the total sale price had multiplied by ninety-four.
One parcel of land, adjacent to 48 Eliot Road, with road access, fetched £31,550, while the second, located next to 36 Eliot Road, went for £15,550 when the hammer came down.
In total, the two plots were sold for £47,000, and had been purchased by the same buyer.
They were among 135 lots listed in the latest auction being held Clive Emson Land and Property Auctioneers.
Auctioneer David Henwood told the Falmouth Packet: ‘There was keen interest in these parcels of land.’
He cited location, as well as development and business opportunities as some of the main reasons the plots eventually sold for a sum exceeding the asking price.
‘With their location in an established residential area, the new owner may consider a range of future uses for the two sites, subject to the necessary consents.’
He added: ‘Land remains in demand, especially sites already benefitting from planning permission.’
It comes after a porcelain pot valued at just £100 was sold for 1,000 times its estimate after bidders speculated it could be a priceless Ming artefact.
The jardiniere – a type of decorative urn – went for a staggering £104,000 at Dorchester-based Duke’s Auctioneers in August last year.
A lack of identifying marks and a hole drilled through the centre of the base of the 8.5in dish meant it received a modest price tag.
But canny bidders noticed the blue-and-white tapered dish was decorated with fruiting vines, popular in the Ming dynasty.
Many pieces of Chinese porcelain feature a maker’s mark that denotes the dynasty and reign of their production, but this piece had no markings to offer a clue to its heritage.
Porcelain pieces with drilled holes usually indicate someone has tried to add a wire to turn it into a lamp, although it is not clear if that is what happened with this jardiniere.
Despite the lack of provenance, the hammer price would suggest the market believed it is an important Chinese antique.
Bidding started at just £30, but there were another 170 bids before the hammer came down.
Despite international bidding, it sold to a private English collector for a hammer price of £80,000, plus fees
Laura Adams is a tech enthusiast residing in the UK. Her articles cover the latest technological innovations, from AI to consumer gadgets, providing readers with a glimpse into the future of technology.
