Value of Dunne’s Ballsbridge site may now be less than €100m

sbpost.ie/post/pages/p/story … qqqx=1.asp

Is that some sort of Sean Dunne, revenge fund or something? :confused:

I think you should amend the title to add an ‘m’ for million. I’d buy the site for 100 quid even in these straightened times!! :stuck_out_tongue:

now for round 3 of “it’s a bailout”

Yeah, difficult in today’s market.
Like “experienced auctioneers in the large estate agents” were getting valuations spot on during the boom.

I presume an “experienced auctioneer in a large estate agents” was involved in putting the 370m value on it when it was bought.

Plonkers.

-Rd

Good points Rd…

If they are having a difficulty putting a value on it why not ask the expert in the area of Ballsbridge property prices, Gayle Killea…so cmon Gayle give us a figure between 50p and 17 euro 27 cents…

Yes I remember this controversy at the time, I think they buried the legislation to regulate auctioneers since.

Yes, it does sound riciculous, doesn’t it. That he would ask his wife to pick a random number in relation to a business deal of this size and somehow she managed to get one that was marginally above the next highest bid. The odds of her getting such a guess right must be about 50/1. Why start at 253 and not 250? If this anecdote happened as he tells it, he’s an utter moron who should never have been involved with sums of money this large. Or maybe it’s not true and…
I don’t see why auctioneers would be consulted about its value at this stage anyway. This is going to remain a hotel(s) for the next decade at least. What’s its value as a going concern?

A classic case of the winner’s curse
en.wikipedia.org/wiki/Winner%27s_curse

That turned out to be one expensive trophy wife. Yes sirree.

An irksome quirk of property valuations is that they are point in time. All the valuer does is mark the property to market and make a few adjustments. This makes their use very limited. I get the feeling that people assume the valuers are placing some sort of longer term sustainable value to a property.

:blush: there is no such thing.

economic equilibrium is a fallacy. it will take decades to eradicate this poison from our thought processes.

Talk about being quoted out of context. At least put in the full sentence :confused:

“and the next time I ask you to pick a fucking number, pick the fucking lowest one! Is that a penny I see…”

please excuse me, completely missed context.

maybe because the phrase “long term sustainable” makes all the neurons in my head fire simultaneously. :wink:

irishtimes.com/newspaper/bre … king58.htm

In other words, suck it up taxpayers.

Gayle Dunne has open her own grocery store on the jury’s site. D4 Stores is billed as a low-cost supermarket. From the photograp it seems to be stocked mainly with branded good. Selling those cheaper than the chains while making a profit is not really possible. Anyone care to do a price check?

independent.ie/national-news … 73245.html

Reckless trading… :angry:

Hmm, I don’t recall hearing of any planning/change of use application for a supermarket and off-licence in the hotel.