According to an ad in today’s Commercial Appeal, J.P. King Auction Company will auction 44 condominiums at the River Tower at South Bluffs (we old timers still call it the Rivermont), with 11 units selling absolute. The sale is being billed as an “Inventory close-out”. Auction date is Saturday, June 21, at 11AM. This type of auction is fun to attend, whether you are planning on buying or not. If you have never been to one, this one should be very interesting.
Roebuck Auctions reports it sold 40 plus properties today bringing 2.5 million dollars, on Tuesday, 12/4. It was reported that the auction at Roebuck’s headquarters was packed. Most of the properties were in the Midtown and Cooper-Young area, widely known as the â€œ216-BRETâ€ properties and included single family homes, duplexes, fourplexes, commercial buildings and vacant lots. This was a huge number of properties to be sold in one auction. I was out of town and was unable to attend. I am not sure if I have formulated an opinion or if I can comment on how these sales will impact the Midtown market. If you were there, know anyone who was, or have any comments, please post a comment.