Auction of distressed properties abandoned amid angry scenes

An auction had to be abandoned after the crowded saleroom was invaded by protesters furious about the sale of homes that had been repossessed.

The sale of 121 lots was being conducted by auctioneer Gary Murphy of London firm Allsops.  

It was the 12th auction sale of distressed properties that the firm has held in Dublin under the name of Allsop Space in conjunction with a firm of Irish partners.

The auction had barely got under way when a protester rose to his feet and appealed to the 400 potential buyers present not to bid on any of the lots.

Ugly scenes follows when dozens of other protesters started heckling the auctioneers, shouting “Ireland is not for sale”, “English scum out”, “Go back to Britain with your tails between your legs like in 1916”, and “Black and Tan b******s”.

One eyewitness said: “The poor auctioneer was getting a terrible time and he was only there doing his job. I feel sorry for anyone who has lost their home but I think this level of abuse was totally uncalled for.”

Order was briefly restored, but after a shot break the protest erupted again and the sale was cancelled for safety reasons and police were called.

Allsop Space subsequently put all 121 lots up for private tender, with best and final bids by 5pm yesterday (tuesday).

A spokesman for Allsop Space said: “The actions of some people attending were both unlawful and intimidatory, resulting in people being prevented from going about their lawful and necessary business as well as being put at risk of personal harm.”

He said that security at the auction, being held in an hotel, was “obviously inadequate” and that a decision would be made on where to hold subsequent auctions.

The protests may have been sparked by a major scandal in Ireland, where some leaked tapes show senior executives laughing about the state of the Anglo Irish Bank shortly before it had to be bailed out by taxpayers.

According to Ireland’s Central Bank, a quarter of all mortgages are in some kind of arrears. A recent change of law will make it easier for banks to repossess properties. Estimates suggest that 35% of all households are in negative equity.

The Allsop Space auctions have drawn bargain-hunters from far and wide, including buyers from Britain.