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Some recent Land auctions


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I was just browsing the recent land auctions and was surprised to see the following winning bids...

512m general land - winning bid L$80,000  Amazing!

1024m moderate - winning bid L$200,000. 200k for 1024m. Eye popping! That is nearly 1,000 real world dollars for a tiny bit of virtual land.

1024m moderate - winning bid L$75,000 with 13 bidders. What on earth was special about this????

12 small blocks of moderate land over $L20,000 and 2 small blocks of general land over $L20,000.

That is a lot of money being splashed around for very small parcels of land!

I found it most interesting  🙂

Have a great day,

Space

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Nautilus and Bay city both get double prim allotment per M2. and generally such land goes for around 175L$/m2.

But here, the answer is water access.

https://places.secondlife.com/auctions/history/26285557

The cardona plot is completely submerged and has a lot of nice boat-able area around.

https://places.secondlife.com/auctions/history/26285553

Miramire is technically in bay city and gets 2x prims.

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41 minutes ago, Quistess Alpha said:

Nautilus and Bay city both get double prim allotment per M2. and generally such land goes for around 175L$/m2.

But here, the answer is water access.

https://places.secondlife.com/auctions/history/26285557

The cardona plot is completely submerged and has a lot of nice boat-able area around.

https://places.secondlife.com/auctions/history/26285553

Miramire is technically in bay city and gets 2x prims.

thanks Tessa, and lovely to meet you out there flying around having a look 🙂

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7 hours ago, Quistess Alpha said:

Nautilus and Bay city both get double prim allotment per M2. and generally such land goes for around 175L$/m2.

But here, the answer is water access.

https://places.secondlife.com/auctions/history/26285557

The cardona plot is completely submerged and has a lot of nice boat-able area around.

https://places.secondlife.com/auctions/history/26285553

Miramire is technically in bay city and gets 2x prims.

Miramare is one of the City Sims in Nova Albion, which predates Bay City. But yes, it does have double prims 

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Looking at it again after sleep; Reading between the lines on the cardona auction is rather fascinating.

at 9:50 the going bid was 18,510.

Just before the end time, at 11:53, someone put in a bid for 22,130 and was auto-outbid. From the odd amount, I'd wager they dumped all the L$ they had on hand.

6 minutes later, 11:59, with seconds to spare, either the same person came back with more L$ or another last minute popper-in bid 50,000 and was auto-outbid.

seconds remaining, the same (or ~perhaps different) tried 55000 and 75000 and was still auto outbid.

In my estimation, the person who had the bid for 18510 won the auction, and was in for a nasty surprise at the cost a few hours later.

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I watch the auctions, often see one I would love, but never managed to get that perfect parcel.  Always out bid by some price I would never dare to bid....  Then it usually goes up for sale after at twice as much...  :)  That's life and that's real estate.... or in this case that's virtual estate... hehe

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I watch the auctions but honestly don't participate, because I always lose. 😅

I've been outbid at the last possible second so many times that it's discouraging, and typically (as was mentioned) by vast amounts that I'd never purchase land for. 

I feel like this keeps people who are not within SL real estate circles (or who refuse to pay over 10L/sq m like me)  from getting accessible parcels for a reasonable rate on auctions, and would love to maybe see feature updates that might make auctions more equitable and for the benefit of all.

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Great comments everyone and thanks Tessa for your detective work 🙂

I am amazed that people see value in these blocks and I have no idea how paying nearly $1,000USD for a few thousand sq m is viable. It is all mind boggling and as others have remarked a little disheartening if you want to win a little parcel in an auction and get blown out of the water in the last few seconds.

 

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It is indeed disheartening.

I was the winning bid on a bit of mainland yesterday - 1024 sq m and water access too but blocked on all sides so no open water.

I put in max bid of 2048 as it was no bids at the time and I was the winning bidder until 33 seconds before the end of the auction when someone came in with a snipe bid.

Was impossible for me to bid again as the auction was over before I was even told I had been outbid :(

 

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12 minutes ago, Tarik Darkheart said:

It is indeed disheartening.

I was the winning bid on a bit of mainland yesterday - 1024 sq m and water access too but blocked on all sides so no open water.

I put in max bid of 2048 as it was no bids at the time and I was the winning bidder until 33 seconds before the end of the auction when someone came in with a snipe bid.

Was impossible for me to bid again as the auction was over before I was even told I had been outbid :(

 

Good to know. Seems land sales in SL are operating by Greater Fool theory. Next time wait until the last 30 seconds to put in your bid ^^

Edited by Robberinthemuseum
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11 hours ago, Tarik Darkheart said:

Was impossible for me to bid again as the auction was over before I was even told I had been outbid :(

11 hours ago, Robberinthemuseum said:

Good to know. Seems land sales in SL are operating by Greater Fool theory. Next time wait until the last 30 seconds to put in your bid ^^

If the objective is to "win the auction game" then yeah, don't have your web bot start bidding until the very last few seconds.

If the objective is to get the land at a price you're willing to pay, bid that entire amount right away. Maybe the current former winning bidder already bid more, in which case you'll know right away, but if not you can just forget about the auction until it closes and you collect the land, or are informed you're no longer the winning bidder—which doesn't matter to you because you already bid all the land was worth to you.

Some bidders (quaintly, tragically) think of these "auctions" as an event at Christie's. Then disillusionment is posted to the Forums.

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  • 4 weeks later...

If people are stupid enough to pay those prices, more fool them.

 

As I've told many inworld if you just want some land for a skybox or aren't bothered about location just look for abandoned land and buy it directly from LL for 1l$ a metre.

 

Now time to see how many people I can sell London bridge too.

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