Gallery Auction Results: Belltown Real Estate Unveiled

Real Estate Agent with All Seattle Homes for Sale:

Looking for Belltown Gallery Auction Results? The Gallery Auction has long been one of Belltown's most anticipated events.  It was astounding to witness the sheer volume of dollars that were spent on these places! 

Gallery Auction results surprising for many!  It was extremely interesting to see the mass exodus of hopeful would be Gallery Auction bidders who thought they might get a steal. There were some good deals last night, but nothing I couldn't have negotiated up front in a normal purchase and sale without the pressure of the auction itself.  It just goes back to my earlier statement:  "Do not be afraid to put in an offer that may not be socially acceptable."  In the case of the Gallery before the auction, they may have taken it based on auction result numbers I saw last night.

So here are the Gallery Auction results as I recorded them personally, so I should put in a disclaimer that I am human and may have made a mistake.  By the way, these are in auction bid order:

Unit      SQFT    Previous Price       Min Bid        Winning Bid Amt

1020     1438         $995,200          $449,000         $735,000

1103     1226         $895,990          $499,000         $650,000

920       1438         $995,200          $449,000         $607,000

820       1438         $990,200          $449,000         $592,000

720       1438         $923,400          $449,000         $588,000

903       1226         $895,990          $499,000         $621,000

703       1226         $795,900          $449,000         $548,000

1102     1301         $924,600          $449,000         $566,000

1002     1301         $887,500          $449,000         $564,000

702       1301         $810,700         $375,000          $547,000

1006     1066         $736,990         $325,000          $450,000

906       1066         $731,990         $325,000          $440,000

706       1066         $649,990         $325,000          $419,000

402        961          $573,400        $245,000          $412,000

1107      883          $636,500        $295,000          $462,000

1104      880          $619,990        $295,000          $455,000

1004      880          $573,200        $295,000          $413,000

1117      672          $504,500        $225,000          $380,000

1118      771          $509,990        $225,000          $344,000

1017      672          $467,600        $195,000          $338,000

1018      771          $499,990        $225,000          $337,000

618       845          $484,000        $215,000          $347,000

507       883          $466,300        $195,000          $282,000

407       883          $440,700        $195,000          $277,000

1111     603          $448,800        $225,000          $326,000

1011     603          $427,800        $215,000          $330,000

1115     586          $428,000        $225,000          $321,000

1015     586          $400,100        $215,000          $318,000

715      603           $365,100        $215,000         $310,000

620      843           $481,300        $225,000         $331,000

420      843           $467,800        $225,000         $289,000

1112    603           $426,400        $195,000         $301,000

1114    603           $425,000        $195,000         $300,000 

1012    603           $413,800        $195,000         $297,000

612      603           $368,100        $195,000         $280,000

721      605           $388,700        $195,000         $243,000*

403    1160           $694,990        $399,000         $434,000

201    1116           $658,000        $335,000         $384,000

624      699          $410,700        $195,000          $300,000

424      699          $400,000        $195,000         $284,000

521      836          $423,800        $195,000           ***

421      836          $420,800        $195,000           ***

623      791          $424,500        $195,000           ***

423      791          $397,500        $195,000           ***

*In my opinion, the winning bidder for unit 721 probably got one of the best deals of the day.  Although the unit is right next to the owner's lounge and I have heard that there is quite a bit of horizontal sound traveling in Gallery, this was a phenomenal price to get into that location!

*** At this point, I had to accompany my bidder out of the room, but I will update later with results from the last four auction results.

Gallery Auction Results Wrap Up -

Overall, I would say Gallery raked in far more dollar per square foot than I would expect them to have.  I would say this proves that Seattle real estate is alive and well and that Belltown real estate is still moving!  The condo market has definitely changed and we will be seeing more of these types of sales in my opinion based on the backlog of inventory.

Posted by



Courtney Cooper

Seattle Realtor, Owner/Broker/EcoBroker

Cooper Jacobs Real Estate powered by Keller Williams Downtown Seattle


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Colleen Fischesser
RE/MAX Advantage Lake Chelan | Managing Broker - Chelan, WA
Earning a Tradition of Trust since 1990!

Great wrap up Courtney! I think your take on "socially acceptable" lower offers is a good one and without the hype of the auction atmosphere, it's possible you could have negotiated a better deal for your client. But it IS great to see that the event was successful and there's good demand out there if the price is right!

Sep 28, 2009 03:37 AM #1
HOMEFRONT Realty - Bremerton, WA
Kitsap County WA Real Estate - HOMEFRONT Realty

Courtney, Nice wrap up. Auction if not anything else are exciting. Of course there are those that don't realize it is not a fire sale.

Sep 28, 2009 03:43 AM #2
Sharon Senger
tcDocs - Seattle, WA
Licensed Transaction Coordinator


Thanks for posting the results of the auction and I have to agree based on these results I am sure we are going to see a lot more of these events.


Sep 28, 2009 03:56 AM #3
Courtney Cooper
All Seattle Homes for Sale: - Seattle, WA

Are they interestign numbers?  I think there were a lot of people there who thought that the $195,000 price might be good for some of those units.  I mean there was one unit that literally looked at a brick wall and had a giant column gogin through the middle of the kitchen (building support column).  It was weird and still went for way over minimum.  Might get people thinking more realistically about prices that these places are selling for.

Sep 28, 2009 05:32 AM #4
Courtney Cooper
All Seattle Homes for Sale: - Seattle, WA

Jo - you are right - a lot of people thought it was going to be an absolute firesale.

Sep 28, 2009 05:33 AM #5
The closed auction process seemed fishy to me. Some of the people bidding up the prices looked like insiders. Of course, since they escorted people out, it was cleverly done.
Sep 28, 2009 01:05 PM #6
Courtney Cooper
All Seattle Homes for Sale: - Seattle, WA

I don't know Axe - I know a lot of the agents who worked the auction as independent contractors to get the documents done after a winning bid occurred and no one noticed anything that seemed off.  I didn't like how they quickly bonked the price up in $25k increments at the beginning of each unit, but pretty standard buyers seems to be present.  I am unsure as to how much homework some of the winners did though, because there really were only a couple super deals in my opinion.  It was interesting at the very least:)

Sep 28, 2009 06:26 PM #7
Arnold Camps
HomeAccel® Real Estate’s Catalyst ™ - Seattle, WA

Hi Courtney!

I'm new to ActiveRain. I also posted the results of the Gallery. I was actually one of the auction coordinators contracted by Accelerated Marketing Partners and Schnitzer. I also think Unit #1117 was a sure emotional buy. The woman that was the competing bidder dropped from bidding more and actually won #1118 and paid 40k less. 


Sep 30, 2009 10:13 AM #8
Courtney Cooper
All Seattle Homes for Sale: - Seattle, WA

Hi Arnold! - Welcome to Active Rain!  I look forward to reading more form you - I did see your post come on after I had put mine on and wanted to take a closer look - especially at those last four units.  I was there as welll with clients, but one of my associates Laura Lee was there as an auction coordinator as well.  It was pretty nuts, wasn't it?  Again, looking forward to seeing more from you!

Sep 30, 2009 10:40 AM #9
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