President Trump’s Childhood Home Sells at Auction

Flipper makes 53% return in 30 days using the auction method of marketing real estate.

President Donald TrumpA New York real estate investor purchased the childhood home of President Donald Trump this past December for $1.39 million. Throw in the auction method of marketing and a 30 day auction marketing plan sales price of $2.14 million is achieved. A 53% return on investment. And they say auctions are the method of last resort, fire sales and giving your property away.

 

CBS News reports that president’s father, Fred Trump, built the home in the Queens neighborhood around 1940, and the Trump family lived there for 10 years before moving around the corner.

The Trump homestead offered five-bedrooms, 4.5-bathrooms, an eat-in-kitchen, formal dining room, fireplace, screened patio, den, finished basement, and hardwood floors along with a two-car garage.

Michael Davis purchased the home in December from Isaac & Claudia Kestenberg, who purchased it in 2008 for $782,500 and later sold it as part of divorce proceedings. The Kestenbergs  wanted to auction the house in October, after the third debate between the Donald Trump & Hillary Clinton. However, they chose to postpone the auction after “significant media attention.”

The home’s address is 85-15 Wareham Place in Jamaica Estates, in New York City’s Queens neighborhood. This is the address listed as the home address on the president’s birth certificate. Median home sales in the neighborhood is $850,000 according to Trulia.

Mr. Davies sold the home at auction grossing 2.5 times the median home value in the neighborhood, that is a deal that Donald Trump himself would be proud of. How do you place a value on the childhood home of a President of the United States? Simple you tell the market what day it’s going to sell and allow them to financially compete to own it.

The losers in this deal are the Kestenbergs. When “significant media attention” happens in the auction industry we call that “free advertising”!

Read the CBS News Article Here

$468 Per Pound Beef?

Grand Champion Houston Steer Brings $345,000

$468 Per Pound BeefWhen the Grand Champion Steer at Houston goes across the auction block it is a sign the stock show season is over. An Anson, TX teen was a bit shell shocked when the show judged slapped the teen’s steer 1,283 pound Charolais named “Playa” on the hip, signaling the Grand Champion of show. Not just any stock show, the granddaddy of all stock shows, the Houston Livestock Show & Rodeo. The 15 year old will take home $75,000 of the proceeds while the remaining will be used by HLSR for scholarships.

A unique surprise at this year’s auction was country recording artist, Zac Brown achieved high bidder status at $330,000 for the reserve champion steer. Mr. Brown credits his ability to succeed in the music business to his experience as an FFA member in high school. Mr. Brown stated that he was thankful for his FFA opportunity, and the success he has achieved in the music business and wanted to give back. That is a story in and of itself.

“Playa” might have neared the $500lb mark but he did not come close to the $600,001 record set in 2002. With the disparity between “Playa” and the 2002 champion it makes one ask “Why not opt to list the steer with a cattle broker, why not put an ad on Facebook, etc?” Because markets change. The cash market within corporations and wealthy supporters has changed in 15 years. When the markets change new values are established, sometimes higher, sometimes lower.

Auctions obviously provide more excitement than a listing with a cattle broker or social media ad. More importantly an auction puts all interested parties in one room to compete against each other financially for ownership or in the case of stock shows and Mr. Brown the opportunity to give back and change lives of young people.

For the full story visit the Houston Chronicle article.

~Brent

 

Welcome

Alliance Auctioneers teamWelcome to the new and improved Alliance Auctioneers website.

Our team has known for some time that we needed to revamp our site. As with anything in business, it just takes time and money. When we decided to move forward wanted to do three things: 1) provide you with information about upcoming auctions, 2) educate you about the auction process and, 3) show you who we are as auctioneers.

This new site is a success! It provides you a portal to bid on items and learn more about our industry as well us who we are as professional auctioneers. Today’s public is not as versed in auction knowledge as previous generations. Much of that gap comes from more people growing up in urban areas versus farm or rural areas. Farm and rural areas have historically had more auction activity where young people were exposed to live auctions. To help you become comfortable with the auction process we want this page to be an educational resource into the exciting world of buying and selling by auction utilizing professional auctioneers.

Alliance never wants the fear of the unknown to prevent someone from attending any live auction event. Therefore, we are dedicating a large portion of this website to educating the you. As time goes on you will see short educational videos, pictures and blog stories of auction successes and failures from around the auction globe as well as other auction and auctioneer educational content.

No Experience needed…

If you are new to auctions we invite you to learn from our website and visit us at upcoming auctions. Upon arriving at any of our auctions simply inform any uniformed team member that this is your first auction. You will be introduced and paired with one of our bid assistants that will walk you through the process. Our bid assistants will hold your hand during your first few bids until you are ready to fly solo.

We hope you enjoy our new website and we look forward to seeing you at an upcoming auction very soon.

Biddingly yours,
The Alliance Auction Team