A commercial space on the ground floor of River Diamond in Prague-Karlín was auctioned off Wednesday on the second attempt. The space was first put under the hammer by the Naxos auction agency in December with bids beginning at CZK 26.8m. Yesterday’s auction (also run by Naxos) began at CZK 24.5m but the retail space eventually sold for CZK 28.6m, with three investors (Czech and foreign-based) competing for the space. “It shows that even after a first unsuccessful auction there’s no need to panic and that setting the price low enough can bring in enough investors to ensure the seller achieves the maximum price,” said Naxos director Jan Sachr.
