Flat 3, Covindale House was referred to us by one of our Agent Partners who operates in the Southsea area. Unfortunately, the Vendors had 4 sales which fell through, mainly because of the short lease with only 66 years remaining. It was important for us to use the right pricing strategy to attract market interest and achieve a result. Leading up to the auction we lowered the guide and opening bid to £60,000 which is where the auction started. Bidding continued up to £77,000 however closed unsold. One of our verified bidders was not able to pay his security deposit in time for the auction, did so afterward, and gave us a post-auction bid of £80,000 which was successful.