Auction

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FRONT SECTION OF THE SITE OFFERED FOR SALE BY AUCTION 

The owner offered the front section of the National Picture theatre site for sale by auction on the 22nd May 2014. However, it did not sell.

The section offered was approximately the front 25% of the site, which contains virtually all of the standing ruins. The owner initially put a Guide Price of £30,000 on the section, which was increased to £35,000 within a few days. However, on the day of the auction the Reserve Price was £66,000, with instructions given to the auctioneer that if it didn't reach the reserve price, the very minimum that he would accept was £58,000.

Bidding started at £48,000 and continued (between two people) until it reached £57,000. At this point one bidder dropped out, and the other bidder was asked if he would be prepared to increase his offer by £1,000 (to acheive the minimum of £58,000 required by the owner). However, the bidder shook his head.

It seems very starnge that if someone was seriously interested in buying it, they were prepared to lose the oppertunity of doing so for the sake of a relatively small amount.