bidonthecity.com -> Sold?

Also anyone about 1600 broadway auction unit that happened last thursday?

I can't seem to find it on their website. Wouldn't they post the results?

From Curbed Website:

http://curbed.com/archives/2009/05/19/on_the_block_45_manhattan_condos_sell_at_auction_debut.php

On Sunday, much-hyped auction website Bid on the City held its first "live bidding event," and by Monday morning we had several e-mails in our inbox begging us for the first round of results from this eBay for apartments. We've got 'em! Back when we first mentioned the auction, two condos in West Chelsea's new 555 West 23rd Street and one in the newish 325 Fifth Avenue (above) were set to be offered in the 30-minute online/in-person bidding event. Since then a couple more apartments got added to the mix: a one-bedroom in Extell's new 212 East 47th Street, and another one-bedroom in the pre-war 150 West 51st Street. Here's our guide to how they fared in the bidding.

Via a press release from Bid on the City, the auction results:

1) 555 West 23rd Street #S7Q (634sf 1BR bought for $665,000 in Feb. '06): opening bid price, $499,000; SOLD: $509,000.
2) 555 West 23rd Street #N6C (462sf studio bought for $475,000 in Jan. '06): opening bid price, $299,000; SOLD: $468,000.
3) 325 Fifth Avenue #33E (899sf 1BR bought for $1.13 million in March '07): opening bid price, $1.12 million; SOLD: $1.305 million(!).
4) 212 East 47th Street #18C (1BR bought for $643,000 in Feb. '08): opening bid price, $499,000; SOLD: $564,000.
5) 150 West 51st Street #812 (1BR bought for $540,000 in March '06): opening bid, $399,000. SOLD: not sold!

Our gut reaction: Not bad! But what say you? The next auction is June 16, and currently four properties are listed, including a 3BR inside Philippe Starck's Downtown Insanity Palace, aka the Financial Distirct's 15 Broad Street.
� Launches & Releases: Bid on the City Ready for Auction Action [Curbed]
� Bid on the City [bidonthecity.com]

It will be interesting to see how many of these "stay sold".

so they enter an auction to supposedly get a deal and they end up paying top dollar for 1beds and a studio. Probably could have done better on the open market. don't really see any deals based on the above. especially the 1 bed going for 1.3M - ridiculous.

ncy...it's called reality which the bears on theses boards can't accept.

Very interesting - I think the point to take away is that anecdote is useless when it comes to determining market trends & patterns. For every post that some bear throws on here about a property that went below a 2007 price, a bull can [apparently] find a unit that went for higher. The only valid data points at the end of the day, IMHO, are median price per square foot, or the slightly less valuable average price per square foot (which is more easily skewed by a handful of high end closings).