Up For Grabs at PG Auction: One Apartment Building
By 250 News
Friday, December 09, 2005 03:00 AM
This apartment building in Fort St. James will be open to bids later this month
The Vice-President of Marketing for Ritchie Bros Auctioneers says people like to sell real estate by auction. Yesterday's $325,000.00 sale of former Premier Bill Vander Zalm' lakefront property near 100 Mile House being a prime example.
Clay Tippett says Ritchie Bros is a particular favourite because the company offers an unreserved auction: "We sell everything to the highest bidder, without any minimum prices and that's why buyers literally come from around the world."
Tippett says the company signed a contract to sell a 28-unit apartment building in Fort St. James at the upcoming auction in Prince George on December 20th. (for more information go to www.rbauction.com)
"This is an existing customer that said, "You know what, I want this apartment building gone." We said would you like to wait 'til spring. He said, "I want it gone now.""
Picture at right is a towing business and wrecking yard in McBride that will also be up for sale at the Prince George auction.
Tippett says the gentleman has been wanting to retire and has been trying to sell the business forever, so he will do so on the 20th.
The Ritchie Bros rep says because the sales are guaranteed to happen, the company is able to spend money on marketing the properties. He says mailers go into business papers and investment magazines.
"There's already a lot of interest in the Fort St. James property," says Tippett, "All people have to do is do their homework -- go and look at it and decide how much they're willing to pay for it."
Previous Story - Next Story
Email
Print
Facebook
Twitter
Digg
Del.icio.usReturn to Home
IMO that was a good idea as long as the raw logs could only be bid on by mills in the region from which they originated.
Did industry consolidation kill the idea?
I figure the Americans would have liked it, value added would have like the idea, and most importantly it could have provided PG with the inside track on a commodity market based in PG.