Lumen Auction Results + Video – All Sold Except 1

I’m about to pass out since I just biked 204 miles from Seattle to Portland but just had to post about the Lumen auction results before crashing…

A reader and Chelsea (who accompanied a Redfin client) sent me the results for the Lumen Auction [pdf] which I combined into one spreadsheet:

588472030 cmwD7 S Lumen Auction Results + Video   All Sold Except 1

The reader, “potus” says:

I just got back from the auction and everything went well. The room was packed… probably by design but there had to be 150-200 people total. They pulled the Penthouse unit because nobody had a chance to see it before the auction. They will auction it off later this month. Everything else sold in the $300 per square foot range. The smallest unit #T109 629 sqft sold for $275k or $437 per square foot. The best deal per square foot was unit M214 1272 sqft selling for $325k or $279 per square foot.

Chelsea adds that once you won a unit you were escorted out (so you didn’t see that someone who bought the same floor plan might have paid less?) and that the custom/penthouse is going to be auctioned July 25.

I also found this Lumen auction video on YouTube if you’re curious to see how these things go:

Ben Miller from the Puget Sound Business Journal also attended the auction with the intention of buying, Lumen Condos Sell At Auction and had this to say:

The auctioneer was a hoot; everything you’ve heard about auctions is true. The man prattles a mile a minute, but slows down so you can hear the bid price. “Mumble-mumble 280 mumble mumble 285.” Auction assistants recognize your bid and if they see you’re interested in a property, they’ll stay close, prodding you to bid higher in a kind-hearted way.
When two interested parties got in a bidding war, the assistants were right there, egging the lower bidding person to bid higher.

And you can see what folks on Twitter had to say.

Guess it’s time to take down that Lumen auction ad! And, time for the bidding on who is going to auction next.

About Matt

Matt , Urbnlivn's publisher, has a love for lofts with industrial features and new construction condos that is only eclipsed by his passion for outdoor sports and urban living. Phrases such as “polished concrete” and “exposed brick” are music to his ears. You can also find Matt on Twitter or skiing.

  • rossjordan

    40% discount seems to be a common number at all the auctions I've looked at (QAHS, a couple REDC auctions and Lumen).

  • rossjordan

    40% discount seems to be a common number at all the auctions I've looked at (QAHS, a couple REDC auctions and Lumen).

  • The MD

    Finally, F I N A L L Y, we can all stop hearing about Lumen's “BRAND NEW” condos for sale. Look, these things were built well over three years ago and hadn't sold for one reason or another. It goes to show things WILL SELL like hotcakes if the price is reasonable and is on pary for the quality of the property being sold. I urge everyone to review the prices these were purchased for and then compare those prices with Queen Ann and Belltown condos bought/sold from mid 2005.

  • The MD

    Finally, F I N A L L Y, we can all stop hearing about Lumen's “BRAND NEW” condos for sale. Look, these things were built well over three years ago and hadn't sold for one reason or another. It goes to show things WILL SELL like hotcakes if the price is reasonable and is on pary for the quality of the property being sold. I urge everyone to review the prices these were purchased for and then compare those prices with Queen Ann and Belltown condos bought/sold from mid 2005.

  • The MD

    Ooops! Make that mid 2006 (my apologies)

  • The MD

    Ooops! Make that mid 2006 (my apologies)

  • Scott in Seattle

    I attended that auction and got my condo for less that the two bid before of the same plan; however, the ones after me paid $15,000 less. Oh well, still a fantastic buy at 60% of original asking price!

  • Scott in Seattle

    I attended that auction and got my condo for less that the two bid before of the same plan; however, the ones after me paid $15,000 less. Oh well, still a fantastic buy at 60% of original asking price!

  • The MD

    Finally, F I N A L L Y, we can all stop hearing about Lumen's “BRAND NEW” condos for sale. Look, these things were built well over three years ago and hadn't sold for one reason or another. It goes to show things WILL SELL like hotcakes if the price is reasonable and is on pary for the quality of the property being sold. I urge everyone to review the prices these were purchased for and then compare those prices with Queen Ann and Belltown condos bought/sold from mid 2005.

  • The MD

    Ooops! Make that mid 2006 (my apologies)

  • Scott in Seattle

    I attended that auction and got my condo for less that the two bid before of the same plan; however, the ones after me paid $15,000 less. Oh well, still a fantastic buy at 60% of original asking price!