Industry News

Two million recorded bids. Every bid has a story.

Publish Date: 21 October 2026

By David Sandeman

Share:

Further reading

'The Auction Room' Event

EIG has reached two million qualifying recorded bids across its auction systems, a significant milestone made possible by the auctioneers and bidders who have been part of the journey.

Behind the number is a particular property, a particular auction and a bid that did not ultimately win.

According to EIG’s internal bid analysis, the milestone was reached at 12:03:10 BST on 8th October 2026, when a €520,000 bid was placed in a timed online auction conducted by DNG Creedon Finn O’Connor.

The property was 1 Rockview Terrace, Middle Glanmire Road, Tivoli, Cork: a lot comprising three two-bedroom apartments.

The two-millionth recorded bid was the lot’s 38th bid. Nine further bids followed, with a different bidder finishing in the winning position at a recorded auction result of €545,000.

The auction behind the milestone

Across the lot, four bidders placed 47 bids, all manually.

The recorded auction result was €150,000 above the €395,000 guide price, an increase of approximately 38%.

Much of the bidding took place towards the end of the auction:

• 43 of the 47 bids (approximately 91%) arrived from 11:55 onwards, five minutes before the scheduled noon close.
• 23 bids were placed after noon.
• Nine bids followed the milestone bid, increasing the price by a further €25,000.

These figures describe one auction. They do not establish how every auction behaves, but they illustrate the activity that can sit behind a recorded result.

What can investors take from the story?

The difference between the guide price and the recorded result highlights why buyers need to conduct their own research before deciding what to bid.

Relevant comparable evidence, the property’s condition, the legal pack, anticipated costs and investment objectives all contribute to that assessment.

The milestone bidder did not secure the winning position. Another bidder was willing to go further.

For an individual investor, the appropriate maximum depends on their own plans and financial assessment. Competition is a reason to be prepared, rather than a reason to abandon that limit.

What does it mean for valuation research?

The property comprised three two-bedroom apartments, an essential detail when considering whether its result is relevant comparable evidence.

A nearby address or a similar guide price does not, on its own, establish comparability.

Valuers and surveyors need to consider the property’s characteristics, the timing of the transaction and the basis of the recorded result, alongside other relevant evidence.

The story behind this milestone is a reminder that useful research combines access to information with careful interpretation.

Thank you to everyone behind the bids

Reaching two million qualifying recorded bids is an opportunity to recognise the auctioneers and bidders using the EIG systems included in this count.

We would like to thank everyone who has been part of that journey, including DNG Creedon Finn O’Connor, whose auction provided the case behind the milestone.

Every bid contributes to an auction’s story. This one also became pt of EIG’s.

Explore EIG for your own work

For investors, developers, valuers and surveyors, an EIG Auction Insights demo is an opportunity to explore how auction property research could fit into your work.

Tell us what you are looking to achieve, and we can focus the conversation on your requirements.

Book an EIG Auction Insights demo: https://bookings.cloud.microsoft/book/OnlineDemo@eigroup.co.uk/?ismsaljsauthenabled

If you are an auctioneer interested in EIG’s auction technology, contact our team on 01737 226150.

The milestone is based on EIG’s internal analysis of qualifying recorded bids across multiple auction systems. Two million bids does not represent two million unique bidders, properties or completed sales.